Howard Marks Net Worth
Howard Marks Net Worth: Howard Marks is an American investor who has a net worth of $1.8 billion. Born Howard Stanley Marks in 1946 in Queens, New York, he made his fortune working in different investment partnerships until he co-founded Oaktree Capital Management. A Wharton graduate who holds an MBA of University of Chicago, Marks started his career path in 1969 working as an equity research analyst for First National Citibank (later became Citicorp). Then, Marks was appointed Director of Research, and several years later, he became company's Vice President. In 1985, he joined TCW where he was responsible for investments in high-yield bonds and convertible securities. Marks also served as Chief Investment Officer for domestic fixed income, and TCW's President of the asset management. After a decade of working, he left TCW, and together with his co-worker Bruce Karsh, he launched Los Angeles-based Oaktree Capital Management in 1995. The investment company grew fast, specializing on distressed debt, high-yield bonds, and private equity. In 2012, the two partners took Oaktree Capital Management public, selling approximately $90 million-worth stake. Currently, they hold 13% of the investment company, which owns $76 billion assets under management, and money from 75 of the 100 pension plans in U.S. Moreover, Marks is known for his writings to his clients known as "Oaktree memos" in which he writes about his investment strategies in detail and gives insight into his views of the economy.