Rank #1890
Howard Marks
Net worth $2.2B
Private equity · United States
- Born
- Apr 23, 1946
- Age
- 80
- Source
- Private equity
- Residence
- New York, New York
- Citizenship
- United States
- Marital status
- Married
- Children
- 2
- Education
- Bachelor of Arts/Science, University of Pennsylvania, The Wharton School
Net worth over time
Biography
- Howard Marks is the cofounder and co-chairman of Oaktree Capital Management, a Los Angeles-based distressed debt investor with over $220 billion in assets.
- Marks began his career at Citibank, where he started a portfolio of high-yield bonds after meeting with junk bond king Michael Milken.
- He became an asset manager at TCW, where he met Oaktree cofounder Bruce Karsh. The duo left with four colleagues in 1995 to found their own shop.
- In September 2019, Brookfield Asset Management acquired 61% of Oaktree for about $4.9 billion in cash and stock. It agreed to buy the rest for $3 billion in 2025.
- He and Karsh still head up Oaktree, which continues to operate independently of Brookfield. His stake in the firm is now about 7.5%.
- Marks is known for his highly detailed investment memos, which cover everything from cryptocurrency to index investing.
- The Wharton and UChicago alum minored in Japanese studies, which he became interested in after signing up for a mandatory literature class.
Financial assets
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