The American entrepreneur and investor, Marc Gabelli, often makes headlines for his association with the Gabelli Group. The article informs readers about Marc Gabelli’s net worth and the several factors that contribute to it. It also states Marc Gabelli’s career and lesser-known facts.
Marc Joseph Gabelli is an American entrepreneur and investor. He is known for being the son of Mario Gabelli. Currently, Marc Gabelli serves as the Chairman of the Board of Directors and the Chairman of the National Committee of the Gabelli Group. Besides his illustrious career in entrepreneurship and investment, Marc Joseph Gabelli is known for owning an impressive wealth portfolio. This article details everything about Marc Joseph Gabelli’s net worth and the several factors that contributed to it.
Who is Marc Gabelli?
Marc Gabelli was born in April 1968 (age 56 years; as of 2024) to a well-doing family in New York, United States. His father, Mario Joseph Gabelli, is an American stock investor, investment advisor, and financial analyst. His mother, Elaine Gabelli, is a longtime Catholic elementary school teacher of the EMG Madonna Foundation. Gabelli has three siblings named Mario Jr., Matthew, and Melissa. Before 1996, Marc’s father Mario divorced his mother and started living with his second wife, Regina Pitaro. Gabelli’s stepmother, Regina Gabelli, is an influential financial professional, who graduated from Fordham University.
Education
For his high schooling, Marc Gabelli attended Fordham Preparatory School. Following his graduation, he enrolled himself at Boston College, where he obtained a Bachelor’s degree in Economics. After graduating from Boston, he attended Harvard University to pursue a Master’s degree in government. He has also pursued a Master of Business Administration at the University of Massachusetts.
What is the net worth of Marc Gabelli?
As of 2024, Marc Gabelli has an estimated net worth of $2.5 Million. However, other media sources suggest that Gabelli has an updated net worth of $12.5 million. Meanwhile, the entrepreneur’s investment majorly contributes to his net worth.
Factors Contributing to the Net Worth of Marc Gabelli
Stocks
Marc Gabelli currently serves as the director of the Associated Capital Group, Inc. Sources claim that Gabelli owns more than 2842 units of the Associated Capital Group, Inc. stock worth over $2,133,145.
Salary
Serving as the associate director of the Associate Capital Group, Inc., the salary of Gabelli is $85,000. Currently, the company has 11 executives at Associate Capital Inc. and Mario Gabelli has the highest compensation of $5, 719, 610.
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Career
- During his formal education, he ventured into businesses by serving as the Soft Commodity, Trading, and Logistics at VanEkris & Stuett.
- In 1990, he joined the Lehman Brothers wherein he served as the Equity Arbitrage. He worked there for four years and resigned in 1994.
- In 1994, he joined Gabelli Securities International Limited as the Chief Executive Officer.
- Besides the Gabelli Securities International Limited, Marc Gabelli is serving as a president at the Gabelli group.
- In 2004, he became the chairman of MtronPTI; it is a destination that offers a wide range of frequency control and spectrum control solutions.
- In the same year, he was appointed as the chairman and CEO of the LGL Group which is based in Florida, United States.
- In 2019, Marc Gabelli was appointed as the chairman of Associated Capital Group.Inc.
Controversy: Sued For Misleading Investors
Reportedly, in 2011, a trial proceeded against Marc Gabelli for misleading the investors with a Gabelli Mutual Fund which suffered several shareholders. While Marc runs a plethora of funds in his father’s company, he was alleged to committed fraud through the Gabelli Growth fund.
According to the Business Investor, the SEC law read,
“The complaint alleges that from 1999 until 2002, Gabelli and Alpert permitted Head Start to engage in time zone arbitrage (which defendants referred to as “scalping”) that took advantage of stale pricing opportunities in (GGGF. Id. 17, 36, 42.) Initially, the amount of such scalping was limited, but on April 7, 2000, Gabelli allegedly agreed to permit Headstart to increase its market timing capacity from $7 million to $20 million, in exchange for a $1 million investment by Headstart in a hedge fund that Gabelli managed”.
Do You Know These Lesser Known Facts About Marc Gabelli?
- Besides being an investor and entrepreneur, Marc Gabelli is a philanthropist. Additionally, he is associated with The Sutton Trust, an NGO fighting social mobility.
- According to an article by Forbes, Marc Gabelli had an estimated net worth of $400 million in 2000; the news article was updated in 2013.
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