George P. Shultz

Date of Birth: December 13, 1920

Zodiac Sign: Sagittarius

Date of Death: February 6, 2021

Biography

George Pratt Shultz was a distinguished American economist, statesman, and public servant who played key roles in the U.S. government over the span of several decades. Born on December 13, 1920, in New York City, Shultz graduated from Princeton University in 1942 with a degree in economics. During World War II, he served in the U.S. Marine Corps, achieving the rank of Captain. After the war, he earned a Ph.D. in industrial economics from the Massachusetts Institute of Technology (MIT) in 1949. Shultz’s career in public service began in the Eisenhower administration, where he served as a senior staff economist on the President’s Council of Economic Advisers. He later became the Dean of the University of Chicago Graduate School of Business and was a key figure in American public policy through various Republican administrations. He served as Secretary of Labor (1969–1970), Director of the Office of Management and Budget (1970–1972), and Secretary of the Treasury (1972–1974) under President Richard Nixon. Perhaps his most notable role was as Secretary of State under President Ronald Reagan from 1982 to 1989. In this capacity, Shultz played a critical role in shaping U.S. foreign policy during the latter years of the Cold War, particularly in negotiating arms control treaties with the Soviet Union and fostering relationships that eventually led to the end of the Cold War. After leaving government service, Shultz continued to be an influential voice in public policy and business, serving on various corporate boards and advisory committees. He was a senior fellow at the Hoover Institution at Stanford University until his death.

5 Interesting Facts about George P. Shultz

1. George Shultz was one of only two individuals to serve in four different Cabinet positions in the U.S. government.

2. He was instrumental in the negotiation of the Intermediate-Range Nuclear Forces Treaty (INF) with the Soviet Union in 1987.

3. Shultz was a strong advocate for economic deregulation and free-market policies.

4. He was awarded the Presidential Medal of Freedom, the nation’s highest civilian honor, in 1989.

5. Shultz was a passionate advocate for climate change action later in his life, co-chairing the Task Force on Energy Policy at the Hoover Institution.

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. “Negotiate from strength, but always try to engage.”

3. “Trust is the coin of the realm.”

4. “The United States has the capability to lead the world in a way that no other country can.”

5. “The most important thing in life is to have a purpose and to fulfill it.”

Highest Net Worth Achieved

At the peak of his career, George P. Shultz’s net worth was estimated to be around $10 million, largely accrued through his roles in government, academia, and as a board member for various corporations.

Children

George P. Shultz had five children: Margaret Ann Tilsworth, Kathlee Louisa Winks, Peter Milton Shultz, Helen Elizabeth Shultz, and Alexander George Shultz.