Howard Marks
New York, New York
Bachelor of Arts/Science, University of Pennsylvania Wharton School
United States
Oaktree Capital Group LLC
8
private equity, Self Made
$2,100,000,000
1168
#1168 Billionaires 2019
#374 Forbes 400 2017
Howard Marks is the cofounder and cochairman of Oaktree Capital Management, a Los Angeles-based distressed debt investor.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.The firm has grown from managing $5 billion at its inception to over $120 billion.Oaktree went public in 2012; Marks owns roughly 10% of the firm, which accounts for a large chunk of his fortune.
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.
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