Peter Orszag is an American economist, financial executive, and former government official known for his influential work in economic policy and global finance. He has held some of the most important economic positions in the United States government, including Director of the Congressional Budget Office (CBO) and Director of the Office of Management and Budget (OMB) under President Barack Obama.
Today, Orszag serves as the Chief Executive Officer and Chairman of Lazard, a global financial advisory and asset management firm. His professional journey reflects a combination of academic excellence, government experience, and corporate leadership.
In this article, we explore Peter Orszag’s biography, age, education, career, estimated net worth, personal life, and major achievements.
Peter Orszag Wiki and Biography
Peter Orszag, whose full name is Peter Richard Orszag, was born in Boston, Massachusetts, United States. He developed an interest in economics and public policy early in his academic career and eventually became a prominent figure in both government and the financial sector.
His experience advising policymakers and leading financial institutions has made him a recognizable name in American economic and business circles.
Peter Orszag: Quick Facts
| Profile | Details |
|---|---|
| Full name | Peter Richard Orszag |
| Date of birth | December 16, 1968 |
| Age | 57 years old as of October 2026 |
| Birthplace | Boston, Massachusetts, United States |
| Nationality | American |
| Profession | Economist, financial executive, former government official |
| Current position | CEO and Chairman of Lazard |
| Education | Princeton University, London School of Economics |
| Spouse | Bianna Golodryga |
| Known for | Economic policy, government service, financial leadership |
| Estimated net worth | Not publicly verified |
| Employer | Lazard |
Orszag’s professional background spans academia, public service, economic research, and investment banking. His leadership at Lazard represents the latest stage of a career that began in economic research and public policy.
How Old Is Peter Orszag?
Peter Orszag was born on December 16, 1968. As of October 2026, he is 57 years old and will turn 58 in December 2026.
Despite spending years in government and academia, Orszag has built a significant portion of his later career in the private financial sector. His experience in both fields has helped shape his approach to economic strategy, corporate advisory services, and financial decision-making.
Peter Orszag’s Education and Early Life
Orszag grew up in Lexington, Massachusetts. His academic background played a major role in preparing him for a career in economics and public administration.
He attended Phillips Exeter Academy before enrolling at Princeton University, where he graduated summa cum laude with a degree in economics.
He later pursued graduate studies at the London School of Economics as a Marshall Scholar. He earned a master’s degree and a Ph.D. in economics, completing his doctorate in 1997.
His doctoral research examined economic transitions, uncertainty, and policy-related questions. This academic foundation provided the analytical skills he would later apply to federal budgeting, healthcare policy, and financial advisory work.
Orszag’s educational achievements established a strong foundation for his career in economic research and public service.
Peter Orszag’s Career Journey
Peter Orszag’s career is notable for the way he has moved between economic research, government service, and senior financial leadership. His professional experience includes working in two presidential administrations, directing federal budget institutions, and advising major corporate and government clients.
1. Early Career in Economic Research
Orszag began his career in economics and public policy, developing expertise in government spending, fiscal policy, healthcare economics, and long-term economic challenges.
He worked at the Council of Economic Advisers during the Clinton administration and also served as Special Assistant to the President for Economic Policy. These roles gave him experience in evaluating economic conditions and advising senior government officials.
He subsequently worked at the Brookings Institution, where he contributed to economic research and policy discussions.
2. Director of the Congressional Budget Office
In January 2007, Orszag became Director of the Congressional Budget Office (CBO).
The CBO provides Congress with independent analysis of federal budgetary and economic issues. During his tenure, Orszag focused on long-term fiscal sustainability, healthcare spending, and the budgetary implications of public policy proposals.
He served in this position until late 2008, building a reputation as an economist with detailed knowledge of federal finances.
3. Director of the Office of Management and Budget
In January 2009, President Barack Obama appointed Orszag as Director of the Office of Management and Budget.
The OMB helps the president develop and implement the federal budget and coordinates budgetary and management policies across government agencies.
Orszag served during a challenging period for the American economy following the global financial crisis. He was involved in federal budget planning and healthcare policy discussions, including the broader reform efforts that culminated in the Affordable Care Act.
He left the position in July 2010. His experience leading both the CBO and OMB gave him an unusual combination of congressional budget analysis and executive-branch budget management experience.
4. Career at Citigroup
After leaving government, Orszag moved further into the private financial sector.
He joined Citigroup, where he served as Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group. His work brought together economic analysis, corporate finance, and strategic advisory services.
This transition helped establish his position in the financial industry and prepared him for subsequent leadership roles at Lazard.
5. Joining Lazard
Orszag joined Lazard in May 2016 as a Vice Chairman of Investment Banking.
He later served as Global Co-Head of Healthcare and Head of North American Mergers and Acquisitions. These positions involved advising organizations on major strategic and financial decisions.
In 2019, he became CEO of Lazard’s Financial Advisory business, overseeing advisory services for corporations, governments, and other institutions around the world.
6. Becoming CEO and Chairman of Lazard
Orszag became CEO of Lazard on October 1, 2023. His responsibilities expanded when he became Chairman of the Board effective January 1, 2025.
As of October 2026, he continues to serve as CEO and Chairman.
In this role, he oversees the firm’s strategic direction and operations. His background in public policy and finance provides experience in evaluating complex economic conditions, corporate transactions, and international business challenges.
Lazard’s official leadership profile provides further details about his career and responsibilities.
Peter Orszag Net Worth: How Rich Is He?
Peter Orszag’s net worth is a frequent subject of online searches because of his senior position in the financial industry and his years of experience in government and investment banking.
However, his exact personal net worth has not been established by a reliable, publicly verified figure.
Orszag has held senior positions at Citigroup and Lazard, including executive roles that may involve substantial compensation. His personal wealth could include salary, performance-related compensation, investments, retirement assets, and other holdings. The full details of his personal finances are not publicly established.
What Are His Main Sources of Wealth?
Several professional activities may contribute to Orszag’s financial position:
- Executive compensation: His leadership role at Lazard may provide salary and performance-based compensation.
- Investment banking: His previous senior positions at Citigroup and Lazard have been in the financial services industry.
- Investments and assets: Any personal investments or other assets would form part of his overall wealth, although a comprehensive public accounting is unavailable.
- Research and professional activities: His work in economics, policy analysis, and financial advisory services has contributed to his professional standing.
It is important to distinguish his compensation from his net worth. Executive pay disclosed in corporate filings does not necessarily represent total personal wealth.
Therefore, rather than presenting an unsupported dollar amount, it is more accurate to describe Orszag as a senior financial executive whose precise net worth remains unverified.
Peter Orszag’s Personal Life
Although Orszag is a prominent business executive and former government official, he generally keeps his personal life separate from his professional responsibilities.
Marriage to Bianna Golodryga
Peter Orszag is married to Bianna Golodryga, a journalist and CNN correspondent known for covering international affairs, politics, and economic developments.
Their professional backgrounds place them in different but related areas of public life: Orszag works in finance and economic strategy, while Golodryga reports on major political, business, and international developments.
The couple resides in New York City, according to Orszag’s official website.
Family and Children
Orszag has children and maintains a family life alongside his demanding professional career. Some details about his family have appeared in public reporting, but not all aspects of his private life are regularly discussed by him.
For a biography focused on his public achievements, his family relationships are best considered alongside his broader professional background rather than treated as the main focus of his public identity.
Personal Interests and Public Engagement
Beyond his executive responsibilities, Orszag participates in discussions involving economic policy, healthcare, education, and public institutions.
His involvement in research organizations and nonprofit boards reflects an ongoing interest in issues that extend beyond corporate finance. He has also contributed to public discussions through articles, interviews, and commentary on economic and business matters.
Peter Orszag’s Board Memberships and Affiliations
Orszag’s professional activities extend beyond his responsibilities at Lazard. He has participated in organizations concerned with economics, public health, education, and research.
His affiliations include:
- National Academy of Medicine: Membership in an organization that brings together experts working to advance health and medical science.
- Council on Foreign Relations: Participation in an organization focused on international affairs and foreign policy.
- Aspen Economic Strategy Group: Engagement with discussions on major economic policy challenges.
- Peterson Institute for International Economics: Board involvement with a research institution focused on international economic issues.
- Mount Sinai: Board and institutional involvement in the healthcare sector.
- Institute for Advanced Study: Board of Trustees appointment announced in May 2026.
These affiliations complement his career in finance and government by connecting him with researchers, policymakers, and institutional leaders.
Major Achievements of Peter Orszag
Orszag’s career includes several milestones that help explain his prominence in economics and finance.
1. Leading two major federal budget institutions
He served as Director of both the Congressional Budget Office and the Office of Management and Budget, gaining experience in congressional budget analysis and presidential budget management.
2. Serving in the Obama administration
His role as OMB Director placed him at the center of federal budgeting during the economic recovery following the 2008 financial crisis.
3. Building a career in investment banking
After public service, he moved into senior positions at Citigroup and Lazard, demonstrating experience across both government and corporate finance.
4. Becoming CEO and Chairman of Lazard
His appointment as CEO in 2023 and subsequent appointment as Chairman in 2025 marked major milestones in his private-sector career.
5. Contributing to economic research and policy discussions
His academic background, writing, and involvement with policy organizations have helped maintain his presence in debates about fiscal policy, healthcare, and international economics.
Conclusion
Peter Orszag’s career illustrates how expertise in economics can translate into leadership across government and global finance. From his academic training at Princeton University and the London School of Economics to his work directing the CBO and OMB, he has developed extensive experience in economic analysis and institutional leadership.
His transition into investment banking at Citigroup and Lazard further broadened his professional background. Today, as CEO and Chairman of Lazard, he occupies a senior position in the global financial advisory industry.
(FAQs) About Peter Orszag
1. Who is Peter Orszag?
Peter Orszag is an American economist, financial executive, and former government official. He is best known for serving as Director of the Congressional Budget Office and the Office of Management and Budget. He is currently the CEO and Chairman of Lazard.
2. How old is Peter Orszag?
Peter Orszag was born on December 16, 1968. As of October 2026, he is 57 years old.
3. What is Peter Orszag’s net worth?
Peter Orszag’s exact net worth has not been publicly verified. His senior executive positions in the financial industry suggest substantial earning potential, but no reliable figure should be treated as confirmed.
4. Who is Peter Orszag’s wife?
Peter Orszag is married to Bianna Golodryga, an American journalist and CNN correspondent.
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5. What does Peter Orszag do for a living?
He works in global financial services as the CEO and Chairman of Lazard, a financial advisory and asset management firm.
6. Where was Peter Orszag born?
Peter Orszag was born in Boston, Massachusetts, United States.
7. What is Peter Orszag’s educational background?
He graduated summa cum laude from Princeton University with a degree in economics. He also studied at the London School of Economics, where he earned graduate degrees, including a Ph.D. in economics.
8. What government positions did Peter Orszag hold?
He served as Director of the Congressional Budget Office from 2007 to 2008 and as Director of the Office of Management and Budget from 2009 to 2010 under President Barack Obama.
9. Did Peter Orszag work at Citigroup?
Yes. After leaving government service, he joined Citigroup and held senior positions in corporate and investment banking before moving to Lazard.
10. When did Peter Orszag become CEO of Lazard?
Peter Orszag became CEO of Lazard on October 1, 2023, and assumed the role of Chairman of the Board on January 1, 2025.
11. Does Peter Orszag have children?
Yes, Peter Orszag has children. However, detailed information about his family’s private life is not extensively publicized.
12. Why is Peter Orszag famous?
He is known for his contributions to economic policy, federal budget planning, healthcare policy analysis, and leadership in the global financial advisory industry.
13. What is Peter Orszag’s nationality?
Peter Orszag is American.
14. Where does Peter Orszag live?
Peter Orszag is associated with New York City through his professional and family life. Specific details about his private residence are not necessary to understand his career.
15. What are Peter Orszag’s major career achievements?
His major achievements include leading the Congressional Budget Office, directing the Office of Management and Budget, holding senior positions at Citigroup, and becoming CEO and Chairman of Lazard.