Net Worth: $5 B

LAST YEAR: $4.9 B
CHANGE: 2%
AGE: 63
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Private equity

THE MONEY: Ressler is the co-founder and executive chairman of Century City-based asset manager Ares Management Corp. He owns a major stake in the firm, which had $325 billion in assets under management at the end of April. That’s up 36% from 2021, which saw a 60% increase in Ares’ AUM from the previous year. These gains helped Ares’ stock hold ground amid significant market turmoil. As of July, it sat exactly where it did in July 2021, around $65 a share. In the same time period, the S&P 500 declined roughly 8.5%. Ares wrapped last year with the announcement that it raised $2.2 billion of dedicated climate infrastructure capital. Ares’ recent company acquisitions, capped off by the $1.1 billion purchase of Landmark Partners in March 2021, have slowed in favor of acquisitions that enhance Ares’ platform.

THE BUZZ: Prior to co-founding Ares Management Corp. in 1997, Ressler co-founded asset management giant Apollo Global Management Inc. with his brother-in-law Leon Black. The billionaire is invested in several major sports teams. He is a minority owner of the Milwaukee Brewers baseball team and principal owner and chair of the Atlanta Hawks Basketball Club.