Net Worth: $1.3 billion, up 8.3 percent
LAST YEAR: $1.2 billion
RESIDENCE: Pacific Palisades
SOURCE OF WEALTH: Investments
THE MONEY: Founder of DoubleLine Capital, which has been bursting at seams with assets under management. Specialty is mortgage-backed securities. Said to keep significant assets outside financial system; avid art collector.
THE BUZZ: Often referred to as “bond king,” Gundlach hotly watched and oft-quoted bond investor. DoubleLine manages $95 billion as of March 31. He started firm in 2009 after being fired by TCW Group, where Gundlach worked for 24 years. Left under cloud after TCW accused him of taking proprietary information. Parties settled dispute in 2011. Buffalo, N.Y.-native moved to Los Angeles after dropping out of Yale’s theoretical mathematics doctoral program with hopes of becoming rock drummer. Went broke; sent out resumes to investment managers after seeing an episode of “Lifestyles of the Rich and Famous.” Has large collection of modern and contemporary art including works by Andy Warhol, Franz Kline, and Piet Mondrian.
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