Howard Marks

$2.21 B

Ranked #1837 in World

About Howard Marks

Renowned investor and author Howard Marks, with a $2.2 billion net worth in 2022 as per Forbes, co-chairs Oaktree Capital Management, known for priority in distressed securities. Marks' investment memos reflect a keen approach to risk management, data analysis, and market cycles, advocating for consistent performance rather than high stakes gambles. A Wharton and Booth School alumnus, his strategies focusing on timing and risk tolerance have yielded 19% annual returns. Oaktree, established in 1995, excelled particularly during the 2007-08 crisis. Marks, also a prominent art and education philanthropist, maintains active roles in several institutions while supporting Democratic views and critiquing policies from diverse political spectra.

Born

April 23, 1946 in New York City, U.S.

Age

79 years

Source Of Wealth

Private Equity

Industries

Finance & Investments

Citizenship

United States

Residence

New York, New York

Education

Bachelor of Arts/Science, University of Pennsylvania, The Wharton School

Spouse

Nancy Freeman Marks

Children

Andrew Marks (with Nancy), Jane Hait (step-child)

Howard Marks was born in 1946 and raised in Queens, New York. Ethnically Jewish, he was brought up as a Christian Scientist. Marks demonstrated academic excellence from an early age, graduating cum laude from the Wharton School of the University of Pennsylvania in 1967 with a major in finance and a minor in Japanese Studies. His educational journey continued at the University of Chicago Booth School of Business, where he earned an MBA in Accounting and Marketing in 1969, receiving the prestigious George Hay Brown Prize.

Howard Marks: Family

Marks has been married twice. His first marriage ended in divorce. He is currently married to Nancy Marks, with whom he has one biological son. Nancy brought a step-daughter from her previous marriage into the family.

Howard Marks: Career Highlights

Marks' career in the financial industry spans over five decades. He began at Citicorp in 1969 as an equity research analyst, eventually rising to the position of Director of Research. From 1978 to 1985, he served as a Vice President and senior portfolio manager, overseeing convertible and high-yield debt. In 1980, he relocated to Los Angeles to manage a high-yield fund for Citibank.

In 1985, Marks joined TCW Group, where he led teams responsible for investments in high-yield debt and convertible securities. He made a significant impact by organizing one of the first distressed debt funds from a major financial institution alongside Bruce Karsh in 1988.

Marks' entrepreneurial spirit led him to co-found Oaktree Capital Management with Karsh and others in 1995. Under their leadership, Oaktree experienced rapid growth, focusing on high-yield debt, distressed debt, and private equity.

Howard Marks: Companies

Marks has held key positions at several notable companies throughout his career. He worked at Citicorp from 1969 to 1985, TCW Group from 1985 to 1995, and co-founded Oaktree Capital Management in 1995, where he currently serves as co-chairman.

Howard Marks: Major Achievements

Marks' contributions to the investment world are widely recognized.

He is renowned for his insightful investment essays, known as "memos," which provide detailed explanations of his strategies and market insights. These memos have gained a loyal following among investors and financial professionals.

Marks' investment philosophy emphasizes risk management and understanding personal risk tolerance. He believes in inferring consequences from company data, managing investment psychology, and assessing market cycles. His aim is to achieve average returns during bull markets while minimizing losses during bear markets, employing market timing strategies to ensure cash availability during downturns.

Under Marks' leadership, the funds he has managed have consistently produced impressive returns. Notably, the funds led by Marks have generated long-term returns net of fees of 19% per year.

Howard Marks: Awards & Achievements

Marks' accomplishments have been recognized through numerous awards and accolades. He is a CFA charterholder and has been a member of the New York Society of Security Analysts. He chairs the Investment Committees of the Metropolitan Museum of Art and the Royal Drawing School in London.

In addition, Marks has been honored by his alma mater, the University of Pennsylvania, where he served as Chairman of the Trustees' Investment Board from 2000 to 2010. He has also received the George Hay Brown Prize and established the Howard S. Marks Terms Scholarship at the university.

Howard Marks: Personal Life & Legacy

Marks is known for his philanthropic endeavors. He has made significant contributions to educational institutions, including the University of Pennsylvania and the University of California, Los Angeles. His gifts have supported scholarships, writing centers, and faculty chairs in women's health research.

Marks' political views align with the Democratic Party. He has been critical of certain economic policies and has made substantial contributions to Democratic candidates and causes.

Howard Marks: Trivia

Marks is the author of several books that share his investment wisdom. His notable works include "The Most Important Thing: Uncommon Sense for the Thoughtful Investor" (2011), "The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor" (2012), and "Mastering the Market Cycle: Getting the Odds on Your Side" (2018).

Marks owns properties in various locations, including East Hampton, New York, Park Avenue in New York City, Malibu, California, Beverly Hills, California, and Amagansett, New York.

Wealth History

Timeline

1946

Howard Marks is born in Queens, New York.

1967

Marks graduates cum laude from the Wharton School of the University of Pennsylvania with a major in finance and a minor in Japanese Studies.

1969

Marks earns an MBA in Accounting and Marketing from the University of Chicago Booth School of Business, winning the George Hay Brown Prize.

1969

Marks begins working at Citicorp as an equity research analyst.

1975

Marks becomes a CFA charterholder.

1978

Marks is promoted to Vice President and senior portfolio manager overseeing convertible and high-yield debt at Citicorp.

1980

Marks moves to Los Angeles to manage a high-yield fund for Citibank.

1985

Marks joins TCW Group, leading groups responsible for investments in high-yield debt and convertible securities.

1988

Marks organizes one of the first distressed debt funds from a major financial institution with Bruce Karsh.

1992

Marks creates the Howard S. Marks Terms Scholarship at the University of Pennsylvania.

1995

Marks leaves TCW with Karsh and others to found Oaktree Capital Management.

2000

Marks chairs the Trustees' Investment Board at the University of Pennsylvania.

2007-2008

Oaktree raises $10.9 billion during the financial crisis, the largest distressed debt fund in history.

2009

Marks endows the Marks Family Writing Center at the University of Pennsylvania.

2010

Marks steps down as chair of the Trustees' Investment Board at the University of Pennsylvania.

2011

Marks publishes his first book, "The Most Important Thing: Uncommon Sense for the Thoughtful Investor".

2012

Marks publishes his second book, "The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor".

2012

Oaktree becomes a public company via an initial public offering on the New York Stock Exchange.

2016

Marks contributes over $200,000 to the Hillary Victory Fund.

2018

Marks publishes his third book, "Mastering the Market Cycle: Getting the Odds on Your Side".

2019

Brookfield Asset Management acquires 62% of Oaktree, with Marks and other Oaktree members retaining 38% ownership and full control of day-to-day operations.

2023

Marks makes a $5 million gift to the University of California, Los Angeles to endow a faculty chair in women's health research.

Howard Marks : FAQs

What is Howard Marks's current net worth?

Howard Marks's current net worth is $2.21 billion.

What is Howard Marks's current global rank among billionaires?

Howard Marks holds the 1837th position globally among billionaires.

What is Howard Marks's current ranking within the United States?

Howard Marks holds the 610th position in United States.

What was the change in Howard Marks's net worth compared to the previous year?

Howard Marks's net worth increased by 17.87 million dollars compared to the previous year 2025, when his net worth was 2.20 billion dollars.

What is the recent change in Howard Marks's net worth?

Howard Marks's net worth increased by 0.97 million dollars recently, a 0.04% increase, with his net worth standing at 2.21 billion dollars.

What are Howard Marks's main sources of wealth?

Howard Marks's main source of income comes from Private Equity.

In which industry does Howard Marks primarily operate?

Howard Marks is primarily involved in the Finance & Investments industry.

What is Howard Marks educational background?

Howard Marks holds a Bachelor of Arts/Science from the University of Pennsylvania from The Wharton School.

How old is Howard Marks?

Howard Marks is 79 years old.

How many children does Howard Marks have?

Howard Marks has 2 children.

Who is Howard Marks and what is his role at Oaktree Capital Management?

Howard Marks is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide, known for his investment expertise and strategic insights.

What investment philosophy does Howard Marks advocate in his writings?

Howard Marks is renowned for his investment essays where he underlines the importance of risk management, understanding personal risk tolerance, and focusing on long-term average returns with minimal losses during volatile market cycles.

How has Oaktree Capital Management performed under Howard Marks' leadership?

Under Howard Marks' leadership, funds at Oaktree Capital Management have historically yielded high returns, with long-term performance net of fees averaging 19% per year.

What are some of Howard Marks' notable contributions outside of investing?

Outside of investing, Howard Marks has made significant philanthropic contributions, including establishing scholarships and donating to health research, and served in leadership roles at academic and cultural organizations like the University of Pennsylvania and the Metropolitan Museum of Art.