Did you know that Goldman Sachs is one of the biggest Investment banking companies in the entirety of the world? Yes, and you’ll be even more surprised to know that it all began way back in 1869. Yeah, we know, that is way rich of history, especially for a company working in the financial services industry. And this is the prime reason why Goldman Sachs has been in the talks ever since its establishment. If you are someone who cares to know a little more about this amazing company, like the Goldman Sachs net worth, origin story, who’s currently in charge of the company, and things like that, then keep on reading. Here we go.
|Goldman Sachs Origin Country
|200 West Street, New York City, New York, U.S.
|Goldman Sachs CEO
|David M. Solomon
|Goldman Sachs Founders
|Marcus Goldman, Samuel Sachs
|Goldman Sachs Net Worth
|$110.7 billion (As of December 2023)
The Goldman Sachs Story
It all started back in 1869, think about it, that’s way back! Marcus Goldman, the brain behind it, kicked things off in a tiny basement in New York. Now, in the beginning, they were all about commercial paper, pretty new stuff at the time, and they even got themselves a spot on the New York Stock Exchange in 1896. Fast forward to the early 1900s, and Goldman Sachs was on a roll, growing like crazy. They were popping up in major US cities and had become a hotshot in the initial public offering (IPO) market. One of their headline-grabbing moves? Taking Sears, Roebuck, and Company public in 1906. They had this fresh take on how to value companies, focusing on the price-earnings ratio rather than just book value. Now, from its humble start in 1869, Goldman Sachs just skyrocketed. The 1900s and early 2000s? They were booming with growth, brimming with new ideas, and yeah, they hit some bumps too. Take, for instance, their role in big-time IPOs like Microsoft in 1986. And do you remember the 2007-2008 subprime mortgage crisis? Goldman Sachs was in the thick of it. Back then, it was big news when they made a buck by short-selling subprime mortgage-backed securities. But at the same time, they got some heat for how they handled those risky mortgages.
Goldman Sachs Financials
Stepping into the 21st century, Goldman Sachs was on a path of transformation, quite literally. The year 2008 marked a pivotal change for them. They shifted from being an investment bank to a bank holding company amid the financial turmoil. This was no small move! It laid the foundation for a massive $10 billion boost from the U.S. Treasury, part of the Troubled Asset Relief Program. Guess what? Goldman Sachs wasn’t just sitting on this. By 2009, they had paid back every penny, with interest. Fast forward to December 2023, and the figures are startling. Goldman Sachs’ net worth? A whopping $110.7 billion. That’s a leap from their 1999 market cap of just $32.80 billion.