Billionaire Mark Walter, set to own controlling stake in Lakers, built fortune in investing

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The billionaire slated to takeover the controlling involvement successful the Los Angeles Lakers has built a vocation starring businesses investing successful everything from sports franchises to artificial intelligence

ByALEX VEIGA AP concern writer

The billionaire slated to instrumentality implicit the controlling involvement in the Los Angeles Lakers has built a vocation starring businesses investing successful everything from sports franchises to artificial intelligence.

Mark Walter is CEO of the planetary concern and advisory institution Guggenheim Partners, which is estimated to person much than $325 cardinal successful assets. He’s besides co-founder and CEO of holding institution TWG Global.

Forbes estimates Walter's nett worthy is $6.1 billion. The work ranked him astatine No. 216 connected its Forbes 400 database past year.

Walter received an undergraduate grade successful concern medication from Creighton University and a instrumentality grade from Northwestern University, but yet chose concern implicit a vocation successful law.

In the mid-1990s, helium co-founded Liberty Hampshire, an concern absorption steadfast successful Chicago. That concern became portion of Guggenheim Partners, which Walter co-founded successful the precocious 1990s.

In summation to Guggenheim, Walter co-founded TWG Global with movie shaper Thomas Tull. The institution holds a portfolio of concern and security assemblage companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance and Delaware Life. It besides includes aerospace and defence exertion institution Shield AI.

Last month, TWG Global announced a concern with Palantir Technologies and Elon Musk’s AI company, xAI, shaper of Grok, aimed astatine processing artificial quality for usage successful the fiscal services industry.

TWG Global besides includes investments successful sports, media and amusement franchises, specified arsenic the controlling involvement successful the Los Angeles Dodgers, Premier League nine Chelsea, the Professional Women’s Hockey League and — done TWG Motorsports — ownership of respective car racing teams including Cadillac Formula 1.

Beyond business, Walter and his wife, Kimbra, person founded oregon contributed to assorted philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond and OneGoal.