Jeffrey Edward Gundlach Net Worth in 2020 and Journey To Success
Jeffrey Edward Gundlach is an American Investor and business person. He is the founder of Double Line Capital LP which is an investment firm. He has been the Head of the TCW Total Return Bond Fund before this.
Early and Personal Life:
Jeffrey was born on 30th October 1959 in Amherst, New York. His father Arthur E. Gundlach worked as a chemist and his mother Carol Gundlach was a homemaker.
He graduated as the summa cum laude in Math & Philosophy in 1981 from Dartmouth College after which he attended Yale University for pursuing his degree PhD. in theoretical Mathematics but eventually he dropped out. He was married to Nancy Draper who was a bassist in his very own band “Radical Flat” (initially called “The Greens”), who filed for a divorce after 20 years of marriage in 2010.
It is said he is an avid art collector and owns great works by artists such as Warhol, Mondrian, and many more. In 2012, a Home burglary took place where pieces of arts, expensive designer watches, cash, and his red Porsche was stolen. After labeling a reward of 1 million, the artworks were discovered and cops arrested those who were the suspects for the theft.
Gundlach was the Head of $9.3 billion TCW, where he finished as top 2% of all funds invested for 10 years after which in 2009, he was fired from TCW. He was sued by TCW for stealing confidential data, lying to the clients, and keeping drugs, pornographic materials in his office. They said that he was an asset to the organization and an award-winning fund manager. Butt he had broken the contract by giving out misappropriate trade secrets among many other civil charges. Drugs and Pornographic materials found in his office also violated the firm’s rules and regulations.
Currently, he is working with Double Line Capital and he is the co-founder of this Mutual Funds Company managing more than $140 billion in assets. In February 2011 cover story, Barron’s tagged him as the “King of Bonds”. In an interview with CNBC on 9th March 2011, he said, “Munis are the New Subprime” and that “You’ve got a history of low defaults, which is comforting. But that kind of sounds like what subprime sounded back in 2006.”
He is known for his bold calls and he predicted the housing crash that happened in 2007. In 2011, he liquidated around 55% of his personal holdings in Municipal Bonds. Although the decline did not occur on the day he predicted but happened around the end of 2011. He has been listed in the 50 Most Influential List by Bloomberg. He was also in 69th position in the list of most powerful people of 2014.
His primary income is basically from his job and investments. He was included in the Forbes 400 in 2019 and Billionaires of 2020 as well. His net worth is estimated to be somewhere around $1.6 billion. In 2019 it was about $1.4 billion. There is not much information available about the cars he owns or the cost of his house.