Gary Cohn facts for kids
Quick facts for kids
Gary Cohn
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| 11th Director of the National Economic Council | |
| In office January 20, 2017 – April 2, 2018 |
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| President | Donald Trump |
| Preceded by | Jeff Zients |
| Succeeded by | Larry Kudlow |
| Personal details | |
| Born |
Gary David Cohn
August 27, 1960 Cleveland, Ohio, U.S. |
| Political party | Democratic |
| Spouse |
Lisa Pevaroff
(m. 1986) |
| Children | 3 |
| Education | American University (BS) |
Gary David Cohn, born on August 27, 1960, is a well-known American businessman. He also helps others through his charity work. From 2017 to 2018, he was a top economic advisor to President Donald Trump. He led the National Economic Council, helping to guide the country's economic plans.
Before working in the White House, Cohn was a top leader at Goldman Sachs. He worked there for over 25 years. Later, on January 5, 2021, Cohn was named vice-chairman of IBM. After his time in the White House, Cohn became an advisor and investor for new companies. These companies work in areas like online security and medical technology.
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Early Life and Education
Gary Cohn grew up in Shaker Heights, Ohio. His family was Eastern European Jewish. His father was an electrician who later became a real estate developer. When Gary was young, he was diagnosed with dyslexia. This meant he had trouble reading and writing. Because of this, he attended four different schools by the time he was in sixth grade.
His experiences with dyslexia were even featured in a book called David and Goliath by Malcolm Gladwell. Cohn went to Gilmour Academy for high school and finished in 1979. In 1982, he earned a degree in business administration from American University.
Gary Cohn's Career Journey
Gary Cohn started his career at a company called U.S. Steel in Cleveland, Ohio. After a few months, he left and became an options dealer. An options dealer buys and sells special financial agreements. He learned about options by reading books in just a few days.
In 1990, Cohn joined Goldman Sachs, a big investment bank. He became a partner there in 1994. He quickly moved up in the company. By 2006, he became the president and co-chief operating officer. This meant he helped run the entire company.
In 2010, Cohn spoke to Congress about Goldman Sachs' role in the 2008 financial crisis. He explained that the company lost money in the housing market. He stated that they did not "bet against their clients." On January 5, 2021, Cohn was appointed Vice Chairman of IBM.
Leading the National Economic Council
On January 20, 2017, Gary Cohn became the Director of the National Economic Council (NEC). This job did not need approval from Congress. He quickly became a very important person in President Donald Trump's team. People saw him as a key leader for economic policy.
Cohn worked on important topics like taxes, building new infrastructure, and financial rules. He also supported bringing back the Glass-Steagall law. This law would separate regular banking from investment banking.
During his time in the Trump administration, Cohn was known for supporting globalism. This means he believed in working with other countries on trade and economics. He was a main leader in getting the Tax Cuts and Jobs Act of 2017 passed. This law changed how taxes worked in the U.S. Cohn later said that this tax reform helped create millions of jobs.
Cohn considered leaving his job after the 2017 Charlottesville rally. He disagreed with how the administration responded to the protests. He said that leaders must clearly speak out against white supremacists.
On March 6, 2018, Cohn announced he would resign. This happened after President Trump suggested new taxes on imported steel and aluminum. Cohn had tried to convince Trump not to do this. He was replaced by Larry Kudlow on April 2, 2018.
Even after he left, President Trump still thought highly of Cohn. Trump called him a "rare talent" who did a "superb job."
Venture Capital and New Ventures
After leaving the White House, Cohn became an advisor and investor in new companies. These companies are often called "venture capital" firms. He focused on businesses in cybersecurity, blockchain, and digital payments. He joined the boards of companies like Spring Labs and Sotera Digital Security.
In April 2020, Cohn joined the advisory board of Starling, a technology company. In August 2020, Cohn and another investor, Clifton S. Robbins, started their own company called Cohn Robbins Holdings Corp.
Harvard Kennedy School
In 2019, Cohn was a visiting fellow at the Institute of Politics at the Harvard Kennedy School. He taught a class with former U.S. Senator Heidi Heitkamp. They discussed economic and national security policies.
While at Harvard, Cohn helped organize a special event called "Road to 2092: Save Social Security." This was a "policy hackathon." Over 250 students from many universities worked together to find solutions for Social Security. The winning team even presented their ideas at the U.S. Capitol and the White House.
Personal Life and Giving Back
Gary Cohn is married to Lisa Pevaroff-Cohn. They have three daughters and live in New York City.
Philanthropy and Charitable Work
Gary and Lisa Cohn are very active in charity work. They helped start the New York University Child Study Center. They also funded a special professorship in child and adolescent psychiatry at the New York University School of Medicine. Cohn has also supported his old schools, American University and Gilmour Academy, with scholarships.
In 2009, a building at Kent State University was named the Cohn Jewish Student Center. This was to thank Gary and Lisa for their generous gift. It was the first Hillel building built on a state university campus.
Cohn has also supported "Reviving Baseball in Inner Cities." He has helped a youth development group called Harlem RBI (now DREAM) since 2011. This group helps kids through baseball and education. Cohn helped them raise money to build their own charter school. He said that Harlem RBI is a project "very near and dear to my heart."
Memberships and Boards
Cohn is involved in many charitable groups focused on education and healthcare. He is a member of the Board of Trustees for NYU Langone Health. He also serves on the Board of Overseers for the NYU Tandon School of Engineering. In 2010, he became chairman of the HJD Advisory Board at the Hospital for Joint Diseases.
