Net Worth: $1.48 billion, down 7.5 percent

LAST YEAR: $1.6 billion

AGE: 56

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Private equity

THE MONEY: Co-founder of Century City private equity and debt behemoth Ares Management owns about one-third of firm. Received more than $72 million in compensation and distributions from Ares in 2015 and is invested in several of company’s funds, though publicly traded stock down compared with last year.

THE BUZZ: Ares aborted previously announced $2.55 billion merger with Kayne Anderson Capital Advisors last year after firms disagreed on best way to unite given energy-sector market conditions. As result, Ares and some of its executives committed to invest $150 million in Kayne’s energy activities. Ressler’s firm has found value investing in everything from chic Neiman Marcus to cheap 99 Cents Only Stores. Private equity division recently raised $7.85 billion for Ares Corporate Opportunities Fund V. Before launching Ares in 1997, co-founded New York private equity firm Apollo Global Management and worked at doomed debt outfit Drexel Burnham Lambert. Ressler led group that bought pro basketball’s Atlanta Hawks for $730 million last year. He already held minority stake in baseball’s Milwaukee Brewers. Board member of Cedars-Sinai Medical Center, co-chairman of Los Angeles County Museum of Art, trustee of alma mater Georgetown University. Married to actress Jami Gertz, who most recently starred in sitcom “The Neighbors.”

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