Who is Michael Arougheti? Wiki, Age, Net Worth, Wife, Family, Education, Biography and more
Michael Arougheti is a billionaire businessman and investor who is the co-founder, CEO and president of Ares Management, one of the largest and most successful alternative investment firms in the world. Arougheti has been instrumental in building and expanding Ares’ private credit business, which provides loans to middle-market companies in the U.S. and Europe. He is also a philanthropist who supports various causes, such as education, economic empowerment, and homelessness.
Michael Arougheti Wiki/Bio
| Name | Michael J. Arougheti |
|---|---|
| Birth date | October 1972 |
| Birth place | United States |
| Residence | Nyack, New York, United States |
| Nationality | American |
| Ethnicity | White |
| Religion | Not known |
| Education | Bachelor of Arts in Ethics, Politics and Economics from Yale University |
| Occupation | Co-founder, CEO, president and director of Ares Management Corporation; Co-chairman of Ares Capital Corporation and Ares Acquisitions Corporation II; Director of Ares Commercial Real Estate Corporation |
| Spouse | Nelly Bly-Arougheti |
| Children | Three |
| Links | Linkedin- @michael-arougheti Homepage- Newsunzip |
Net Worth and Stock Holdings
According to Forbes, Arougheti has a net worth of $1.8 billion as of January 2024, making him one of the richest people in the world. His wealth is mainly derived from his stake in Ares Management, which he owns through various entities and trusts. He also owns over 24,386 units of Ares Management Corp stock worth over $4.4 million, as well as shares of other companies, such as Ares Capital Corporation and Ares Commercial Real Estate Corporation.
Arougheti has been actively trading his stock over the years, making over 64 transactions since 2005. The most recent one was on November 15, 2023, when he sold 150,000 units of ARES stock worth over $15.7 million. He has also donated some of his shares to charitable causes, such as Operation HOPE and the Ares Charitable Foundation.
Early Life, Birthday, and Education
Michael Arougheti was born in 1972 (age: 51 years, as of 2023) and grew up in Nyack, New York. He attended Yale University, where he majored in Ethics, Politics and Economics. He graduated cum laude in 1994 and started his career in finance at Kidder, Peabody & Co., a Wall Street investment bank. There, he worked in the mergers and acquisitions group, advising clients on corporate transactions.
Career and achievements
In 1994, Arougheti joined Indosuez Capital, a boutique firm that specialized in leveraged finance and distressed debt. He became a principal and a member of the investment committee, responsible for originating, structuring and executing deals across various asset classes and products.
In 2001, he moved to Royal Bank of Canada (RBC), where he was a managing partner of the principal finance group of RBC Capital Partners. He led a team that invested in a diverse portfolio of middle-market leveraged loans, subordinated debt, preferred equity and common stock.
In 2004, Arougheti co-founded Ares Management with Antony Ressler, David Kaplan and Bennett Rosenthal. Ares is a credit-oriented alternative investment firm that manages $341 billion in assets as of 2024. He helped create and grow Ares’ private credit business, which is the largest and most active direct lender in the U.S. and Europe. He also oversees Ares’ other businesses, which include private equity, real estate and infrastructure.
Arougheti became the CEO and president of Ares in 2018, succeeding Ressler, who remains the executive chairman. He is also a director of Ares Management Corporation, the publicly traded parent company of Ares. Additionally, he serves as co-chairman of Ares Capital Corporation (ARCC), a business development company that is the largest publicly traded BDC in the U.S.
He is also co-chairman of Ares Acquisitions Corporation II (AACT), a special purpose acquisition company (SPAC) that raised $1.2 billion in its initial public offering in 2023. He is also a director of Ares Commercial Real Estate Corporation (ACRE), a mortgage REIT that invests in commercial real estate loans.
Under Arougheti’s leadership, Ares has achieved impressive growth and performance, delivering strong returns to its investors and shareholders. Ares has also diversified its portfolio and expanded its global presence, with offices in North America, Europe, Asia and Australia. Ares has also made several strategic acquisitions, such as the purchase of Landmark Partners, a leading secondary private equity and real estate firm, in 2016, and the merger with SSG Capital Management, a leading Asian alternative asset manager, in 2020.
He has been recognized as one of the most influential and successful figures in the alternative investment industry. He was named to the Forbes 400 list of richest Americans in 2023, with a net worth of $1.8 billion as of 2024. He was also ranked among the top 100 CEOs in the U.S. by Harvard Business Review in 2023. He has received several awards and honors, such as the Lifetime Achievement Award from the Los Angeles Business Journal in 2020, and the Corporate Leadership Award from Operation HOPE in 2019.
Personal Life, Spouse, Children and Philanthropy
Michael Arougheti is married to Nelly Bly-Arougheti, a journalist and author who writes under the pen name Nelly Bly. They have three children and live in Los Angeles, California. He is an avid sports fan and enjoys playing golf and tennis.
Arougheti is also a generous philanthropist who supports various causes and organizations, especially those related to education, economic opportunity and homelessness. He is a board member of Operation HOPE, a nonprofit that provides financial literacy and empowerment programs to underserved communities. He is also a member of the PATH Organization Leadership Council, a nonprofit that helps homeless individuals and families find permanent housing and support services. He also supports Yale University, where he serves on the President’s Council on International Activities and the Yale Tomorrow Campaign Committee. He also funds scholarships and fellowships for students from diverse backgrounds and interests.
He is a respected and admired leader who has made a positive impact on the world through his business and philanthropic endeavors. He is a role model and an inspiration for aspiring entrepreneurs and investors who want to make a difference in their fields and society.
Height, Weight
- Height: 5 feet 10 inches
- Weight: 68 kg
- Hair Color: Black
- Eye Color: Black
Michael Arougheti is a visionary leader, a successful entrepreneur, and a generous philanthropist. He is the co-founder, CEO, president, and director of Ares Management, one of the world’s largest and most respected alternative investment firms. He has built a global platform that offers flexible and customized solutions to its clients across different asset classes and markets. He has also created a culture of collaboration, innovation, and excellence among his team. He is married to Nelly Bly-Arougheti, a talented author and journalist, and has three children. He supports various causes and organizations, especially those related to education, economic empowerment, and health. He has a net worth of $1.8 billion and owns a significant stake in Ares Management, as well as shares of other companies. He is one of the most influential and inspiring figures in the financial world and beyond
