How billionaire Mark Walter, set to own the controlling stake in Lakers, made his fortune
Associated Press
The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence.
Mark Walter is CEO of the global investment and advisory company Guggenheim Partners, which is estimated to have more than $325 billion in assets. He's also co-founder and CEO of holding company TWG Global.
Forbes estimates Walter's net worth is $6.1 billion. The publication ranked him at No. 216 on its Forbes 400 list last year.
Walter received an undergraduate degree in business administration from Creighton University and a law degree from Northwestern University, but ultimately chose business over a career in law.
In the mid-1990s, he co-founded Liberty Hampshire, an investment management firm in Chicago. That business became part of Guggenheim Partners, which Walter co-founded in the late 1990s.
In addition to Guggenheim, Walter co-founded TWG Global with film producer Thomas Tull. The company holds a portfolio of finance and insurance sector companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance and Delaware Life. It also includes aerospace and defense technology company Shield AI.
Last month, TWG Global announced a partnership with Palantir Technologies and Elon Musk's AI company, xAI, maker of Grok, aimed at developing artificial intelligence for use in the financial services industry.
TWG Global also includes investments in sports, media and entertainment franchises, such as the controlling interest in the Los Angeles Dodgers, Premier League club Chelsea, the Professional Women's Hockey League and — through TWG Motorsports — ownership of several auto racing teams including Cadillac Formula 1.
Beyond business, Walter and his wife, Kimbra, have founded or contributed to various philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond and OneGoal.
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