What is Bruce Karsh's Net Worth?
Bruce Karsh is an American lawyer and investor who has a net worth of $2.2 billion. He earned his fortune as a co-founder of financial behemoth Oaktree Capital Management.
He was born on October 10, 1955 in the United States. Karsh ear ed his Bachelor's degree from Duke University in 1977, graduating summa cum laude. Next, he went on to obtain his J.D. from the University Of Virginia School Of Law, where he earned the academic award Order of the Coif. After he made a short stint at the University of Virginia as notes editor for the Virginia Law Review, he officially started his law career as an appellate clerk to Supreme Court of the United States justice Anthony M. Kennedy. Subsequently, he served as assistant attorney at the law firm O'Melveny & Myers and a personal assistant to billionaire Eli Broad. At the time Broad's insurance company was a client of TCW Group. In 1987 Karsh was hired by Howard Marks to manage TCW's distressed debt division. He eventually rose to the position of Managing Director of TCW and its affiliate TCW Asset Management Company.
In 1995, Bruce, Howard and several other TCW executives left to establish their own asset management company, Oaktree Capital Management. After launching, Bruce became a portfolio manager for the firm's distressed debt funds and the head of the Distressed Debt Team. After the company was taken public in April 2012, Karsh and Marks sold around $90 million worth of shares in a secondary offering in May. However, they still own 13% each of the firm, which has around $76 billion assets under management.
Bruce is a minority owner of the NBA's Golden State Warriors.
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