Howard Stanley Marks was born on 22nd April 1946, in New York City, USA, and is a successful investor, the co-founder and co-chairman of the Oaktree Capital Management firm. Also, he is a writer, and so far has authored “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”, which was published in 2011. His career began in 1969.
Have you ever wondered how rich Howard Marks is, as of early 2017? According to authoritative sources, it has been estimated that Marks` net worth is as high as $1.83 billion, an amount earned through his successful career as an investor.
Howard Marks Net Worth $1.83 Billion
Howard is of Jewish ancestry, however, his parents didn`t practice religion and he was raised a Christian Scientist in Queens, New York City, and then went to Wharton School at the University of Pennsylvania, receiving cum laude honors, with a major in finance in 1967, while also studying a minor in Japanese Studies. He then enrolled in the Booth School of Business at the University of Chicago, from which he received an MBA in Accounting and Marketing, while also winning the George Hay Brown Prize. Howard moved back to New York, but in 1980 chose Los Angeles, California as his home.
Howard`s professional career began in the late ‘60s, when he joined Citicorp as an equity research analyst, and he then became Director of Research. In 1978 he became Vice President of the Citicorp, but left in 1985 and joined TCW Group, which is an asset management firm, with responsibility for investments in convertible securities and high-yield bonds, while also serving as the Chief Investment Officer for fixed income, while concurrently being President of TCW Asset Management Company.
He left TCW in 1995, along with five other people and they formed the asset management firm Oaktree Capital Management. Their investment fund grew with immense speed, making Howard firstly a millionaire and as time went by, a billionaire. However, their firm experienced a crisis in 2008 as did many investment and finance companies, but the company managed to recover, and make their firm even wealthier.
Regarding his personal life, Howard is married to Nancy Freeman Marks, and the couple has one child together, while Howard is also step-father to Nancy`s child from her previous relationship. He was previously married, but details are lacking.
Having amassed such wealth, Howard decided to return something to community and started the Howard S. Marks Terms Scholarship, at the University of Pennsylvania back in 1992. After that, in 2009 he started the Marks family Writing Center, also at the University of Pennsylvania. In 2000 he became the chairman of the Trustees` Investment Board at the University of Pennsylvania, and served in the position until 2010, only to be named as Emeritus Trustee in 2016. To speak further of his philanthropic works, Howard is on the board of several cultural, educational and charitable organizations and facilities, including the Metropolitan Museum of Art, Edmund Safra Foundation, Royal Drawing Room, among many others.
