Finance isn’t just about wealth. It is not about controlling people or resources. It’s a potent combination of money and influence that empowers a leader to shape the world. Not everyone possesses the ability to effect the economic and political landscape and bring into effect a global change. The true outliers make day-to-day decisions that affect millions, shake industries and change economic power.
Industry Leaders Magazine has compiled a list of top leaders in finance industry – billionaires, CEOs, and heads of state. Read on to see the full list of Finance Industry Outliers of 2017.
Title: Founder, Bridgewater Associates
Ray Dalio is the founder, chairman and chief investment officer of Bridgewater Associates, one of the largest and most successful hedge funds in the world. A self-made billionaire, Dalio is managing a $160 billion portfolio, and is himself worth at least $17 billion. Since being named to TIME magazine’s 2012 list of the most influential people in the world, his investment secrets have become highly coveted and last year he shared them in a 30 minute YouTube video, which has been watched more than 2 million times.
His self-published manual ‘Principles’ on money management and leadership is regarded as a bible among the investment world. Dalio is completely transparent to his employees, and it has worked in favor for him: Bridgewater is often viewed as cultish, and is among the best places to work on Wall Street.
Ray Dalio attributes his success by reminding himself of decisions he’s made which didn’t work.
“Principles are ways of successfully dealing with reality to get what you want out of life.”
Title: Founder, Icahn Enterprises
Carl Icahn is the billionaire founder of Icahn Capital Management. At the age of 80, he is worth $15.9 billion and is one of the most successful investors in the world. When Icahn revealed on Twitter that he has a stake in the company worth more than $1 billion, Apple stock shot up after a slump the year before. The billionaire is often compared with the legendary Warren Buffet and some even say that he is a better investor. He has a strong personality, and he’s without qualms when it comes to taking on bigger challenges.
Icahn has invested in many major companies in the USA and the rest of the world. Apple, Netflix, Time Warner, Casinos, Revlon, Mylan Stratosphere are some of the most prominent companies Icahn has invested in.
So, what’s his investment philosophy? Carl Icahn has a reputation in the Wall Street as a ruthless investor. His mojo is clear: contrarian investment and shareholder activism, both of which are closely intertwined.
Title: Founder and CEO, Blackstone Group
Steve Schwarzman is the chairman, CEO and co-founder of Blackstone Group. With $334 million in assets under management, Blackstone is one of the largest buyout firm on earth. The 2007 buyout of the Hilton hotel chain is considered to be one of the biggest and most profitable buyout of all time. Blackstone is also the largest owner of real estate in the world.
Schwarzman started his career with investment bank Lehman Brothers before leaving in 1985 to start Blackstone. The buyout firm began with as little as $400,000 and is now a juggernaut in the Wall Street. In 2014, Blackstone generated a record $7.5 billion in revenue and plans to double in size in by 2022.
Title: Managing director of the IMF
Christine Lagarde is the head of the International Monetary Fund, which serves as the economic adviser for 189 countries to keep the global economy growing. She is also the first woman to head the organization in its 70-year history. One of the most powerful woman in the world was an early predictor of the global economic meltdown that began in 2008.
Lagarde is perhaps the only finance leader in history to be called a rockstar, a superhero, and a style icon. Under her leadership, the IMF has integrated China’s currency into the global system – a historic move, which would further cement China’s raise as an economic superpower. She has also been solely responsible shoring Greece’s failing economy which has required three bailouts in five years and more than $100 billion of aid.
Title: CEO, Bloomberg LP
After leaving Bloomberg in 1981, and spending twelve years as mayor of New York City, Bloomberg has made waves by returning to his company as the figurehead. His return brought several layoffs, management shakeups, and a website relaunch. The man with a fortune worth $42 billion is once again at the center of revolutionizing the distribution of financial information.
The Man is effectively responsible for instituted a smoking ban in New York City, although the efforts fizzled out last year. Bloomberg has also pledged $50 million to combat gun violence through the Everytown for Gun Safety organization.
Title: Founder and CEO, BlackRock
Larry Fink is the CEO and founder of BlackRock, the world’s largest asset-management firm. Back in the ‘80s, he was ousted from investment bank First Boston after losing $100 million on a poor interest bet. In 1988, he set out to start BlackRock, which quickly grew into one of the largest money managers in the U.S.
In the Wall Street, Fink is regarded one of the savviest finance industry leaders. BlackRock’s risk-management system, also known as Aladdin, has brought top banks and the US government out of the 2008 financial crisis.
Larry Fink oversees $4.5 trillion in assets, a huge chunk of which is comprised of the average US citizen’s person or retirement account.
Title: Chair of the Board of Governors of the Federal Reserve
Janet Yellen is also known as the sole guardian of the US economy. As the head of the Federal Reserve, she is responsible for adding 300,000 jobs in one single month, and lowering unemployment to under 5 percent.
Very few leaders in the finance industry have a profound impact on the Wall Street, investors and company executives worldwide. Many worry that US might once again fall into a recession, but Yellen is confident that it’s unlikely for decades to come.
Title: CEO, Fidelity
Back in 2014, Abigail Johnson succeeded her father as Edward as CEI of Fidelity, the second-largest mutual fund company in the US. As the figurehead, she oversees more than $5.2 trillion in assets. It’s an open secret that Johnson was groomed from an early age to take over the company. She started working with her father right after high school, and officially joined as an analyst in 1988.
As soon as she came in power, she made company-wide changes, including large cost cuts and firing ineffective managers. As the CEO of Fidelity, she is responsible for millions of American’s retirement account. Johnson is worth $18.5 billion, making her one of the wealthiest women in the world.