Lloyd Blankfein’s net worth skyrocketed thanks to Goldman’s IPO in 1999 and its strong share price since.

According to the Bloomberg Billionaires Index, Blankfein is now worth $1.1 billion. He joins JPMorgan CEO Jamie Dimon in the billionaires club. Dimon is also worth $1.1 billion, write Michael J. Moore and Pamela Roux for Bloomberg.

Lloyd Blankfein Joins Jamie Dimon In $1B Bank CEO Club

Strong performance during 9-year stint as CEO

Goldman’s share price has more than quadrupled since its IPO in 1999, and as the largest individual owner of stock, Lloyd Blankfein’s stake is currently worth almost $500 million. Real estate and an investment portfolio add over $600 million.

Lloyd Blankfein, whose father worked for the New York postal service, has accumulated his wealth very rapidly, and a situation like his does not happen very often. He held a senior position before Goldman went public, and it was one of the last major Wall Street firms to do so.

“It will be a rare thing,” said Alan Johnson, managing director of compensation-consulting firm Johnson Associates. “Most people won’t have as long of a career at a high level, and it’s certainly unusual to keep as much of that stock that you’ve been granted. And then, of course, the firm you work for has to be really successful.”

At the time of the IPO, partners in Goldman Sachs received an average of $63.6 million. Since then the stock price has risen 298% despite a 6% drop in the Standard & Poor’s 500 Financials Index.

Lloyd Blankfein a steady hand in tough times

During Lloyd Blankfein’s 9-year tenure as CEO the firm has experienced the worst financial crisis since the Great Depression, and rescued its reputation after an investigation into how it sold mortgage-linked securities.

He has been paid $167.9 million in salary and cash bonuses since 2000, while investments in Goldman’s private-equity funds have brought in over $200 million. Lloyd Blankfein also made over $250 million from stock sales and dividends.

The calculation does not include unexercisable options, restricted shares and $5.6 million in stock contributions to the Lloyd and Laura Blankfein Foundation. The organization has donated to Harvard, the Ethical Culture Fieldston School and various groups involved in education and the arts.

Although Blankfein is now a billionaire, he has pushed for policies which promote the distribution of wealth while not preventing its creation. A spokesman for Goldman Sachs would not confirm Bloomberg’s calculations, stating that Lloyd Blankfein did not talk about his personal wealth.