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Wednesday, Feb 8, 2023

Wealthiest Angelenos: 48, Jeffrey Gundlach

NET WORTH: $1.2 billion

LAST YEAR: Not on list

AGE: 55

RESIDENCE: Pacific Palisades


THE MONEY: Had been rumored to be close to this list for some time, but surged into billionaires club as his DoubleLine Capital continued to reel in assets under management. Specialty mortgage-backed securities. Also said to keep substantial assets outside of financial system.

BUZZ: Flamboyant bachelor, who has built reputation as next “bond king” – displacing former Pacific Investment Management Co. boss Bill Gross – might be highest-profile bond investor nowadays, outperforming nearly all peers. Former rock drummer started DoubleLine in 2009 after being fired by TCW Group, where he had worked for 24 years. TCW accused Gundlach of stealing proprietary information as well as keeping pornography and marijuana in his office. Two parties settled in 2011. Allegedly helped police nab burglars who had broken into his former Santa Monica home and stolen art by instructing them to look out for Google searches involving painting signed by his grandmother, who had uncommon name. Western New York native also reported to have looked into buying pro football’s Buffalo Bills.

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