Antony Ressler Net Worth

Antony Ressler’s Net Worth: A Deep Dive into the Billionaire Businessman

Antony Ressler: Overview and Net Worth

Antony Ressler, often known as Tony Ressler, is a prominent American businessman, sports team owner, and philanthropist. He has built a substantial fortune through strategic investments and the creation of successful asset management firms. As of the latest reports, Antony Ressler’s net worth is estimated to be $8 billion, solidifying his position as one of the wealthiest individuals in the United States. His financial success stems primarily from his involvement in the private equity industry, where he has co-founded and played key roles in managing significant assets.

Ressler’s influence extends beyond the financial world. He is married to actress Jami Gertz, further amplifying his public profile. Their long-lasting marriage, which began in 1990, has also contributed to Jami Gertz’s status as a high-profile and wealthy celebrity. She is known for her acting career and is recognized as one of the richest celebrities globally, a position greatly influenced by Ressler’s financial achievements.

Early Life and Education

Born on October 12, 1960, Antony Ressler grew up as one of five children. His upbringing provided a foundation that likely influenced his drive and ambition. Ressler’s educational background is impressive, having earned a Bachelor of Science in Foreign Service (B.S.F.S.) from Georgetown University. He then went on to obtain a Master of Business Administration (MBA) from Columbia University’s Graduate School of Business. These academic achievements equipped him with the knowledge and skills necessary for a successful career in the business world.

Drexel Burnham Lambert: The Early Career and the Scandal

Before establishing his own ventures, Antony Ressler gained valuable experience at Drexel Burnham Lambert Incorporated, where he served as Senior Vice President of High Yield Bonds. This role placed him at the heart of the financial market, providing him with insights that would prove crucial in his later endeavors.

However, Drexel Burnham Lambert’s history is also marked by scandal. The firm was forced into bankruptcy in 1990 due to its involvement in illegal activities within the junk bond market. This scandal, driven by the actions of Michael Milken, a senior executive at the firm, sent shockwaves through the financial industry. The scandal began in 1986 when Ivan Boesky, a former Drexel client, was convicted of insider trading and implicated Milken and Drexel in his illegal financial dealings. The Securities and Exchange Commission (SEC) launched an investigation, leading to significant repercussions.

In 1988, Drexel agreed to pay $650 million in fines to settle charges of securities fraud. Milken left the firm the same year, and he was later convicted of securities fraud and sentenced to prison. The scandal significantly impacted the junk bond market, leading to the bankruptcy of other investment banks and eroding public confidence in Wall Street. The repercussions of the scandal highlighted the importance of ethical practices and robust regulation within the financial sector.

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Apollo Global Management: Founding and Success

In the aftermath of Drexel Burnham Lambert’s collapse in 1990, Antony Ressler, along with former Drexel colleagues Leon Black, Joshua Harris, and Marc Rowan, co-founded Apollo Global Management. This marked a pivotal moment in Ressler’s career, allowing him to leverage his experience and establish himself as a leader in the private equity sector. Under their leadership, Apollo Global grew rapidly, accumulating over $500 billion in assets under management.

The four co-founders of Apollo Global have all achieved billionaire status. Leon Black, one of the co-founders, is known for owning a valuable private art collection. Joshua Harris, another co-founder, has expanded into sports team ownership, owning the Philadelphia 76ers (NBA), the New Jersey Devils (NHL), and the Washington Commanders (NFL). Marc Rowan became CEO in 2021 after Leon Black stepped aside amid scrutiny regarding his connections to Jeffrey Epstein.

Ares Management: Another Venture

In 1997, Antony Ressler co-founded Ares Management, LLC, further diversifying his business interests. This asset management firm has grown significantly since its inception, currently managing over $300 billion in assets for various companies and individuals. Ares Management operates globally with offices in major cities across the world, including Los Angeles, London, New York, and Shanghai, among others. Ressler owns a significant stake in Ares Management, approximately one-third of the company.

Personal Life and Philanthropy

Antony Ressler’s personal life is centered around his family and his commitment to philanthropy. In 1990, he married actress Jami Gertz, and the couple has three children together. Their primary residence is in the Los Angeles area, where they own multiple impressive properties, including a large estate in Beverly Park and a beachfront mansion in Malibu.

Jami and Tony Ressler are actively involved in charitable endeavors, serving on the boards of several non-profit organizations. These include Cedars-Sinai Medical Center, Campbell Hall Episcopal School, and the Los Angeles County Museum of Art. Their consistent generosity has earned them recognition as some of the most philanthropic celebrities and individuals in Los Angeles.

Adding another layer of connection, Antony Ressler’s sister, Debra, is married to Leon Black, his former partner at Apollo Global Management. Leon and Debra Black are also extremely wealthy, with a combined net worth of $11 billion, and are known for their valuable private art collection, which includes a version of Edvard Munch’s “The Scream”.

Further linking the family, Jami Gertz’s sister, Sharyn Gertz, was the real estate agent who facilitated the sale of Tom Cruise’s Beverly Hills mansion to Leon and Debra Black in 2016.

(Photo by Charley Gallay/Getty Images for LACMA)

Sports Team Ownership: Atlanta Hawks and Milwaukee Brewers

Antony Ressler’s business interests extend into the world of sports. In 2005, he was part of an investment group that acquired the Milwaukee Brewers for $223 million. Ressler and his wife, Jami, hold minority ownership in the team. This was a significant move that demonstrated Ressler’s interest in the sports industry.

A more prominent venture came in 2015 when Ressler led an investor group to acquire the Atlanta Hawks of the NBA for $730 million. His co-investors included NBA legend Grant Hill and other notable figures such as Marquis Jet founder Jesse Itzler and Sara Blakely, the founder of Spanx. The acquisition of the Hawks solidified Ressler’s presence in the world of professional sports and raised the profile of the Hawks franchise within the league. Ressler’s investment in the Hawks was a bold move in the sports industry.

In 2012, Ressler and Jami, along with a group of investors, also made an unsuccessful bid to purchase a majority stake in the LA Dodgers, showing their ambition to be involved with one of the most iconic franchises in baseball.

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Conclusion

Antony Ressler’s journey from a high-yield bond specialist to a multi-billionaire is a testament to his business acumen, strategic investments, and entrepreneurial spirit. His involvement in the creation and management of Apollo Global Management and Ares Management has been instrumental in building his vast wealth. His personal life, including his marriage to Jami Gertz, and his philanthropic endeavors further demonstrate his commitment to making a positive impact. His ownership of sports teams shows his interest in this field, and his continuing success solidifies him as a significant figure in both the financial and sports industries.