George P. Shultz

Date of Birth: December 13, 1920

Zodiac Sign: Sagittarius

Date of Death: February 6, 2021

Biography

George Pratt Shultz was an American economist, statesman, and businessman who served in various capacities under three different Republican presidents. Born on December 13, 1920, in New York City, Shultz had a distinguished career in both academia and government. He attended Princeton University, where he earned a degree in economics, and later earned a Ph.D. in industrial economics from the Massachusetts Institute of Technology (MIT). Shultz’s career in public service began under President Dwight D. Eisenhower, where he worked as a senior staff economist on the Council of Economic Advisers. He later served as Secretary of Labor under President Richard Nixon from 1969 to 1970, Director of the Office of Management and Budget from 1970 to 1972, and Secretary of the Treasury from 1972 to 1974. Shultz is perhaps best known for his tenure as Secretary of State under President Ronald Reagan from 1982 to 1989. During this period, he played a critical role in shaping U.S. foreign policy, particularly in the context of the Cold War and relations with the Soviet Union. After his time in public service, Shultz continued to be an influential voice in policy circles, serving on various boards and think tanks, including the Hoover Institution at Stanford University. He authored several books and numerous articles on economics and international affairs.

5 Interesting Facts about George P. Shultz

1. George P. Shultz served in four different Cabinet positions across three presidential administrations, a rare achievement in American politics.

2. He was a key figure in the development of the Reagan Doctrine, which provided support to anti-communist insurgent movements during the Cold War.

3. Shultz played a crucial role in the negotiation of the Intermediate-Range Nuclear Forces Treaty (INF) with the Soviet Union in 1987, which helped to de-escalate nuclear tensions.

4. In addition to his government service, Shultz had a successful career in academia, teaching at MIT and the University of Chicago, where he was also the Dean of the Graduate School of Business.

5. Shultz was an advocate for climate change action in his later years, emphasizing the importance of a carbon tax to reduce greenhouse gas emissions.

5 Most Interesting Quotes from George P. Shultz

1. “The minute you start talking about what you’re going to do if you lose, you have lost.”

2. “Negotiation means getting the best of your opponent.”

3. “Trust is the coin of the realm: when trust was in the room, whatever room that was, the family room, the schoolroom, the locker room, the office room, the government room, or the military room, good things happened.”

4. “The most important thing in life is to be true to yourself.”

5. “Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow.”

Highest Net Worth Achieved

The highest net worth George P. Shultz achieved was estimated to be around $10 million, primarily through his government service, academic positions, and roles on corporate boards.