Exclusive | Larry Summers compelled out of consulting gig at ‘woke’ hedge fund DE Shaw after Jeffrey Epstein scandal

Larry Summers has been compelled out of his profitable consulting gig at ‘woke’ hedge fund DE Shaw — successfully ending the former Treasury Secretary’s profession on Wall Street following a scandal over his ties to Jeffrey Epstein, The Post has discovered.

Two insiders, talking on condition of anonymity, said 70-year-old Summers — who had sought dating advice from the dead pedophile in a trove of embarrassing emails that surfaced last week — had still been listed as an adviser on the hedge fund’s inside listing as lately as Friday morning.

“They just terminated him,” a source told The Post after an electronic mail to the Summers’ DE Shaw tackle requesting remark bounced back.

Summers, seen right here on the proper in 2004, is under investigation at Harvard University over his ties to the pedophile financier. Alamy Stock Photo

“Larry Summers is no longer a consultant to the firm,” a DE Shaw spokesperson said of the former chief economist of the World Bank, who was as soon as described by the New York Times as the company’s “marquee hire” to drum up purchasers all over the world.

The spokesperson declined to supply additional particulars about Summers’ departure from DE Shaw, which has more than $70 billion of belongings under management. Summers didn’t return additional calls or emails from The Post looking for remark.

Summers had been a advisor on macroeconomics to the secretive financial big since 2011. It is the latest blow for Summers after he was put on leave from his teaching gig at Harvard University this week.

The Obama and Clinton administration alum labored for the wildly profitable investment firm “off-site” from Boston, a stone’s throw from Harvard’s Cambridge campus, and reported to 1 of the firm’s managing administrators, Max Stone, the insiders said.

His first stint with the New York-based powerhouse started in 2006 when he joined as a managing director, bringing with him his long-time trusted adviser, Michael O’Mary, who joined the following yr, according to his LinkedIn profile.

Summers, seen right here at Harvard Business School in 2022, is on depart from his instructing place at the Ivy League college the place he as soon as served as its president. China News Service through Getty Images

The one-time Harvard president left in late 2008 to change into President Barack Obama’s top economics guru before returning as a advisor after Bill Clinton’s Treasury Secretary stop authorities for the second time.

DE Shaw noticed its algorithm-driven trades make it the most profitable hedge fund in 2024, raking in $11.1 billion for traders, according to Institutional Investor journal.

Billionaire David. E Shaw, a laptop scientist, based the firm in 1988. deshaw.com

The firm was based by major Democratic donor David E. Shaw, who helped bankroll the presidential campaigns of Kamala Harris, Joe Biden, Barack Obama, and Hillary Clinton.

The company’s top brass have been some of the most vocal champions of DEI on Wall Street while successfully slapping gag orders on former workers, as The Post has previously reported.

The man who served as President Bill Clinton’s from 1999 to 2001 on Monday went on depart from his instructing gig at Harvard University while the elite Ivy League school probes his relationship with Epstein.

The one-time president of the top college has also stepped back as director of the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School.

Summers joined DE Shaw in 2006, one yr before his long-time trusted aide, Michael O’Mary, adopted him to the firm. Obtained by NY Post

It comes amid revelations that Summers flew to Saint James on Epstein’s infamous “Lolita Express” together with his spouse, Elisa F. New, shortly after their Dec. 11, 2005, marriage ceremony in Cambridge.

They have been accompanied by the disgraced financier’s notorious British madam, the socialite Ghislaine Maxwell, who was later convicted on intercourse trafficking fees, the Harvard Crimson reported Thursday.

Summers spent his honeymoon on the so-called “Epstein Island” in 2005 and even travelled on the money man’s personal jet that was dubbed the “Lolita Express.” SplashNews.com

The island getaway got here six months after Palm Beach police started investigating Epstein for the rape of a 14-year-old lady, with a search warrant later executed on his mansion in October 2005.

Flight logs show Summers flew to the 72-acre Caribbean island on Dec. 21, 2005 — and took Epstein’s jet, allegedly used to ferry victims and accomplices in his sex-trafficking rings, three other instances.

Emails launched by a Dem-led congressional oversight panel also show the two males appeared to have had a close relationship proper up to Epstein’s arrest in July six years in the past.

The pervy pair often mentioned women, politics and Harvard-related business in lots of of emails exchanged between 2013 and 2019, according to the treasure trove of messages.

Summers, seen right here with Epstein and lawyer Alan Dershowitz, exchanged common emails with the pedophile financier through which he sought his counsel on all the things from relationship advice to the variations between males and women. Alamy Stock Photo

In one missive, Summers joked that women have been less clever than males.

“I observed that half the IQ in world was possessed by women without mentioning they are more than 51 percent of population,” Summers wrote Epstein in October 2017, without offering additional context.

In another online back-and-forth in March 2019, Summers requested Epstein for romantic advice.

“I dint [sic] want to be in a gift-giving competition while being the friend without benefits,” Summers told Epstein while discussing his pursuit of a girl, including that “she must be very confused or maybe wants to cut me off but wants professional connection a lot and so holds to it.”

Summers — who helmed the elite college between 2001 and 2006 and was a tenured economics professor there since 1983 — resigned from the board of OpenAI, the company behind ChatGPT, on Wednesday amid a firestorm over his ties to the notorious predator.

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