After the Federal Reserve implemented dovish monetary policies and the U.S. Treasury bailed out the company, Blankfein took advantage of low interest rates to undercut competition from other investment banks and established Goldman Sachs as the second largest investment bank in the U.S. as others either went bankrupt or fell to acquisition. Blankfein was twice named one of the most influential people in the world by "Time" magazine and won the "Financial Times" Person of the Year award in 2009. According to Bloomberg News, his net worth is estimated to be US$1.1 billion as of July 2015. His salary at Goldman Sachs in 2018 was estimated to be $24 million.