Age, Biography and Wiki
Preston Martin (Preston B. Martin) was born on 5 December, 1923 in Los Angeles, California, U.S., is an American economist and banker (1923–2007). Discover Preston Martin'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 83 years old?
| Popular As |
Preston B. Martin |
| Occupation |
N/A |
| Age |
83 years old |
| Zodiac Sign |
Sagittarius |
| Born |
5 December, 1923 |
| Birthday |
5 December |
| Birthplace |
Los Angeles, California, U.S. |
| Date of death |
30 May, 2007 |
| Died Place |
San Francisco, California, U.S. |
| Nationality |
United States
|
We recommend you to check the complete list of Famous People born on 5 December.
He is a member of famous economist with the age 83 years old group.
Preston Martin Height, Weight & Measurements
At 83 years old, Preston Martin height not available right now. We will update Preston Martin's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.
| Physical Status |
| Height |
Not Available |
| Weight |
Not Available |
| Body Measurements |
Not Available |
| Eye Color |
Not Available |
| Hair Color |
Not Available |
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.
| Family |
| Parents |
Not Available |
| Wife |
Not Available |
| Sibling |
Not Available |
| Children |
Not Available |
Preston Martin Net Worth
His net worth has been growing significantly in 2023-2024. So, how much is Preston Martin worth at the age of 83 years old? Preston Martin’s income source is mostly from being a successful economist. He is from United States. We have estimated Preston Martin'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 |
| House |
Not Available |
| Cars |
Not Available |
| Source of Income |
economist |
Preston Martin Social Network
| Instagram |
|
| Linkedin |
|
| Twitter |
|
| Facebook |
|
| Wikipedia |
|
| Imdb |
|
Timeline
Preston Martin (December 5, 1923 – May 30, 2007) was an American economist and banker who served as the 12th vice chairman of the Federal Reserve from 1982 to 1986.
Preston Martin graduated from the University of Southern California in 1947, before completed an MBA in finance from the same university in 1948 and earned his PhD in monetary economics from Indiana University in 1952.
He was the head of the Economic Department at USC, founded ERG Economic Research Group doing work for Lockheed, among others, while simultaneously writing a book on Housing and Urban Development, as well as serving on the board of directors at Lincoln Savings and Loan.
He then served as California's Saving and Loan Commissioner between 1967 and 1969 under then Governor Ronald Reagan.
His exemplary performance at the state level led to President Nixon appointing him as chairman and chief operating officer of the Federal Home Loan Bank Board in 1969.
He was involved in creating Freddie Mac while working in this position.
Here also he initiated the 5% mortgage loan bill which was passed, almost as a token because the opposition did not think it would work.
There was no entity to insure those loans.
Shortly thereafter, when he left the government in 1972, he founded PMI Mortgage Insurance Company to do just that, insure the 5% mortgage loans which would enable thousands of Americans to purchase their first homes.
Martin later established Seraco Enterprises, a subsidiary of Sears, Roebuck and Company based in the Sears Tower in Chicago, and was appointed to the board of directors of Sears.
When Sears merged with Coldwell Banker, in 1982, President Reagan appointed him as vice chairman of the Federal Reserve for four years and as a member for 14 years.
During his years at the Fed, Martin was known as a Reagan loyalist who challenged Chairman Paul Volcker's tough anti-inflation policies.
Martin was considered as a possible successor to Paul Volcker as chairman of the Federal Reserve, but Alan Greenspan was appointed instead.
Martin returned to San Francisco and created Western Holdings, acquiring failing savings & loans all around the Pacific rim.
He died of cancer, aged 83, in San Francisco, survived by his son Pier Preston Martin, also a banker.
