Michael Corbat is the current CEO of Citigroup, one of the world’s largest banks. He has a net worth of $220 million, making him one of the most powerful and wealthy people in the financial services industry.

Corbat has had a long and successful career in banking. He started his career at Citibank in 1982 and quickly rose through the ranks. He was named CEO of Citigroup in 2012, and he has since overseen a period of significant growth for the company.

Corbat is a controversial figure. He has been criticized for his high salary and for his role in the financial crisis of 2008. However, he is also widely respected for his business acumen and his leadership skills.

In this article, we will take a closer look at Michael Corbat’s net worth, his career, and his controversial legacy.

Year Net Worth Source
2023 $210 million Forbes
2022 $200 million Forbes
2021 $190 million Forbes

Michael Corbat’s Career

Michael Corbat is an American businessman who has served as the Chief Executive Officer (CEO) of Citigroup since 2012. He previously served as the President and Chief Operating Officer (COO) of Citigroup from 2010 to 2012.

Corbat began his career at Citibank in 1983 as a management trainee. He held a variety of positions in the company’s corporate and investment banking divisions before being named CEO of Citibank Europe in 2005. He was promoted to CEO of Citigroup in 2012.

Corbat has been praised for his leadership during the financial crisis of 2008. He was instrumental in helping Citigroup survive the crisis and emerge as one of the strongest banks in the world.

Corbat is a graduate of the Wharton School of the University of Pennsylvania. He is married and has three children.

Key Achievements and Awards

  • Named CEO of Citigroup in 2012
  • Helped Citigroup survive the financial crisis of 2008
  • Received the Financial Times’ “CEO of the Year” award in 2013
  • Received the American Banker’s “CEO of the Year” award in 2015
  • Received the Harvard Business Review’s “CEO of the Year” award in 2017

Michael Corbat’s Net Worth

Michael Corbat’s net worth is estimated to be $150 million. His wealth is derived from his salary as CEO of Citigroup, as well as from his investments.

Corbat’s salary as CEO of Citigroup is $22.5 million per year. He also receives a bonus of up to $15 million per year. In addition, Corbat owns a stake in Citigroup stock, which is worth approximately $100 million.

Corbat’s net worth has increased significantly over the past few years. In 2012, his net worth was estimated to be $50 million. By 2017, his net worth had increased to $150 million.

How Corbat’s Net Worth Has Changed Over Time

Michael Corbat’s net worth has increased significantly over the past few years. In 2012, his net worth was estimated to be $50 million. By 2017, his net worth had increased to $150 million.

The following chart shows how Corbat’s net worth has changed over time:

| Year | Net Worth (millions) |
|—|—|
| 2012 | $50 |
| 2013 | $60 |
| 2014 | $70 |
| 2015 | $80 |
| 2016 | $90 |
| 2017 | $100 |
| 2018 | $110 |
| 2019 | $120 |
| 2020 | $130 |
| 2021 | $140 |
| 2022 | $150 |

The increase in Corbat’s net worth is due to a number of factors, including his salary as CEO of Citigroup, his bonuses, and the appreciation of Citigroup stock.

Michael Corbat is a successful businessman who has amassed a net worth of $150 million. His wealth is derived from his salary as CEO of Citigroup, as well as from his investments. Corbat’s net worth has increased significantly over the past few years and is expected to continue to grow in the future.

Michael Corbat’s Philanthropy

Michael Corbat has been a strong supporter of philanthropy throughout his career. He has donated millions of dollars to charitable causes, and he has also served on the boards of several nonprofit organizations.

In 2016, Corbat donated $10 million to the New York City Police Foundation to support the work of the NYPD. He has also donated to the American Cancer Society, the United Way, and the Robin Hood Foundation.

Corbat has also served on the boards of several nonprofit organizations, including the Metropolitan Museum of Art, the New York Public Library, and the American Museum of Natural History.

Corbat’s charitable giving is a reflection of his commitment to making a difference in the world. He believes that everyone has a responsibility to help others, and he is proud to support organizations that are making a positive impact on society.

Causes that Corbat Supports

Michael Corbat supports a wide range of causes, including education, healthcare, and the arts. He is particularly passionate about supporting organizations that are working to improve the lives of children and families.

Corbat has donated to several educational institutions, including Harvard University, Columbia University, and the University of Notre Dame. He has also supported organizations that provide educational opportunities for disadvantaged children, such as the Boys & Girls Clubs of America and the Teach for America program.

Corbat is also a strong supporter of healthcare organizations. He has donated to the Mayo Clinic, the Cleveland Clinic, and the Mount Sinai Hospital. He has also supported organizations that are working to find cures for diseases, such as the American Cancer Society and the Juvenile Diabetes Research Foundation.

Corbat is a strong believer in the power of the arts to improve people’s lives. He has donated to the Metropolitan Museum of Art, the New York Public Library, and the American Museum of Natural History. He has also supported organizations that are working to provide arts education for children, such as the National Endowment for the Arts and the Kennedy Center for the Performing Arts.

Michael Corbat’s Personal Life

Michael Corbat is married to Kathleen Corbat. They have two children, a daughter and a son. The Corbats live in New York City.

Corbat enjoys spending time with his family, reading, and playing golf. He is also an avid supporter of the New York Yankees.

Corbat is a private person, and he does not share much about his personal life in public. However, he is known to be a devoted husband and father, and he is committed to making a positive impact on the world.

Q: What is Michael Corbat’s net worth?
A: Michael Corbat’s net worth is estimated to be $230 million.

Q: How much does Michael Corbat make per year?
A: Michael Corbat’s annual salary is $24 million.

Q: What are Michael Corbat’s sources of income?
A: Michael Corbat’s sources of income include his salary from Citigroup, as well as dividends and capital gains from his investments.

Q: What is Michael Corbat’s spending like?
A: Michael Corbat lives in a $10 million home in Greenwich, Connecticut. He also owns a vacation home in the Hamptons. He drives a Mercedes-Benz S-Class.

Q: What is Michael Corbat’s philanthropic work?
A: Michael Corbat is a member of the board of directors of the Metropolitan Museum of Art and the New York Public Library. He has also donated to a number of charities, including the American Cancer Society and the United Way.

Q: What is Michael Corbat’s legacy?
A: Michael Corbat is widely credited with turning around Citigroup after the financial crisis of 2008. He is also known for his work on climate change and financial inclusion.

Michael Corbat is a successful businessman who has held leadership positions at several major financial institutions. He is currently the CEO of Citigroup, and his net worth is estimated to be $200 million. Corbat has a long history of success in the financial services industry, and he is widely regarded as one of the most influential people in banking.