Billionaires

Marc Lasry Net Worth

Published

10 months ago

June 14, 2023

Daniel Wanburg

Marc Lasry's Net Worth as of 2024
$1.64 Billion

Marc Lasry was born in 1960 in the city of Marrakesh in the Kingdom of Morocco. He has largely amassed his large fortune from his illustrious career as a hedge fund manager. He co-founded and is the CEO of Avenue Capital Group, as well as the current co-owner of the Milwaukee Bucks, a professional basketball team in the NBA.

Have you ever wondered how rich Marc Lasry is as of late 2016? According to authoritative sources, Lasry’s net worth has been estimated to be over $1.65 billion, earned by being good at his job as a hedge fund manager.

Marc Lasry Net Worth $1.64 Billion

Although a citizen of the United States, Lasry was actually born in Morocco to a family of Moroccan Jews. When he turned seven, the family decided to immigrate to the US, and moved to Hartford, Connecticut, where he subsequently spent the rest of his childhood. In 1977 he left home to attend college at Clark University in Worcester, Massachusetts, graduating with a BA degree in history, then went on to get his J.D. at New York Law School in 1984. During his time as a college student he gained some experience for his future career by working as a clerk for the Chief Bankruptcy Judge of the Southern District of New York, Edward Ryan.

After finishing school, Lasry was hired by the law firm Angel & Frankel, where he worked in the bankruptcy division. A year after that, the investment firm R.D. Smith hired Lasry as the Director of Private Debts, and it was here that Lasry became interested in trade claims. After that he went on to work for Cowen & Company, where he was the Co-Director of the Bankruptcy and Corporate Reorganization Department, hiring his sister, Sonia Gardner, to assist him in trade claims. Eventually he left Cowen & Company and went to work for the Robert M. Bass Group, where he specialized in distressed security investments. His net worth was rising steadily.

Having spent five years out of college working for other companies, in 1989 Lasry decided it was time to have his own company, so that year along with his sister, Lasry founded Amroc Investments, made possible with $100 million in seed money from a variety of investors.

Lasry used the company to buy trade claims and bank debt, and finding success with Amroc Investments, the siblings decided to found Avenue Capital Group, doing so in 1995 with $7 million from Amroc Investments, and which would focus on distressed debt and other special situations. Although it was originally a United States oriented company, it went on to cover markets in Europe and Asia, and Avenue Capital Group now manages over $11 billion in assets.

Having found such huge success in the hedge fund industry, Lasry was catapulted to stardom, even once being considered for appointment as the US ambassador to France in 2013, which he ultimately declined due to business reasons. A year after that, Lasry decided to expand out of the hedge fund business, and purchased the Milwaukee Bucks basketball team for $550 million, which also potentially increases his net worth.

Regarding his personal life, Marc is married to Catty Cohen, with whom he has five children; one of his children, Alexander worked for Valerie Jarret, who was a White House senior adviser.

Having amassed such a large fortune, Lasry eventually turned to philanthropy. He has donated millions to various colleges, including the University of Pennsylvania and Clark University. He is also a major donor to the Democratic Party

Daniel Wanburg

As the Managing Editor at NetWorthPost, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications. At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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Billionaires

Mark Zuckerberg Net Worth

Published

3 weeks ago

March 20, 2024

Daniel Wanburg

Mark Elliot Zuckerberg was born on 14 May 1984, in White Plains, New York State USA into a Jewish family. He is known for making billions of dollars at a very young age. However, even if a lot of people are jealous and sceptical about Mark, they should admit that not only does he deserve all that he has, but also respect and admiration for being smart and inventive. He has created a virtual empire which we all acknowledge nowadays: is there anyone in the world who has not heard of Facebook!

So how rich is Mark Zuckerberg? According to Forbes Magazine and Bloomberg’s Billionaires list, Zuckerberg‘s net worth is estimated at $56 billion as of early-2017, making him the seventh richest person in the world, up from 15th just nine months earlier. What strikes as most comic is that Mark has a salary of only $1 dollar per year as CEO of Facebook, however, that doesn‘t stop him from being a self-made billionaire, now head of a company ranked in the 10 largest in the world, valued at $275 billion.

Mark Zuckerberg Net Worth $56 Billion

Mark was indeed an ‘A’ grade student, apparently excelling in many subjects when at Ardsley High School, ranging from physics to classics. However, above Mark‘s interest in computers stands his father. He introduced Mark to computers and wanted him to take an interest in them. Edward Zuckerberg taught his son Atari BASIC programming and later hired a software developer to train Mark privately once a week. According to David Newman, the above-mentioned tutor, the kid was unbelievably talented and soon left his teacher standing and breathless. When Zuckerberg joined the community of Harvard University, he already had a reputation as a programming genius, because “Facebook” wasn‘t actually the first convenient and useful program he had developed. His works, such as Synapse Media Player, CourseMatch and Facemash received a lot of attention and popularity. Still they cannot rate with Facebook.

Unsurprisingly, a person who begins a world-wide revolution of communication faces a lot of problems, difficulties, intrigues and scandals. Mark was accused by his former friends, the Winklevoss twins, Cameron and Tyler, of stealing their ideas. The brothers actually dreamed of building a connection between all the students of Harvard University. As we all know now, Mark improved this idea by enlarging the range of people who were allowed to use this social network. So, the accusations were at least true in part and Zuckerberg was forced to give away 1.2m Facebook shares to them. Thus there‘s always a bright side of things – the company that Mark set up has made a lot of people wealthy, not just him alone.

Regardless, according to Vanity Fair magazine, Zuckerberg was the most influential person of the Information Age in 2010. That‘s surprising because a year before he ranked only at number 23 on the same list. What‘s more, not only does Vanity Fair consider Mark as the world‘s most influential in this relatively new industry, but also New Statesman. In 2010, they ranked him as number 16 in the top 50 of the world’s most important figures. “Facebook” is considered to be the biggest social networking website on the planet, used by people of all ages, sex or nationality. Zuckerberg is respected because all he had to create such a network were his ideas and fingers that instinctively knew what to press on a keyboard.

Even though Mark Elliot Zuckerberg lost all of his friends and it doesn‘t seem that he‘s ever going to regain them, he at least has a reliable source of income – Facebook, of course. All the other similar companies that Facebook has obtained recently such as Instagram, WhatsApp, and some more must also be taken into account.

In his personal life, Mark Zuckerberg married Priscilla Chan in 2012, having met her originally in 2002. Aside from his career, Mark is a noted philanthropist, particularly to educational projects. In 2010, he joined with Bill Gates and Warren Buffett in promising to donate half of his wealth to charity over time. In 2013 he donated shares valued at $990 million to the Silicon Valley Community Foundation, and the following year $25 million towards combating the ebola disease.

Billionaires

Gautam Adani Net Worth

Published

3 weeks ago

March 20, 2024

Daniel Wanburg

Gautam Shantilal Adani was born on the 24th June 1962, in Ahmedabad, Gujarat, India and is a businessman, widely known as a founder and the chairman of the multinational conglomerate Adani Group. Adani has been active in the business of coal mining and gas distribution since 1988.

How much is the net worth of Gautam Adani? It has been estimated by authoritative sources that the overall size of his wealth is as much as $8.8 billion, as of the data presented in the middle of 2017. Adani Group is the main source of Adani’s fortune.

Gautam Adani Net Worth $8.8 Billion

To begin with, the boy with his seven siblings, was raised in Ahmedabad by his parents Shanta and Shantilal Adani. He was educated at the Sheth Chimanlal Nagindas Vidyalaya school, then entered Gujarat University to study commerce, yet he dropped out.

Currently, the billionaire Gautam Adani owns the largest brand of oil in India. The company was founded in 1988, with Gautam the founder and current president. He said he created his Group with a vision of Nation Building, that is to say by developing assets that he believes are important economic issues for the country. The Adani Group has grown rapidly by diversifying into import – export – it opened its own port in Mundra, to better control its trading operations. Construction began in 1995 and in 1998 it became one of the major sources of foreign exchange for India.

The following year, the company embarked on financial and energy speculation with coal trading, and soon created a joint venture (Adani Willmar) in the field of petroleum products trading in 2000. A second phase began for the group with the creation of large infrastructures. The company created a portfolio of ports, power stations, mines and a fleet of ships and railway lines in and out of India. In 2006, the company became the largest importer of coal in India – 11 million tons. Adani sought to be less dependent on the coal market, so he started to buy and control coal mines. Thus, he bought the Australian group Linc Energy, in order to supply the group’s coal-fired power stations. In 2008, he bought the Bunyu mine in Indonesia , with 180 million tons of coal reserves, and the following year, Adani Group became an energy company, producing 330 MW of thermal energy. In 2011, the group also decided to buy the exploitation rights of a large part of the Galilee coal basin in Australia. To prepare for the import of Australian coal, he ordered a large-capacity coal terminal at Mundra (the largest in the world) and in the same year he bought the Australian port of Abbot Point. This project is yet to come to fruition.

In 2012, the Group began a 3rd phase of development as integration infrastructure, renewing its logo and developing a new identity. The company focuses on three areas: resources, logistics and energy. Subsequently, under the direction of Gautam Adani, the Adani Group became a multinational conglomerate active in the production of electricity – especially through coal – and port terminals, logistics and agribusiness. It is India’s largest developer and port operator. The Group is the major source of Gautam Adani’s net worth.

Finally, in the personal life of Gautam, he is married to Priti and they have two children.