Marc Lasry is a prominent figure in the world of finance and sports. As the co-founder and CEO of Avenue Capital Group, he has amassed a significant fortune through his successful career as a hedge fund manager.
In this article, Covemarkets will explore Marc Lasry net worth and salary in 2023, delve into the reasons behind his fame, provide an overview of his early life, career, and personal life, and much more.
|September 23, 1960
|Sonia Gardner (sister)
|B.A. in History from Clark University, J.D. from New York Law School
|Source of Wealth
|Avenue Capital Group, Darling Ingredients Inc stock
What is Marc Lasry Net Worth and Salary in 2023?
As of 2023, Marc Lasry’s estimated net worth is at least 2.1 billion dollars. He is the 10% owner of Darling Ingredients Inc and owns approximately 5,473,730 shares of Darling Ingredients Inc (DAR) stock, which are worth over $376 million.
Why is Marc Lasry Famous?
Marc Lasry gained fame as an American billionaire businessman and private equity manager. He co-founded and serves as the CEO of Avenue Capital Group, a renowned investment firm. Moreover, Lasry was a co-owner of the NBA’s Milwaukee Bucks basketball team from 2014 to 2023.
Marc Lasry Overview
Marc Lasry was born on September 23, 1959 in Marrakech, Morocco, to a family of Moroccan Jews. At the age of seven, his family immigrated to the United States, settling in West Hartford, Connecticut. Despite initially not speaking English, Lasry excelled academically and went on to attend Clark University, where he obtained a B.A. in history in 1981.
He later earned his J.D. from New York Law School in 1984, during which time he worked as a clerk for the Chief Bankruptcy Judge of the Southern District of New York, Edward Ryan.
Career and Awards
Marc Lasry is a renowned figure in the world of finance and sports. He is an American billionaire businessman and private equity manager.
He co-founded Avenue Capital Group with his sister Sonia Gardner, an attorney, in 1995. The firm, which started with $7 million in funding from friends and family, now manages about $10 billion in assets and focuses on distressed and undervalued securities.
Lasry’s career began after graduating from law school when he took a position in the bankruptcy branch of the law firm Angel & Frankel.
He then founded Amroc Investments in 1989 before establishing Avenue Capital Group. His expertise lies in identifying and capitalizing on distressed and undervalued debt and equity opportunities in the U.S., Europe, and Asia.
In the sports arena, Lasry was a co-owner of the NBA’s Milwaukee Bucks basketball team from 2014 to 2023. However, in 2023, he entered an agreement to sell his 25% stake of the Bucks to Dee and Jimmy Haslam. The NBA Board of Governors approved the sale on April 14, 2023.
Despite this, Lasry remains interested in sports investments, particularly in upstart sports leagues like pickleball, which he believes may offer a higher rate of return to investors than NBA teams.
Lasry is also known for his philanthropic efforts. In 2004, he and his wife contributed support to the University of Pennsylvania and co-chaired the Penn Parent Leadership Committee. They donated $5 million to Clark University in 2005 for the construction of the Cathy ’83 and Marc ’81 Lasry Center for Bioscience.
Lasry has served as a director of the 92nd Street Y and the Big Apple Circus and was a trustee of the Mount Sinai Hospital in Manhattan.
A major Democratic Party donor, Lasry backed Kamala Harris in the 2020 Democratic presidential primary. He has stated that he would like to have somebody who’s in the middle as the party’s candidate.
In recent news, Lasry has been involved in the world of entertainment. As of August 11, 2023, he is associated with ChaiFlicks, the world’s leading streaming platform for Jewish and Israeli storytelling. The platform announced new award-winning films and TV series starting in August 2023.
Marc Lasry is married to Cathy Cohen, and they have five children together. One of their children, Alexander, worked for Valerie Jarrett, a former White House senior adviser.
Lasry is also known for his philanthropic endeavors, having donated millions to institutions such as the University of Pennsylvania and Clark University. Additionally, he is a major donor to the Democratic Party.
Social Media Accounts
As of now, there is no information available about Marc Lasry’s social media accounts.
FAQs about Marc Lasry
How did Marc Lasry become a billionaire?
Marc Lasry’s wealth primarily comes from his successful investments and career in finance. Through Avenue Capital Group, he has made profitable investments in distressed debt, allowing him to accumulate a substantial fortune.
What is Marc Lasry’s investment strategy?
Lasry’s investment strategy focuses on distressed debt. He seeks out undervalued assets and distressed companies, choosing to invest when there is potential for a substantial turnaround and profit.
Does Marc Lasry have any philanthropic endeavors?
Yes, Marc Lasry is actively involved in philanthropy. Alongside his wife, he has supported various charitable causes, including education, healthcare, and poverty alleviation.
When did Marc Lasry become the co-owner of the Milwaukee Bucks?
Marc Lasry became a co-owner of the Milwaukee Bucks in 2014.
What other philanthropic activities is Marc Lasry involved in?
Marc Lasry has made significant donations to various colleges and is a major donor to the Democratic Party.
Marc Lasry’s journey from an immigrant child to a billionaire hedge fund manager and NBA team owner is truly remarkable. With his impressive net worth and successful career, he has left an indelible mark on both the financial and sports industries. Through his philanthropy and business ventures, Lasry continues to make a significant impact on society.
As he embarks on new endeavors, it will be fascinating to see what the future holds for this influential figure. Thank you for reading.
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