What is Marc Lasry net worth?

Marc Lasry is a Moroccan-American billionaire hedge fund manager, investor, and philanthropist with an estimated net worth of $2 billion. He is best known as the co-founder and CEO of Avenue Capital Group, a global investment firm specializing in distressed securities. Lasry also gained public recognition as the former co-owner of the Milwaukee Bucks, an NBA team he and Wes Edens purchased in 2014. Beyond business, he is an active philanthropist, supporting educational, medical, and cultural institutions.

Milwaukee Bucks Investment

In 2014, Marc Lasry and Wes Edens led a group to purchase the Milwaukee Bucks for $550 million. The investment proved highly lucrative. In 2023, they sold the team to Cleveland Browns owners Jimmy and Dee Haslam for a staggering $3.5 billion.

Lasry personally held a 25% stake, which meant he walked away with about $875 million—more than six times his return on investment.

Early Life and Education

Marc Lasry was born on September 23, 1959, in Marrakesh, Morocco, to Jewish parents Elise and Moise Lasry. His mother worked as a schoolteacher, while his father was a computer programmer.

In 1967, just before the Six-Day War, the family immigrated to the United States and settled in West Hartford, Connecticut.

Lasry attended Clark University in Massachusetts, earning a B.A. in History in 1981. He later pursued law at New York Law School, graduating with a Juris Doctor in 1984.

Career

While in law school, Lasry worked as a clerk for Edward Ryan, chief bankruptcy judge of the Southern District of New York. After graduating, he practiced in the bankruptcy division of Angel & Frankel law firm, where he gained early experience in distressed debt.

Avenue Capital Group

In 1989, Lasry co-founded Amroc Investments with his sister Sonia, securing $100 million in seed funding from the Robert M. Bass Group. Amroc focused on purchasing trade claims and bank debt from bankrupt or financially distressed companies.

Building on this success, the siblings launched Avenue Capital Group in 1995 with $7 million of their own capital. The firm initially specialized in U.S. distressed securities but quickly expanded into Europe and Asia. Over time, Avenue diversified into real estate investments, hedge funds, and collateralized debt obligations.

By 2006, Morgan Stanley acquired a 15% stake, solidifying Avenue Capital’s position as a major player in global finance.

Other Business Ventures

Lasry’s career also included leadership roles at R.D. Smith and Cowen & Company, where he co-directed the bankruptcy and corporate reorganization group.

In 2010, he briefly took over Trump Entertainment Resorts during its third bankruptcy but stepped down in 2013.

Beyond finance, Lasry dabbled in media, briefly serving as chair of Ozy Media in 2021 during its fraud scandal, and he remains a large shareholder of Amplify Energy.

Philanthropy

Marc Lasry and his wife, Cathy Cohen, are dedicated philanthropists. Together, they have donated millions to Clark University (where they funded a bioscience center) and the University of Pennsylvania.

Lasry has also served as:

• Director of the 92nd Street Y
• Director of the Big Apple Circus
• Trustee of Mount Sinai Hospital

In 2016, he joined the Portfolios with Purpose charity contest, selecting stock portfolios to raise funds for his chosen causes.

After selling his Bucks stake in 2023, Lasry launched the Avenue Sports Fund, which invests in women’s sports and golf ventures, including the Bay Golf Club of the TGL league.

Personal Life

Marc Lasry is married to Cathy Cohen, and the couple has five children. Their son Alex Lasry served as an aide in the Obama White House to senior adviser Valerie Jarrett and ran for the U.S. Senate in 2022. Their daughter Samantha Lasry worked as a staffer for former congressman Rahm Emanuel.

Marc Lasry Net Worth

Marc Lasry net worth is $2 billion.

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