Yaeger graduated Phi Beta Kappa from the University of California. He has been a theatrical producer, writer, actor, director, and critic. He conceived and cofounded The Albert Schweitzer Music Award. As president of the Creo Society, he co-produced many large fund-raising special events. Since 1992 he has been president of a consulting firm that was active in St. Petersburg, Russia as an advisor to the government of former Mayor Anatoly A. Sobchak.