Larry Summers Forced Out of Hedge Fund Following Epstein Scandal

Larry Summers, the former Treasury Secretary, has been ousted from his consulting position at the ‘woke’ hedge fund DE Shaw, effectively ending his Wall Street career due to his ties to Jeffrey Epstein, reports The Post.

Insiders revealed that the 70-year-old Summers, who was embroiled in a scandal involving embarrassing emails seeking dating advice from Epstein, was terminated from his advisory role at the hedge fund, as confirmed by sources.

DE Shaw, with over $70 billion in assets under management, confirmed that Summers is no longer a consultant at the firm and declined to provide further details about his departure.

This latest blow for Summers comes after being placed on leave from his teaching position at Harvard University.

Summers had been serving as a consultant on macroeconomics at DE Shaw since 2011 and previously held a managing director position at the firm. He had also worked for the investment firm off-site from Boston, close to Harvard’s campus.

The hedge fund, founded by Democratic donor David E. Shaw, was the most profitable in 2024, earning $11.1 billion for investors.

Summers’ ties to Epstein came to light, including flying to Epstein’s island on the “Lolita Express” and exchanging emails discussing various topics with the convicted sex offender.

Summers resigned from the board of OpenAI amid the controversy surrounding his relationship with Epstein.

The scandal has led to Summers stepping back from various positions, including his role at Harvard and DE Shaw, marking the end of his career on Wall Street.