Phil Murphy is an American financier, politician, and diplomat who is currently working as the governor of New Jersey. He won the 2021 New Jersey gubernatorial election which honored him as the first Democratic governor of New Jersey. Before politics, Murphy served at Goldman Sachs. Phil Murphy is estimated to have a net worth of $80 million.
Early Life
Philip Dunton Murphy is the full name of Phil Murphy. He was born in a lower-class family in Needham, Massachusetts, on 16 August 1957. His mother was a secretary whereas his father worked for any job to support the family.
In his childhood, Phil Murphy grew up seeing his parents supporting John F. Kennedy. Since his childhood, Murphy grew up playing soccer.
Talking about education, Phil Murphy attended Needham High School. Phil Murphy is an alma mater of Harvard University. After completing his high school session, he took a degree in economics from the prestigious Harvard University.
In 1983, Phil Murphy took his MBA degree from the Wharton School. He initiated his early career as an intern at Goldman Sachs.
Career
In 1982, Phil Murphy joined Goldman Sachs, a multinational investment bank, as a financier intern. The very next year, he permanently joined the team and began showing his ability inside the organization.
After leading the Frankfurt Office of the firm in numerous locations like Germany, Austria, and Switzerland, Phil Murphy became the President of the Asia division. He became a key part of the management committee by 1999.
In 2006, Phil Murphy ended his 23-year career as a financier at Goldman Sachs. Later, he involved himself in many philanthropic organizations. In the mid-late 2000s, he began serving as a finance chairman for the Democratic National Committee.
Till 2009, Phil Murphy served as the National Finance Chair of the Diplomatic National Committee. He raised more than $300 million during his time in the Democratic National Committee.
In the Barack Obama administration, Phil Murphy served as the US Ambassador to Germany. Serving as the US Ambassador to Germany, he led the international fallout from the US diplomatic cable leak.
Phil Murphy and his wife established a progressive organization in New Jersey to showcase his political activity. However, Murphy became successful in the 2021 New Jersey gubernatorial election. He became the first Democratic governor of New Jersey.
During his time, Phil Murphy has received many accolades, especially the two honorary degrees from Rutgers University and Hamilton College.
Phil Murphy Net Worth:
As of this writing, Phil Murphy is estimated to have a net worth of $80 million. When Goldman Sachs issued their IPO, Phil Murphy’s reported net worth was $50 million. Besides, Phil Murphy is blessed with many real estate properties. He gives $200k annual property taxes alone!
How does Phil Murphy make money?
Phil Murphy is a political activist, financier, and the Governor of New Jersey. He makes a hefty sum of his net worth through numerous ventures. These can be categorized as below:
- Salary from Goldman Sachs
- Salary as an Ambassador
- Salary as the governor of New Jersey
Phil Murphy served at numerous high-level positions at the multinational investment bank — Goldman Sachs. He was the President of the Asia division in the investment bank. At that time, Murphy’s annual salary was $600k.
Besides, Murphy worked as the co-head of Goldman Sachs. Under the leadership of Phil Murphy, Golden Sachs oversaw a massive asset value of $373 billion!
Furthermore, Phil Murphy served three years as the senior director of the investment bank and took an approximate annual salary of $483k.
Initially, Murphy received $41k as the leader of the Frankfurt Office of Goldman Sachs. Hence, Phil Murphy’s salary from Goldman Sachs in different positions are:
| Working Position at Goldman Sachs | Salary |
| Leader of Frankfurt Office | $41k |
| Senior Director | $483k |
| President at Asia division | $600k |
As the US Ambassador to Germany, Phil Murphy received a minimum salary of $124k per year. The 2017 salary scale shows that the US ambassadors are paid between $124k and $187k.
Currently, Phil Murphy is serving as the governor of New Jersey. As the honorable governor of New Jersey, Murphy takes an annual salary of $175k.
Personal Life
Phil Murphy tied the knot with Tammy Snyder in 1994. Tammy Snyder and Phil Murphy both worked at Goldman Sachs.
Phil Murphy: At a Glance
| Full Name | Philip Dunton Murphy |
| Gender | Male |
| Date of Birth | 16 August 1957 |
| Birth Place | Needham, Massachusetts, United States |
| Height | 1.92 m |
| Weight | 85 kg |
| Spouse | Tammy Snyder |
| Children | 4 |
| Profession | Financier, Politician |
| Political Party | Democratic |
| Nationality | American |
| Net Worth | $80 million |
Sources
- https://www.indeed.com/cmp/Goldman-Sachs/salaries/Senior-Director#:~:text=How%20much%20does%20a%20Senior,199%25%20above%20the%20national%20average. — Senior Director salary of Golden Sachs.
- https://money.cnn.com/news/specials/storysupplement/ceopay/ — Asia Division president salary.
- https://www.glassdoor.com/Salaries/berlin-diplomate-salary-SRCH_IL.0,6_IM1020_KO7,16.htm — Diplomats salary in Germany.
