David Malpass
A conservative economist who navigated global finance from Wall Street to the helm of the World Bank during a period of profound crisis.
Born 1956 (age 70)·American economist and official·Birthday: March 8·Baby Boomers
Biography
David Malpass built a four-decade career at the intersection of conservative economic policy and high finance. A veteran of the Reagan and Bush administrations, he developed a skepticism towards multilateral institutions and a focus on dollar strength and deregulation. His long stint as chief economist at Bear Stearns placed him at the heart of the pre-2008 Wall Street boom. After the firm's collapse, he became a vocal critic of Federal Reserve policy. His alignment with Donald Trump's economic nationalism led to his appointment as Under Secretary of the Treasury, where he advocated for a tougher stance on China's development lending. In 2019, he was elected President of the World Bank, an institution he had often criticized. His tenure was dominated by the COVID-19 pandemic and the war in Ukraine, forcing a massive emergency lending response that contrasted with his usual focus on debt transparency and private sector solutions.
Baby Boomers
1946–1964
The largest generation in history at the time. Shaped by postwar prosperity, the Vietnam War, the sexual revolution, and Watergate. They questioned every institution their parents built — then ran them.
David was born in 1956, placing them squarely in the Baby Boomers. The events that shaped this generation — postwar prosperity, civil rights, Vietnam, and the counterculture — shaped the world they entered and the choices available to them.
#1 When David Was Born
The biggest hits of 1956
#1 Movie
The Ten Commandments
Best Picture
Around the World in 80 Days
#1 TV Show
I Love Lucy
David's Life & Times
The world at every milestone
1956Born
Elvis Presley appears on The Ed Sullivan Show
Gas: $0.30/galHome: $10,050Min wage: $1.00/hrPresident: Dwight D. Eisenhower"Heartbreak Hotel" — Elvis PresleyBest Picture: Around the World in 80 Days
1961Started school
Yuri Gagarin becomes the first human in space
Gas: $0.31/galHome: $12,500Min wage: $1.15/hrPresident: John F. Kennedy"Tossin' and Turnin'" — Bobby LewisBest Picture: West Side Story
1969Became a teenager
Apollo 11: humans walk on the Moon; Woodstock festival
Gas: $0.35/galHome: $15,550Min wage: $1.60/hrPresident: Richard Nixon"Sugar, Sugar" — The ArchiesBest Picture: Midnight Cowboy
1972Could drive
Watergate break-in; last Apollo Moon mission
Gas: $0.36/galHome: $19,550Min wage: $1.60/hrPresident: Richard Nixon"The First Time Ever I Saw Your Face" — Roberta FlackBest Picture: The Godfather
1974Could vote
Nixon resigns the presidency
Gas: $0.53/galHome: $22,600Min wage: $2.00/hrPresident: Gerald Ford"The Way We Were" — Barbra StreisandBest Picture: The Godfather Part II
1977Turned 21
Star Wars premieres; Elvis dies
Gas: $0.62/galHome: $31,800Min wage: $2.30/hrPresident: Jimmy Carter"Tonight's the Night" — Rod StewartBest Picture: Annie Hall
1986Turned 30
Challenger disaster; Chernobyl nuclear meltdown
Gas: $0.86/galHome: $66,600Min wage: $3.35/hrPresident: Ronald Reagan"That's What Friends Are For" — Dionne & FriendsBest Picture: Platoon
1996Turned 40
Dolly the sheep cloned
Gas: $1.23/galHome: $99,700Min wage: $4.75/hrPresident: Bill Clinton"Macarena" — Los del RioBest Picture: The English Patient
2006Turned 50
Twitter launches; Pluto reclassified as dwarf planet
Gas: $2.59/galHome: $174,700Min wage: $5.15/hrPresident: George W. Bush"Bad Day" — Daniel PowterBest Picture: The Departed
2016Turned 60
Donald Trump elected president; Brexit vote
Gas: $2.14/galHome: $181,700Min wage: $7.25/hrPresident: Barack Obama"Love Yourself" — Justin BieberBest Picture: Moonlight
2026Turned 70
Gas: $3.91/galPresident: Donald Trump
Key Achievements
- Served as President of the World Bank Group from 2019 to 2023, overseeing its response to the COVID-19 pandemic.
- Held the role of Under Secretary of the Treasury for International Affairs in the Trump administration.
- Was the chief economist at Bear Stearns from 2002 until the investment bank's collapse in 2008.
- Served in economic roles under three Republican presidents: Reagan, George H.W. Bush, and Donald Trump.
Did You Know?
He is an accomplished pianist and once considered a career in music.
He ran unsuccessfully for the U.S. Senate in New York in 2010.
He holds a pilot's license.
During his World Bank tenure, he faced criticism from environmental groups for not phasing out fossil fuel financing quickly enough.
“Strong currencies and low taxes are the foundation for broad-based prosperity.”
