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Angelo Mozilo Net Worth

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Angelo Mozilo's Net Worth as of 2024
$600 Million

Angelo R. Mozilo was born on 1938, in The Bronx, New York City USA, and is a businessman, best known to be the former chief executive officer and chairman of the board of Countrywide Financial, a position he held until 2008, but all of his endeavors have helped put his net worth to where it is today.

How rich is Angelo Mozilo? As of early-2017, sources estimate a net worth that is over $600 million, mostly earned through his time with Countrywide Financial; the way he earned his money has been surrounded by controversy. He’s also been known for other issues as well as his exposure to the media. All of these ensured the position of his wealth.

Angelo Mozilo Net Worth $600 million

Angelo attended Fordham University and would graduate in 1960. Nine years later he would form the mortgage lending company Countrywide Credit Industries alongside former mentor David S. Loeb. The company started in New York and would later move to Pasadena, California, and then to Calabasas, California. The duo would then found Countrywide Mortgage Investment, which would later become IndyMac Bank, which became one of the pioneers of the non-bank mortgage industry. In 1984, when Countrywide became part of the New York Stock Exchange, Mozilo would sell $406 million worth of its stock which would help increase his net worth significantly. In the late 1980s, the popularity of subprime loans started to rise, though he didn’t want any part of it. However, eventually they would begin to lose out to their newer competitors, leading them to go ahead and do subprime loans as well. The industry would then undergo the subprime mortgage crisis who many believe led to the financial downfall of the United States in 2008. Angelo would become the forefront of that crisis, and became a symbol for it.

In 2001, Mozilo received compensation during the United States housing bubble of around $470 million, increasing his net worth even further, and which apart from salary and bonuses, included payment of equity memberships and annual country club dues. This led to him testifying to the United States House Committee on Oversight and Government Reform during the mortgage crisis in which he defended his moves as he stated that reports were “grossly exaggerated”. Later it was discovered that he sold millions of dollars of his own stock, which led to him being charged with insider trading, as well as securities fraud by the US Securities and Exchange Commission (SEC). In 2010, he formulated an agreement with the SEC to pay $67.5 million in fines, plus a lifetime ban from serving as an officer or director of any public company. It is the largest settlement by an individual connected to the 2008 housing collapse.

Other politicians and executives were pulled in to the scandal when it was discovered that several were receiving good mortgage financing from Countrywide because they were “Friends of Angelo”.

Many documentaries and shows have been released about Mozilo, including “Inside Job”. He’s also been featured in Time Magazine and on CNN as one of the reasons for the 2008 financial collapse.

For his personal life, it is known that Angelo is married to Phyllis and that they have five children. He currently resides in Santa Barbara, California.

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications. At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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Businesspersons

Charles Saatchi Net Worth

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Charles Saatchi is one of the richest and best known businessmen in the world and one of many millionaires. Saatchi’s overall net worth has been stated to be $100 million for 2014. Charles Saatchi was born in Baghdad, Iraq, but later had to move together with his family to London, UK to avoid the persecution of Jews in his home country. He was the second son in the family of four kids. As a teenager Charles was really interested in American pop culture and studied at the London College of Communication. After graduation he began his professional career as a copywriter working for “Benton & Bowles” and later started to work in tandem with an art director, Ross Cramer, and together they formed their own company called “CramerSaatchi”.

Charles Saatchi Net Worth $100 Million

They were successful and took-on employees John Hegarty and Heremy Sinclair, but true success came to Charles later. In 1970 Charles Saatchi started his business together with brother Maurice: they established “Saatchi & Saatchi” agency which had become the largest advertising agency in the world by the mid-80’s with just a huge number of high-profile clients like UK Prime Minister Margaret Thatcher and British Airways. However, Charles and Maurice left the agency and together founded another one called “M&C Saatchi”. They took many of their important clients with them, and one of these was British Airways. Nowadays, thanks to his prosperous business, Charles Saatchi has a net worth of $100 million dollars.

To the rest of the world Saatchi is also known as one of the most famous modern art collectors. He purchased his first art work in 1969 –  by Sol LeWitt,  a minimalist from New York. His passion for paintings only grew, and in 2009 he even published the book “My Name Is Charles Saatchi And I Am An Artoholic” wherein the author answered many questions and even gave some advice about collectibles. But the book didn’t become as popular as Saatchi expected, so the author asked his personal assistant to buy a huge number of books to help his work hit some positions in bestseller charts. Later in 2009 Saatchi appeared on the BBC program “School of Saatchi” and gave many young artists a perfect opportunity to show their talent and showcase artworks: some artists even painted portraits of Saatchi himself. In July 2010 Charles Saatchi donated his Saatchi Gallery to the British public together with 200 works of art.

Saatchi’s personal life has never been very public, but he married his first wife in 1973. He had met Doris Lockhart Dibley in 1965 while working for “Benton & Bowes”. The couple lived together for the six years before marrying, but divorced in 1990.  Saatchi’s second wife was Kay Hartenstein to whom he was married from 1990-2001, and they even had a daughter together. Then Saatchi married for the third time in 2003, to English journalist, food writer, gourmet and television personality Nigella Lawson, but after public disagreements, were divorced 2013.

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Mikey Teutul Net Worth

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Michael Joseph was born 26 November 1978, in Montgomery, New York State USA, and widely known as Mikey Teutul, is a reality television personality, the youngest son of Orange County Choppers founder Paul Teutul, Sr. Mikey began his working life at 14, in the family business.

So just how rich is Mikey Teutul, as of late 2017? Authoritative sources estimate that Mikey has a net worth of over $3 million dollars, largely earned  by working at his father’s and older brother Paul Jr,’s company Orange County Choppers (OCC), and Orange County Iron Works, and through his TV appearances.

Mikey Teutul Net Worth $3 Million

Little is known of Mikey’s early life or education – it seems to have always revolved around the family business. Helping out his family in his teens, theoretically he worked as Assistant General Manager. but his main duties were to answer ‘phones, and clear-up and take out the trash. He was on rare occasions given the chance to build bikes, until he was competent to build his own. He also attended events for promoting OCC.

In 2002, the family was invited to take part in a reality show, Discovery Channel’s “American Chopper”, and subsequently “American Chopper: Senior vs. Junior”, in the course of which the youngest son was thrown out of the business – the middle son is Daniel, and younger sister Cristin. The reason for Mikey’s exclusion was  that Mikey tried to be a mediator between his father and his brother, but his father seemed to be offended that his younger son did not take his side, and so threw him out of the business. During the filming of the show, Mikey was somethoing of a comedy relief to his father’s workers, and that comedy streak helped gain him popularity in TV shows. Mikey then joined his brother’s post-OCC venture, -Paul Jr  Designs – along with most of their father’s employees; obviously the work atmosphere with Paul Teutul, Sr. was not a particularly happy one. Mikey’s eldest brother Paul  Jr. was the former chief fabricator of OCC.

So actually the main source of Mikey Teutul’s wealth is not his father’s business, but the shows he eventually took part in. These have included ‘The Late Show with David Letterman”, “Late Night with Conan O’Brien”, and also “The Tonight Show” with Jay Leno. The shows became very popular and Mikey’s appearances earned him a significant amount of money. To say the least, the family drama did not go without consequences – according to rumours, Mikey Teutul was suffering from an addiction problem, and consequently admitted himself to rehab, and managed to overcome the bad habits which were apparently hindering his progress in life, obviously including business.

In his life away from the businesses already referred to and the limelight of TV, Michael loves to paint, and is apparently respected for his productions, as he opened “The Wolfgang Gallery” gallery in Montgomery, New York, where he has sold or auctioned his paintings, adding somewhat to is net worth, although rumours suggest that the gallery may now be closed. Most recently, Mikey is now trying to enter the market under the moniker LLC FarQueue Products with his line of gourmet pasta sauces. Good luck, Mikey!

In his less-than-private personal life, Mikey is apparently still single – there aren’t even any rumours of romantic liaisons.

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