Net Worth: $2 billion
LAST YEAR: NEW
CHANGE: NA
AGE: 60
RESIDENCE: Malibu
SOURCE OF WEALTH: Investments
Rosenthal acquired most of his wealth through co-founding Ares Management Corp. in 1997. He serves as director, partner and chair of Ares Private Equity Group. In the last year, Ares stock increased by 49%. Prior to Ares, Rosenthal worked at Merrill Lynch & Co., Inc. where he served as a managing director in the Global Leveraged Finance Group. Rosenthal also recently became the lead managing owner and director of the Los Angeles Football Club. Valued at over $1.2 billion, the LAFC was Major League Soccer’s first billion-dollar franchise and recently was named winner of the Entrepreneur of the Year 2024 Greater Los Angeles Award by Ernst & Young LLP. Rosenthal serves on the board of directors for the parent entities of the Aspen Group, CHG Healthcare Holdings L.P., Duly Health and Care, LaserAway, Press Ganey Associates, Inc., TricorBraun and Unified Women’s Healthcare. Rosenthal also serves as chair of the Graduate Executive Board at the Wharton School of Business at the University of Pennsylvania. He earned a bachelor’s in economics and an M.B.A. from Wharton.
Education: University of Pennsylvania.Â
Sports Stake: Los Angeles Football Club.
Charitable Giving: LA Philharmonic donor.
Key dates
â—† 1986: Rosenthal was hired at Drexel Burnham Lambert after graduating from The Wharton School with an MBA. Fellow Wealthiest Angelenos Michael Milken and Antony Ressler also worked at the firm. The company has been defunct since the 1990s.
◆ 1989: Rosenthal started a job a Merrill Lynch,where he worked for almost a decade. He served as a managing director at the company’s Global Leveraged Finance Group.
◆ 1997: He co-founded Ares Management Corp, a credit- focused alternative investment firm. He serves as the director, partner and chair of Ares Private Equity Group. In the last year, Ares’ stock increased by roughly 49%, increasing Rosenthal’s net worth greatly.
◆ 2004: Ares Capital Corp., Ares’ business development company, went public.
◆ 2010: Ares acquired Allied Capital, increasing the firm’s size. It purchased Indicus Advisors and Wrightwood the next year.
â—† 2014: Ares Management went public. Its stock is sold on the New York Stock Exchange.
◆ 2016: Rosenthal became a co-managing owner of Major League Soccer’s Los Angeles Football Club. LAFC rotates its lead managing owner every four years. The team is worth more than $1.2 billion and counts Brandon Beck and Larry Berg as its other managing owners. Other owners include comedian Will Ferrell and Earvin “Magic” Johnson.
â—† 2020: Ares purchased SSG Capital Holdings, one of the largest alternative investment managers in Asia Pacific.
â—† 2021: The company bought Landmark Partners and Black Creek Group and launched its Secondaries Group and Ares Wealth Management Solutions.
