Goldman Sachs is one of the top financial services and investment bank company in the whole world. Its full name is The Goldman Sachs Group, Inc., it’s a public company and its headquartered in New York City. You may explore in details below the inception, evolution and net worth of Goldman Sachs in 2019.
Goldman Sachs is aged more than 100 years. It was originally founded in 1869 by the German investment banker, businessman, and financier Marcus Goldman who immigrated to the United States in 1848 and who died in 1904, and later his son in law joined the company, the American investment banker Samuel Sachs who died in 1935.
The Goldman Sachs name became huge in the market and business for the use of commercial paper. They first joined the world’s largest stock exchange market, New York Stock Exchange, in 1896. During that period, the company had nearly $50 million as its real value and its capital was $1.6 million only, but all of these numbers were growing in a consistent manner.
Goldman Sachs was growing during the 90s. In 1918, the American economist Waddill Catchings joined the firm and he became one of the partners with the largest stake in 1928. Their reputation was kind of going down during that period and the company decided to expel Waddill Catchings in 1930 and Sidney Weinberg helped in gaining back their place in market.
Sidney Weinberg was the Goldman Sachs leader and he was called Mr. Wall Street and director’s director for his outstanding work. The man will always be one of the icons of the finance and banking sector. He helped and saved the firm from bankruptcy and he served as the head of it for nearly 30 years until he passed away.
Goldman Sachs now offers many products and services. Some of their products include investment management and banking, the management of assets, mutual funds, commercial banking next to many other services. The company has been into many hard and down times since it was found but they managed to get by through the talented business leaders and employers they have.
Goldman Sachs has been receiving awards for years. In 2018 only, they received more than 10 of each of business-related awards and employer of choice awards. The company has also recently received awards for their diversity and other awards in the category of environment, social and governance.
Net Worth & Earnings:
The American financial services and investment bank company Goldman Sachs has an estimated net worth of somewhere more than $50 billion. The company achieved the tens of billions of wealth through the products and services it provides. Goldman Sachs is ranked among the richest and most wealthy banking and financial companies in the world.
Goldman Sachs one of the top investments and financial services firms in the world. The company’s headquarter is in New York City and it has branches and offices which covers almost all the world. Goldman Sachs has been receiving awards every year for their outstanding achievements.