What is Antony Ressler's net worth?
Antony Ressler is an American businessman, sports team owner and philanthropist who has a net worth of $8 billion. Also known as Tony Ressler, he earned his fortune in the private equity industry. Tony is a co-founder of both Apollo Global Management and Ares Management which have $500 billion and $300 billion in assets under management, respectively. He is also known for being married to actress Jami Gertz. They have been married since 1990 and his fortune is the driving factor that makes Jami one of the richest celebrities on the planet.
Early Life
Antony Ressler was born on October 12, 1960. He is one of five children. Tony earned his B.S.F.S. from Georgetown University, and then graduated from Columbia University's Graduate School of Business with an MBA.
Drexel Burnham Lambert
He went on to serve as the Senior Vice President of High Yield Bonds at Michael Milken's Drexel Burnham Lambert Incorporated.
Drexel Burnham Lambert was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken.
The scandal began in 1986, when Ivan Boesky, a former Drexel client, was convicted of insider trading. Boesky implicated Milken and Drexel in his illegal financial dealings, and the Securities and Exchange Commission (SEC) began investigating the firm.
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 six counts of securities fraud and sentenced to 10 years in prison. He served 22 months.
The scandal had a significant impact on the junk bond market, and it led to the bankruptcy of several other investment banks. It also shook public confidence in Wall Street, and it led to increased regulation of the securities industry.
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Apollo Global
In 1990, in the aftermath of Drexel's collapse, Antony co-founded Apollo Global Management with three former Drexel colleagues, Leon Black, Joshua Harris and Marc Rowan.
Apollo would eventually grow to have more than $500 billion in assets under management. Today all four co-founders are multi-billionaires. Leon Black owns one of the most-valuable private art collections in the world. Joshua Harris owns the Philadelphia 76ers of the NBA, the New Jersey Devil's of the NHL and the Washington Commanders of the NFL. Marc Rowan became CEO in 2021 after Leon Black stepped aside in the wake of revelations of his connections to Jeffrey Epstein.
Ares Management
In 1997, Antony co-founded Ares Management, LLC, an asset management firm. Today Ares manages more than $300 billion in assets for a wide variety of companies and individuals. Ares has offices in Los Angeles, London, New York, Stockholm, Frankfurt, Paris, Washington D.C., Shanghai, Atlanta, Dallas, Hong Kong, and Chicago. Antony owns 1/3 of Ares Management.
Personal Life
In 1990, Antony married actress Jami Gertz. They have three children together. Their primary home-base is the Los Angeles area where they own two incredibly impressive homes. Their main home is a large estate located within the ultra-exclusive Beverly Hills gated community Beverly Park. Property Records indicate that this home is worth a minimum of $30 million, but it could be worth more than $50 million in the right market. They also own an impressive beach front mansion in Malibu, on one of the most-desirable frontages.
Jami and Tony sit on the boards of multiple non-profit companies, including Cedars-Sinai Medical Center, Campbell Hall Episcopal School, and the Los Angeles County Museum of Art. They are consistently ranked among the most-generous celebrities in the world and the most-generous people in Los Angeles.
Tony's sister Debra is married to Leon Black, Tony's former partner in Apollo Global Management. Leon and Debra are worth $11 billion. They own one of the most-valuable private art collections in the world. Their collection includes one of four original versions of Edvard Munch's The Scream, which they acquired in 2012 for $120 million – a world record at the time.
When Leon and Debra paid $38 million in 2016 for Tom Cruise's Beverly Hills mansion, their real estate agent was Sharyn Gertz. Jami's sister.
(Photo by Charley Gallay/Getty Images for LACMA)
Sports Team Ownership
In 2005 Tony was a member of a group of investors who acquired the Milwaukee Brewers for $223 million. Tony and Jami are minority owners in this team.
On April 22, 2015, it was revealed that Jami and Tony Ressler led a group of investors to acquire the NBA's Atlanta Hawks for $730 million. His fellow investors included NBA legend Grant Hill as well as Marquis Jet founder Jesse Itlzer and his billionaire wife Sara Blakely (founder of Spanx). Some speculated that after the Clippers sold for $2 billion, the Hawks may have fetched an equally extraordinary purchase price. The acquisition was originally believed to be $1 billion, then $850 million, then $800 million. The most current accurate number is $730 million.
In 2012 Tony, Jami and a group of investors made an unsuccessful bid to buy a majority stake in the LA Dodgers.
