George Shultz Net Worth - Pulptastic
Andrew Mccoy
Published Apr 11, 2026
What was George Shultz’s net worth?
George Shultz, an American economist, statesman, and investor, passed away on February 7, 2021, at the age of 100. He had a net worth of $40 million at the time of his death, though the majority of his wealth was attributable to his widow, Charlotte Mailliard Shultz, a wealthy socialite whose previous husband came from a billion-dollar real estate family.
Earlier in life, George Shultz gained recognition for his work in the Nixon administration. However, later in life, he became infamous as a board member of the failed blood testing company Theranos.
Unfortunately, Charlotte Mailliard Shultz passed away in December of 2021.
Early Life and Education
George P. Shultz was born on December 13, 1920 in New York City. He attended Princeton University and earned a degree in economics. After serving in the Marines from 1942 to 1945, he went on to earn a Ph.D at M.I.T.
George Shultz’s Career and Advocacy
George Shultz held various positions under three Republican Presidents: Nixon, Reagan, and Ford. He served as Secretary of the Treasury, Director of the Office of Management and Budget, Secretary of Labor, and Secretary of State during his career.
After leaving public office in 1989, Shultz advocated for the legalization of recreational drugs and supported various Republican politicians behind the scenes. He also sat on the boards of several corporations, including Bechtel Corporation, the Charles Schwab Corporation, and Gilead Sciences.
George Shultz’s Involvement with Theranos
George Shultz was a member of the Board of disgraced blood company, Theranos, and even arranged for his grandson Tyler to get a job there. Tyler would ultimately be one of the primary whistle blowers who helped expose Theranos. However, George initially did not believe his grandson’s claims and at one point reportedly tried to strong arm Tyler into recanting his statements because he blindly believed in Theranos founder Elizabeth Holmes.
George had a financial motivation for supporting Theranos. As a member of the board, Elizabeth granted George 2.75 million shares of Theranos, which were worth around $47 million at one point. George then bought another 200,000 shares with his own funds, bringing his total stake up to $50 million at the company’s peak in the summer of 2015.
After Theranos collapsed in 2018, George finally acknowledged that “troubling practices” had taken place at the company. He also recognized that Tyler “felt personally threatened” by their private confrontation and “believed that I had placed allegiance to the company over allegiance to higher values and our family.”
George was a subject of the 2019 HBO documentary about Theranos called “The Inventor”.
Marriages of George Shultz
George Shultz was married to nurse Helena Maria O’Brien from 1946 until her death in 1995. They had five children, one of whom is the parent of Theranos whistle-blower Tyler Shultz.
In 1997, George married socialite Charlotte Mailliard Swig. Charlotte had previously been married to Melvin Swig, a member of the multi-billionaire Swig real estate family. The Swig family owns dozens of prominent buildings in New York and San Francisco, and at one point, the family owned the Fairmont Hotel chain. Melvin died in 1993.
Charlotte Shultz’s San Francisco Penthouse Sells for $29 Million
In 1989, Charlotte Shultz and her then-husband Melvin Swig purchased a penthouse apartment in San Francisco for $3.3 million. Eight years later, in 1997, Charlotte and her current husband, George Shultz, bought the neighboring apartment for $5 million. Together, the two apartments provided 10,400 square-feet of living space, which the couple used as both a personal residence and entertaining area.
Fast forward to July 2022, and the Shultz estate sold the two apartments for an impressive $29 million. The apartments boast stunning views of San Francisco and the Bay Area. The sale price represents a significant return on investment for the Shultz family.
Take a video tour of the apartments through the listing linked above to see the luxurious living space and views for yourself.
