Ressler is the founder and chairman of Ares Management, an alternative-asset manager with about $334 billion of assets under management. The Los Angeles-based firm specializes in credit investments and is one of the world's largest direct lenders. It's also involved in leveraged buyouts and real estate.
Tony Ressler's net worth of $5.99B can buy ...
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Ressler controls 30% of publicly traded Ares Management, based on the Los Angeles-based company's 2022 proxy statement. The firm had $334 billion of assets under management as of July 2022, according to its website.
He's the majority owner of National Basketball Association franchise Atlanta Hawks. He's credited with a 51% stake in this analysis because he's the majority owner. The stake's valued based on the December 2021 report on NBA team valuations by sports consultants Sportico. Ressler is also a minority owner of the Milwaukee Brewers. The size of his stake isn't disclosed and he's credited with a 6% stake based on the size of the ownership group.
His cash balance is based on an analysis of dividends, market performance, insider transactions, taxes, asset purchases and charitable contributions. This includes distributions paid to him and estate planning vehicles in 2011, 2012, 2013 and 2014, less his investments into the fund in those years, which were disclosed in the prospectus before the company went public in 2014.
Bill Mendel, a spokesman for Ares at Mendel Communications, declined to comment on Ressler's net worth.
Antony P. Ressler was born in 1960. He rose to head the new-issue desk at Los Angeles-based Drexel Burnham Lambert, which helped pioneer the leveraged buyout before declaring bankruptcy in 1990. That year he co-founded private equity firm Apollo Management with billionaire Leon Black, according to Ares' prospectus.
Seven years later he left to co-found Ares Management, the alternative-asset manager which focuses on credit and private equity transactions. The company filed for an IPO in March 2014 and its shares listed on the NYSE two months later.
The billionaire is married to actress Jami Gertz, and has three sons. His sister, theater producer Debra, is married to Black. His brother Richard is a co-founder of real estate manager CIM.