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Mario Gabelli Net Worth, Biography & Wiki 2017
Mario Joseph Gabelli was born on the 19th June 1942, in The Bronx, New York City USA, of Italian descent. He is a financial analyst, stock investor, and investment advisor, who is probably best known for being the founder, chairman and CEO of Gabelli Asset Management Company Investors (GAMCO Investors), a brokerage firm. His career has been active since the mid-‘60s.
So, have you ever wondered how rich Mario Gabelli is, as of late 2016? According to authoritative sources, it has been estimated that Gabelli counts his net worth at the impressive amount of $1.5 billion, accumulated through his involvement in the business industry, in particular money management. Thanks to his successful career, Gabelli has been ranked by Forbes magazine as one of the richest men in the USA.
Mario Gabelli Net Worth $1.5 Billion
Mario Gabelli was raised in Bronx by his parents who emigrated from Italy and settled down in New York City. He attended Fordham Preparatory school, from which he matriculated in 1961. His interest in the money management business came at early age, as he bought his first stock when he was only 13 years old. Later, he enrolled on a scholarship at Fordham University, from where he emerged with a BA degree in 1965, graduating summa cum laude, after which he continued his education at Columbia Business School, where he earned his MBA degree. One of his professors at Columbia was Roger Murray, a well-known investing expert and the co-author of the Fifth Edition of “Security Analysis”, a book which is considered the basis of the value investing approach practiced by Gabelli throughout his career – the Graham-Dodd school of security analysis.
Soon after graduation, Gabelli was asked to work as a security analyst for Loeb, Rhoades & Co, responsible for coverage of auto parts conglomerates, farm equipment, and then media and broadcasting somewhat later. Thanks to that, he learn about value investing at Columbia, and created the methodology for rating companies which would later become known as The Gabelli Private Market Value with a Catalyst Methodology, and which added a considerable amount to his net worth.
In 1977, Gabelli founded GAMCO, still working as a dealer and broker. Since then, his company has grown and diversified into the financial services corporation, and very significantly increased his net worth. His reputation took off in the 1980s, mostly due to his insights into media companies. Today, GAMCO manages over $45 billion in assets by using the very same principles they used when Gabelli started the business in 1977.
To speak further of his career, Gabelli became a Chartered Financial Analyst, and is a member and former officer of various premier financial services trade groups and networking forums, including the New York Society of Security Analysts. He is also known as a former commentator on CNN, CNBC, and Bloomberg, as well as in the TV show “Walk Street Week With Louis Rukeyser”. Other than that, Gabelli has written a number of articles for various publications, and all of these interests have increased his net worth by a large margin.
Thanks to his accomplishments in the business industry, Gabelli was given the Lifetime Achievement Award by the New York Society of Security Analysts in 2014.
Regarding his personal life, Mario Gabelli is married to Regina Pitaro. Previously, he was married to Elaine, with whom he has four children. His current residence is in Greenwich, Connecticut. He is also recognized in the media as a huge philanthropist, who established The Gabelli Foundation and has donated over $100 million to various schools and universities, and in 2015 he was honored by the National Italian American Foundation for his generosity.