Mario Gabelli has an estimated net worth of
$1.5 Billion
Mario Gabelli: A Brief Biography
Mario Joseph Gabelli was born on the 19th of June, 1942, in The Bronx, New York City USA, of Italian descent. He is a financial analyst, stock investor, and investment advisor, known for being the founder, chairman, and CEO of Gabelli Asset Management Company Investors (GAMCO Investors), a brokerage firm. Gabelli’s career has been active since the mid-‘60s.
As of late 2016, Mario Gabelli’s net worth has been estimated at an impressive $1.5 billion, accumulated through his involvement in the business industry, particularly in money management. Forbes magazine has ranked Gabelli as one of the richest men in the USA.
Mario Gabelli’s Net Worth: $1.5 Billion
Mario Gabelli was raised in the Bronx by his parents, who emigrated from Italy and settled in New York City. His interest in the money management business sparked at an early age, and he bought his first stock at the age of 13. He attended Fordham Preparatory School, matriculating in 1961, and later earned a BA degree from Fordham University, graduating summa cum laude. He furthered his education at Columbia Business School, earning his MBA degree. At Columbia, he learned about value investing from well-known investing expert Roger Murray, which greatly influenced his career.
After graduation, Gabelli worked as a security analyst for Loeb, Rhoades & Co, where he was responsible for coverage of various industries, later developing the methodology for rating companies known as The Gabelli Private Market Value with a Catalyst Methodology, contributing significantly to his net worth.
In 1977, Gabelli founded GAMCO, which started as a dealer and broker but later grew and diversified into a financial services corporation, substantially increasing his net worth. His insights into media companies in the 1980s elevated his reputation. Today, GAMCO manages over $45 billion in assets using the same principles Gabelli incorporated at the business’s inception in 1977.
Gabelli became a Chartered Financial Analyst and is a member and former officer of various premier trade groups in the financial services industry. He is also known for his media appearances and writings, significantly contributing to his net worth.
In 2014, Gabelli was honored with the Lifetime Achievement Award by the New York Society of Security Analysts due to his business accomplishments.
Aside from his career, Mario Gabelli is known for his philanthropy. He established The Gabelli Foundation and has donated over $100 million to various schools and universities. In 2015, he was honored by the National Italian American Foundation for his generosity.
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