Net Worth: $1.6 B
LAST YEAR: 1.7
CHANGE: -3.5%
AGE: 63
RESIDENCE: Pacific Palisades
SOURCE OF WEALTH: Investments
THE MONEY: “The Bond King” made his mark in the financial world after correctly forecasting the subprime mortgage crisis of 2007, and he dedicated much of the last year to trying to make lightning strike twice. When rising interest rates, inflation and shrinking liquidities began to trigger alarms in the early part of last year, Gundlach was among the first and most vocal experts warning of a devastating recession.
THE BUZZ: Gundlach’s DoubleLine Capital managed more than $96 billion in assets as of June, according to a report from the company. The portfolio has steadily shrunk since a pre-pandemic peak of around $150 billion as of December 2019, with the company reporting $107 billion in managed assets in July of last year. DoubleLine had been headquartered in Glendale since its founding in December 2009 following Gundlach’s well-publicized split from TCW Group, but the money management firm in February of last year announced that it had relocated its headquarters to Tampa, Florida. Gundlach remains registered as living in Pacific Palisades.
