Age, Biography and Wiki

Merton Miller was born on 16 May, 1923 in Boston, Massachusetts, U.S., is an American economist. Discover Merton Miller's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 77 years old?

Popular As N/A
Occupation N/A
Age 77 years old
Zodiac Sign Taurus
Born 16 May 1923
Birthday 16 May
Birthplace Boston, Massachusetts, U.S.
Date of death 3 June, 2000
Died Place Chicago, Illinois, U.S.
Nationality United States

We recommend you to check the complete list of Famous People born on 16 May. He is a member of famous economist with the age 77 years old group.

Merton Miller Height, Weight & Measurements

At 77 years old, Merton Miller height not available right now. We will update Merton Miller's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

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Merton Miller Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Merton Miller worth at the age of 77 years old? Merton Miller’s income source is mostly from being a successful economist. He is from United States. We have estimated Merton Miller's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
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Source of Income economist

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Timeline

1923

Merton Howard Miller (May 16, 1923 – June 3, 2000) was an American economist, and the co-author of the Modigliani–Miller theorem (1958), which proposed the irrelevance of debt-equity structure.

1952

He worked during World War II as an economist in the division of tax research of the Treasury Department, and received a Ph.D. in economics from Johns Hopkins University, 1952.

His first academic appointment after receiving his doctorate was Visiting Assistant Lecturer at the London School of Economics.

He was survived by his second wife, Katherine Miller, and by three children from his first marriage: Pamela (1952), Margot (1955), and Louise (1958), and two grandsons.

1958

In 1958, at Carnegie Institute of Technology (now Carnegie Mellon University), he collaborated with his colleague Franco Modigliani on the paper The Cost of Capital, Corporate Finance and the Theory of Investment.

This paper urged a fundamental objection to the traditional view of corporate finance, according to which a corporation can reduce its cost of capital by finding the right debt-to-equity ratio.

According to the Modigliani–Miller theorem, on the other hand, there is no right ratio, so corporate managers should seek to minimize tax liability and maximize corporate net wealth, letting the debt ratio chips fall where they will.

The way in which they arrived at this conclusion made use of the "no arbitrage" argument, i.e. the premise that any state of affairs that will allow traders of any market instrument to create a riskless money machine will almost immediately disappear.

They set the pattern for many arguments based on that premise in subsequent years.

Miller wrote or co-authored eight books.

1961

He was on the faculty of the University of Chicago's Booth School of Business from 1961 until his retirement in 1993, although he continued teaching at the school for several more years.

His works formed the basis of the "Modigliani-Miller Financial Theory".

1969

Miller was married to Eleanor Miller, who died in 1969.

1975

He became a fellow of the Econometric Society in 1975 and was president of the American Finance Association in 1976.

1990

He shared the Nobel Memorial Prize in Economic Sciences in 1990, along with Harry Markowitz and William F. Sharpe.

Miller spent most of his academic career at the University of Chicago's Booth School of Business.

Miller was born in Boston, Massachusetts to Jewish parents Sylvia and Joel Miller, a housewife and attorney.

He attended Harvard University as an undergraduate student.

1993

In 1993, Miller waded into the controversy surrounding $2 billion in trading losses by what was characterized as a rogue futures trader at a subsidiary of Metallgesellschaft, arguing in the Wall Street Journal that management of the subsidiary was to blame for panicking and liquidating the position too early.

1995

In 1995, Miller was engaged by Nasdaq to rebut allegations of price fixing.

2000

He served as a public director on the Chicago Board of Trade 1983–85 and the Chicago Mercantile Exchange from 1990 until his death in Chicago on June 3, 2000.