Few political careers pivot as sharply as Josh Frydenberg’s. After serving as Australia’s treasurer through the pandemic years, he lost his blue-ribbon seat of Kooyong in 2022 and walked straight into Goldman Sachs. This piece tracks what happened next — and where one of the Liberal Party’s most prominent figures is heading.
Former Treasurer of Australia: 2018–2022 ·
Member for Kooyong: 2010–2022 ·
Deputy Leader of Liberal Party: 2018–2022 ·
Post-politics role: Goldman Sachs (2024) ·
Net worth estimate: A$5M–10M (speculative) ·
Spouse: Amie Frydenberg (lawyer)
Quick snapshot
- Lost Kooyong to independent Monique Ryan at the 2022 federal election (ABC News)
- Joined Goldman Sachs as Senior Regional Adviser for Asia Pacific on 21 July 2022 (Goldman Sachs press release)
- Married to Amie Frydenberg since 2013 (Lander & Rogers profile)
- Exact net worth is not publicly documented
- Names of his two children are not disclosed
- Details of his specific mandate at Goldman Sachs remain limited
- Lost his seat in Parliament on 21 May 2022 (ABC News)
- Adjunct professor at Monash University from 2023 (Monash University)
- Chairman of Goldman Sachs Australia and New Zealand from September 2023 (Reuters)
- Frydenberg ruled out seeking preselection for Kooyong in June 2024 (Australian Financial Review)
- He will continue as chairman of Goldman Sachs Australia and New Zealand (Australian Financial Review)
- Ongoing policy commentary and Monash University role (Australian Financial Review)
Nine key facts about Frydenberg, one pattern: his transition from frontbench politics to an influential corporate advisory career has been deliberate and carefully managed.
The pattern: Frydenberg’s career arc shows a methodical shift from political power to financial influence, trading the Treasurer’s chair for a chairman’s seat at a global investment bank.
| Field | Value |
|---|---|
| Full name | Joshua Anthony Frydenberg |
| Born | 17 July 1971 (Melbourne, Australia) |
| Education | Monash University (BA/LLB), Oxford University (MPhil) |
| Political party | Liberal Party of Australia |
| Seat | Kooyong (2010–2022) |
| Spouse | Amie Frydenberg (m. 2013) |
| Children | Two |
| Religion | Judaism |
| Current role | Senior Advisor, Goldman Sachs (2024–) |
What has happened to Josh Frydenberg?
On 21 May 2022, Josh Frydenberg lost the seat of Kooyong to independent candidate Monique Ryan — a historic result that ended 112 years of Liberal Party control over the Melbourne electorate (ABC News, Australia’s national broadcaster). The swing against Frydenberg was approximately 12%, reflecting a broader backlash against the Morrison government over climate policy, integrity concerns, and pandemic management.
Within two months of his defeat, Frydenberg announced he would join Goldman Sachs as Senior Regional Adviser for Asia Pacific (Goldman Sachs press release, investment bank). The move drew criticism from some Labor figures who argued it violated the ministerial code of conduct, but the bank stated Frydenberg would refrain from collaborating with any government agency he previously oversaw as Treasurer (Reuters, global news agency).
What is Josh Frydenberg doing now?
- Chairman of Goldman Sachs Australia and New Zealand (since September 2023) — focuses on enhancing and expanding client engagement (Reuters)
- Adjunct professor at Monash University (from 2023) — teaching and research role (Monash University, higher education institution)
- Board member of the Australian National University
- Occasional political commentator and speaker at business conferences
Josh Frydenberg Goldman Sachs role
Goldman Sachs Australia chief executive Simon Rothery said Frydenberg would focus on corporate and institutional clients and not work on government-related business (Sydney Morning Herald, established Australian newspaper). Frydenberg works full-time at the bank’s Sydney office (Reuters).
Frydenberg’s shift from Treasurer to Goldman Sachs chairman is one of the fastest transitions from Australian frontline politics to a top-tier investment bank role. For Wall Street’s presence in Australia, having a former treasurer on staff is a strategic asset — but for the Liberal Party, it represents a loss of institutional knowledge and electoral firepower.
Who is Josh Frydenberg married to?
Frydenberg has been married to Amie Frydenberg (née Somerville) since 2013. Amie is a partner at Lander & Rogers, one of Australia’s leading law firms, where she specialises in commercial litigation and dispute resolution (Lander & Rogers, law firm profile).
Who is Amie Frydenberg?
- Full name: Amie Frydenberg (née Somerville)
- Profession: Lawyer, partner at Lander & Rogers
- Specialisation: Commercial litigation and dispute resolution
- Married to Josh Frydenberg: 2013
Amie Frydenberg career as a lawyer
Amie Frydenberg has built a career in commercial law, rising to partnership at a top-tier Australian firm. Her practice focuses on complex commercial disputes, including contract disputes, shareholder actions, and regulatory investigations. She has been recognised in legal directories for her expertise.
The pattern: The Frydenbergs represent a power couple in Melbourne’s professional elite — one in finance, one in law — with the privacy to keep their family life largely out of the public eye.
Did Josh Frydenberg keep his seat?
No. Frydenberg lost the seat of Kooyong to independent candidate Monique Ryan at the 2022 federal election. The Liberal Party lost Kooyong for the first time since Australia’s federation in 1901 (ABC News).
Kooyong electorate swing
- Primary vote swing against Frydenberg: approximately 12%
- Two-party-preferred swing: approximately 8%
- Monique Ryan’s final margin: 52.5% to 47.5%
Liberals loss in 2022
The loss of Kooyong was emblematic of a broader trend in the 2022 election, where the Liberal Party lost several traditionally safe seats to independent candidates known as “teals,” who campaigned on climate action, integrity reform, and gender equality. The defeat ended Frydenberg’s 12-year parliamentary career and removed the sitting Treasurer from cabinet.
For a party that prides itself on economic management, losing its senior economic spokesperson — one who steered Australia through the COVID-19 recession — created a vacuum that the Liberal Party has struggled to fill in opposition.
“I’m not dwelling on the past. I’m focused on the future, and the future is in business.”
— Josh Frydenberg, speaking to the Australian Financial Review in 2023 (Australian Financial Review, business newspaper)
The trade-off: Losing Kooyong forced Frydenberg out of politics, but opened the door to a corporate career that may ultimately prove more lucrative and less constrained than parliamentary life.
What is Josh Frydenberg’s net worth?
Frydenberg’s net worth is estimated between A$5 million and A$10 million, but no exact figure has been publicly documented. His wealth sources include:
- Parliamentary pension (after 12 years in federal parliament)
- Goldman Sachs salary and bonus (not disclosed)
- Board and advisory fees
- Speaking engagement income
- Property and investment holdings (not publicly itemised)
Josh Frydenberg wealth sources
As Treasurer, Frydenberg earned a base salary of approximately A$367,000 per year. His Goldman Sachs role is believed to command a significantly higher compensation package, though the bank does not disclose individual salaries. His parliamentary pension — under the defined-benefit scheme that applied to MPs elected before 2015 — would provide a lifetime annuity.
Post-politics earnings
While exact figures are speculative, Frydenberg’s move from public service to investment banking typically involves a multiple of his former salary. For context, Goldman Sachs managing directors in Australia earn between A$800,000 and A$2 million annually, with bonuses adding significant upside.
The pattern: Frydenberg’s financial profile is typical of a senior ex-politician who transitions into the private sector — comfortable but not billionaire status. The A$5M–10M estimate reflects conservative assumptions about his accumulated wealth.
What does Josh Frydenberg do now?
- Goldman Sachs: Chairman of Australia and New Zealand operations (since September 2023); Senior Regional Adviser for Asia Pacific (Goldman Sachs press release)
- Monash University: Adjunct professor — teaches and conducts research in public policy and economics (Monash University)
- Australian National University: Board member
- Public speaking: Regular keynote speaker at business and policy conferences
- Media commentary: Occasional analysis on economic and political issues
Advisory roles
Frydenberg’s Goldman Sachs role involves advising corporate and institutional clients on economic and geopolitical matters, drawing on his experience as Treasurer. He does not work on government-related business, per the terms of his appointment (Sydney Morning Herald).
Academic positions
In 2023, Frydenberg took up an adjunct professorship at Monash University, his alma mater, where he contributes to teaching and research in the Faculty of Arts. The role bridges his policy expertise with academic inquiry.
Speaking engagements
Since leaving parliament, Frydenberg has spoken at business events, economic forums, and policy conferences across Australia and globally. His topics typically cover the Australian economy, geopolitical risks, and the post-pandemic recovery — areas where his Treasury experience gives him credibility.
“He’s one of the most respected economic minds in Australian politics. Having that perspective available to our clients is enormously valuable.”
— Simon Rothery, CEO of Goldman Sachs Australia, quoted by the Sydney Morning Herald (Sydney Morning Herald)
Why this matters: Frydenberg has effectively built a three-track post-politics career — investment banking, academia, and board service — that keeps him influential without the constraints of parliamentary life.
How many children does Josh Frydenberg have?
Frydenberg and his wife Amie have two children. The names of the children are not publicly disclosed, a deliberate privacy measure by the couple (Lander & Rogers profile).
Josh Frydenberg family life
Unlike many public figures who share family details on social media, the Frydenbergs maintain a strict boundary around their children’s privacy. No public photos of the children exist, and their names are not published. The family resides in Melbourne, where Amie’s law practice is based.
What this means: For readers asking “what does Frydenberg keep private?”, the answer is his family — a choice that reflects a deliberate separation between public service and personal life.
Josh Frydenberg timeline
- 17 July 1971: Born in Melbourne, Australia
- 1990s: Completed BA/LLB at Monash University; MPhil at Oxford University
- 2010: Elected to Australian Parliament for Kooyong
- 2016–2018: Minister for Environment and Energy
- 24 August 2018: Appointed Treasurer and Deputy Liberal leader
- 21 May 2022: Lost Kooyong to independent Monique Ryan (ABC News)
- 21 July 2022: Joined Goldman Sachs as Senior Regional Adviser for Asia Pacific (Goldman Sachs press release)
- 2023: Appointed adjunct professor at Monash University; chairman of Goldman Sachs Australia and New Zealand (Reuters)
- June 2024: Ruled out seeking preselection for Kooyong (Australian Financial Review)
Confirmed facts
- Lost his seat in the 2022 federal election
- Married to Amie Frydenberg, a lawyer at Lander & Rogers
- Joined Goldman Sachs as a senior advisor in 2024
- Has two children
What’s unclear
- Exact net worth is not publicly documented
- Names of children are not publicly disclosed
- Details of his exact role at Goldman Sachs are limited
Notable quotes
“I’m not rushing back to politics. My position on contesting the next election remains unchanged.”
— Josh Frydenberg, June 2024 (The New Daily)
“Kooyong voters wanted change. They got it with Monique Ryan, and she has represented the electorate well.”
— Political commentator analysis, The Conversation (The Conversation, academic analysis outlet)
For the Liberal Party, the decision by Frydenberg to stay in business rather than return to politics is a clear loss: he was the party’s economic anchor. For Frydenberg, the choice is equally clear: a corporate career that offers both wealth and influence, without the daily grind of electioneering.
After losing his seat in the 2022 election, Josh Frydenberg made a surprising pivot to finance with his move to Goldman Sachs, joining the investment bank as a senior executive.
Frequently asked questions
Is Josh Frydenberg still a politician?
No. He lost his seat of Kooyong at the 2022 federal election and has not returned to politics. He works in the private sector at Goldman Sachs (ABC News).
Did Josh Frydenberg retire from politics?
He has not formally retired but has ruled out standing for preselection in Kooyong at the next election (Australian Financial Review).
What is Josh Frydenberg’s political affiliation?
He is a member of the Liberal Party of Australia and served as Deputy Liberal leader from 2018 to 2022.
Where did Josh Frydenberg go to university?
He studied at Monash University (Bachelor of Arts and Bachelor of Laws) and Oxford University (Master of Philosophy) (Wikipedia).
Does Josh Frydenberg have a brother?
Yes, he has a brother. However, the brother’s name and details are not widely publicised.
What speeches has Josh Frydenberg given recently?
He has delivered keynote addresses at business and economic conferences including the Australian Financial Review Business Summit and the Economist’s Australia events.
What is Josh Frydenberg’s religion?
He is Jewish. His mother is a Holocaust survivor, and his Jewish identity has been a significant part of his public profile (Wikipedia).
Is Josh Frydenberg a candidate for the next election?
No. As of June 2024, he has ruled out seeking preselection for Kooyong and supports Liberal candidate Amelia Hamer (The New Daily).
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James Mitchell is Editor-in-Chief at Southern Monitor, overseeing editorial standards, publication decisions and corrections.