Net Worth: $8.7 billion

LAST YEAR: $6.4 billion
CHANGE: 36%
AGE: 65
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Private equity

One decade removed from his first appearance on the Wealthiest Angelenos’ list, Ressler marked 2024 with what could be his best year yet financially. His significant ownership of Ares Management Corp. stock – a Beverly Hills private equity company he co-founded in 1997 – has paid off, as ARES stock has gained approximately 43% in the last year, from $98.21 a share to $140.59 a share – as of Aug. 12. Ressler’s stake in Ares Commercial Real Estate Corp. is worth approximately $15 million. Prior to Ares, he co-founded Apollo Management LP, where he led its capital markets activities focused on high-yield bonds, leveraged loans and distressed debt. He began his career at Drexel Burnham Lambert, climbing the ladder to senior vice president in its bond department before its bankruptcy in 1990.

Education: He has a Master of Business Administration from Columbia Business School and a Bachelor of Science in Foreign Service from Georgetown University.

Sports Stake: Ressler’s has a 50% stake of the Atlanta Hawks which has seen its value roughly double in the last year.