Marc Lasry (born September 23, 1959) is a Moroccan American billionaire businessman and private equity manager. He is the co-founder and chief executive officer (CEO) of Avenue Capital Group. From 2014 to 2023, he was a co-owner of the NBA’s Milwaukee Bucks basketball team.
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Table of Contents
Marc Lasry Net Worth
Marc Lasry has a net worth of $2 billion. He is a major Democratic Party donor, though he once said a Democratic sweep in an election would be “bad for stocks.” He supported Kamala Harris in the 2020 Democratic presidential primary, stating he preferred “somebody who’s in the middle” as the party’s candidate.
Lasry served on the board of the 92nd Street Y. In 2019, he played on the “Away” roster during the NBA All-Star Celebrity Game at Bojangles Coliseum in Charlotte, North Carolina.
Early Life
Lasry was born into a Jewish family in Marrakesh, Morocco. At age seven, his family immigrated to the U.S., just before the Six Day War in 1967. His father, Moise, was a computer programmer, and his mother, Elise, was a schoolteacher.
Lasry grew up in West Hartford, Connecticut, earned a B.A. in history from Clark University in 1981, and a J.D. from New York Law School in 1984. While in law school, he clerked for Chief Bankruptcy Judge Edward Ryan of the Southern District of New York.
Career
After graduating from law school, Lasry joined the bankruptcy branch of the law firm Angel & Frankel. In 1989, he and his sister, Sonia Gardner, an attorney, co-founded Amroc Investments, followed by Avenue Capital Group in 1995. A year later, Lasry became Director of the Private Debt Department at R.D. Smith (now Smith Vasillou Management), where he began working with trade claims.
He later served as co-director of the Bankruptcy and Corporate Reorganization Department at Cowen & Company, where he recruited Sonia to assist in the trade claims division. Lasry then joined the Robert M. Bass Group, focusing on distressed security investments.
Personal life
Lasry is married to Cathy Cohen and they have five children. The family practices traditions of the Moroccan Jewish community. Their son, Alex, worked for Valerie Jarrett at the White House and ran for the U.S. Senate in 2022. Their daughter, Samantha, was a staffer for Congressman Rahm Emanuel.
Lasry is a member of Kappa Beta Phi and a major Democratic Party donor, though he once called a Democratic sweep “bad for stocks.” He backed Kamala Harris in the 2020 Democratic primary and served on the board of the 92nd Street Y. In 2019, he played in the NBA All-Star Celebrity Game in Charlotte, North Carolina.
Who is the Owner of the Milwaukee Bucks in Morocco?
Marc Lasry, along with Wesley Edens, purchased the Milwaukee Bucks in 2014, bringing his expertise and passion for basketball to the forefront of NBA ownership.
Conclusion
Marc Lasry’s blend of financial acumen and love for basketball has made him a notable figure in both fields. His journey from Morocco to the heights of American finance and sports is a compelling story of success, ambition, and strategic investment.
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FAQs about Marc Lasry
- How did Marc Lasry make his fortune?
- What is Marc Lasry’s connection to the NBA?
- What is Avenue Capital Group?
- How much of the Bucks did Lasry sell?
- What are some of Marc Lasry’s other ventures?
