Robert Ziff Net Worth & Biography
|Popular Name:||Robert Ziff|
|Real Name:||Robert D. Ziff|
Michelle Angelic Locher
|Net Worth:||$5 Billion|
American billionaire Robert Ziff, born in 1967, is best known for being one of the sons of publisher William Bernard Ziff Jr. and a grandson of William Bernard Ziff Sr. After turning down his father’s proposal to take over the Ziff Davis Incorporated., Robert and his brothers went on to invest what they inherited from their father in hedge funds, real estate, debt, equities, and private equity. William Bernard Ziff Jr. co-founded the popular technology magazine publishing company Ziff Davis Inc. In 1994, he had to sell 95 percent of the company’s stake to Forstmann Little & Company for a little over 1 billion since his three sons were not interested in the publishing business. Today, Robert is one of the wealthiest people in the United States thanks to the fruits of his investments in some reputed businesses in the country. This article bears further information on his life, career accomplishments, and current financial standing.
Early Life: Childhood, Education, Family
Robert was born in 1967 in the family of William Bernard Ziff Jr. and his Barbara Ingrid Beitz, Helen. He has two other brothers, Dirk and Daniel. His father was a Jewish American while his mother was an ethnic German.
He attended Harvard University where he studied undergraduate electrical and computer engineering. From there, he attended Cornell Law School and graduated first in his class in 1992.
Professional Life: Business Career
He was the editor of the Cornell Law Review while at Cornell Law School, and after that, he worked as a clerk for Chief Judge Monroe G. McKay of the US Court of Appeals for the 10th Circuit in Salt Lake City, Utah. Later on, he worked at Ziff Communications Company as the vice president of strategic planning.
In 1994, his father sold 95 percent of Ziff Davis Company for around $1.4 billion and went into retirement. Robert and his brothers Daniel and Dirk inherited the family fortune and went into other things, as they were never interested in taking over their father’s company as their father had originally planned. With the wealth they had inherited from their father, Robert and his brothers went on to establish New York City-based Ziff Brothers Investments. They invested their inheritances broadly across private equity, hedge funds, equities, debt, real estate, and commodities. They also provided seed money to hedge fund manager Daniel Och in exchange for a 10 percent share in Och-Ziff Capital Management which went public in 2007.
In 2014, Ziff Brothers Investments was dissolved by the three brothers, and each of them went on to continue making investments independently.
His businesses aside, Robert also holds other notable positions in a number of organizations within the United States. As of this writing, he sits on the board of trustees at The IDEAL School of Manhattan and The Browning School.
Personal Life: Wife, Children, Private Interests
Robert Ziff is a happily married man and father figure. He is married to fellow Cornell Law School graduate Michelle Angelic Locher. She is an attorney by profession but has succeeded in mastering the art of running her career while also managing her family simultaneously. The husband and wife reside in Manhattan with their twin sons named Caleb and Jonathan Ziff.
Philanthropy & Political Contributions
Mr. Ziff is known for his philanthropic side as well. He is a benefactor to many institutions and causes in the country and has been on the front of many charitable endeavors for more than a decade.
In 2008, he instituted the Robert D. Ziff Professorship of Law at his alma mater, Cornell Law School. Three years later he made headlines for his financial donations to Republican legislators in support of gay marriage.
In 2017, he endowed the Robert B. Kent Public Interest Fund at the prestigious Cornell University in honor of his law school professor.
His wife has also been active in similar endeavors as well. She is remembered for her $40,000 donation to the campaign of Montana Governor Steve Bullock. His gift was the second-highest, topped only by David Gray, chief legal officer and partner at Ziff Brothers Investments who donated $45,000).
Robert Ziff Net Worth: Salary, Assets, Income Sources
This businessman and his brothers have successfully multiplied the sum of money they inherited from their father back in 1994, and they did this by investing in multiple businesses concerned with hedge funds, real estate, debts, and others, before deciding to invest individually. Today, Forbes magazine estimates Robert Ziff’s net worth at 5 billion dollars.
Robert is the middle son of publishing tycoon William Bernard Ziff, Jr. who sold 95 percent of his business to Forstmann Little for about 1.4 billion dollars and passed the fortune to his children, who went ahead to established the New York City-based company Ziff Brothers Investments, through which they invested their inheritances broadly across different ventures that eventually paid off hugely and set the wheel in motion for their wealth and ultimately made it possible for each man to seize a slot of the wealthiest American’s list. Robert is also a philanthropist and political contributor. He is happily married and enjoys a happy home with his wife and children in Manhattan, New York.