NET WORTH: $1.35 billion +8%
LAST YEAR: $1.25 billion*
SOURCE OF WEALTH: Money management, private equity
THE MONEY: Oaktree Capital Group had weak IPO but firm co-founder still benefited, with shares valued at roughly $900 million. Also saw value rise of personal stake in firm’s funds. IPO filings shed new light on Marks’ net worth, prompting increase in past valuation.
BUZZ: Despite tough stretch for Oaktree, bought Hawaiian luxury hotel last year, made play for toymaker Jakks Pacific and currently raising money for distressed debt fund. Owns stake in ex-TCW star Jeffrey Gundlach’s firm, DoubleLine Capital. Marks spends third of each year in Europe to assist Oaktree’s expansion. Active donor to Democratic Party. Has endowed scholarships at Brown University and alma maters University of Pennsylvania and University of Chicago. Recently published first book, “The Most Important Thing,” offering investment advice. High-yield bond expert started at Citigroup and joined TCW in 1985. Contentious split in 1995 as Marks and colleagues started Oaktree. Owns Brentwood estate, $30 million Hamptons house, and recently bought $53 million Manhattan duplex.
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