Behind Caroline Ellison: Meet Her Two MIT Economist Parents

The 2024 FTX-Alameda fraud case brought Caroline Ellison into the public eye as a key witness, but it has also cast a spotlight on her family background, particularly her accomplished parents. Caroline Ellison’s mother and father, both prominent figures in academia, watched from the courthouse as their daughter received a two-year federal prison sentence in autumn 2024. The case has become an unexpected intersection between the worlds of high finance crime and prestigious academic institutions.

Family Present at Sentencing

Caroline Ellison’s parents, Glenn and Sara Fisher Ellison, attended their daughter’s sentencing along with her two younger sisters. Judge Lewis Kaplan handed down the two-year prison term, which came as a disappointment to the family. While Ellison’s legal team had requested no jail time and prosecutors had recommended leniency given her cooperation with the government’s case against Sam Bankman-Fried, federal sentencing guidelines proved stricter than hoped. The judge did grant one concession: Caroline Ellison was permitted to serve her sentence at a facility near her family in Boston, allowing her to maintain proximity to her support system during her incarceration.

Dual Careers in Economics at MIT

What makes Caroline Ellison’s parents particularly noteworthy is their distinguished standing within academia. Both Glenn and Sara Fisher Ellison hold positions at the MIT Department of Economics—one of the world’s most prestigious economics programs. Glenn serves as a full professor and previously held the position of Department Head for two terms, bringing significant institutional experience. Sara holds the rank of senior lecturer, contributing to the department’s teaching and research mission.

Their academic interests span diverse areas of economic inquiry. Glenn’s research encompasses game theory, industrial organization, education, finance, and economic geography. He has authored papers on topics ranging from tax policy and technology to gender disparities in mathematics education. Beyond traditional research, Glenn has also created the “Hard Math” textbook series for elementary and middle school students, extending his influence into education policy. Sara’s scholarly work focuses primarily on e-commerce dynamics and pharmaceutical industry economics, examining how digital platforms affect market competition and pricing mechanisms.

Collaborative Academic Work

Throughout their careers, Glenn and Sara Fisher Ellison have occasionally combined their expertise, co-authoring academic papers together. Their joint work includes “Lessons About Markets From the Internet” (2005) and “Search and Obfuscation in a Technologically Changing Retail Environment” (2018). In their most recent collaboration, the two economists analyzed how short-term rental platforms like Airbnb reshape property markets, arguing that while such services can increase social welfare through more efficient land use, they simultaneously risk worsening housing shortages in major cities.

Navigating Family Crisis

Since Caroline Ellison’s involvement in the FTX scandal became public, her parents have largely maintained a low profile. Although they have appeared at legal proceedings and been photographed at various public moments, the Ellisons have generally declined to engage with media inquiries. Their daughter’s legal troubles represent a marked departure from the family’s academic trajectory, introducing an unprecedented chapter into the family’s public record. As Caroline Ellison begins serving her sentence, her parents continue their academic pursuits at MIT while managing their family circumstances away from the spotlight.