#34 – Bruce Karsh
Net Worth: $765 million -49%
Last Year: $1.5 billion
Residence: Los Angeles
Source of Wealth: Money management, private equity
Karsh, president and portfolio manager of Oaktree Capital Management, holds stake in money manager equal to fellow co-founder Howard Marks. Tight-lipped about finances, but Marks told the Business Journal his Oaktree stake had lost about half its value in past year.
Like partner Marks, Karsh a big Democratic Party donor. In October, Karsh and attorney wife Martha co-hosted $28,500-a-plate dinner to benefit Barack Obama? presidential campaign. Couple founded Karsh Family Foundation, an education-focused charitable organization said to have made pledges and gifts in excess of $50 million. Before co-founding Oaktree with Marks, Karsh served as assistant to Eli Broad and later became managing
director of Trust Company of the West. Earned bachelor? degree from Duke University and a J.D. from University