Mario Gabelli
Mario Joseph Gabelli (born June 19, 1942) is an American stock investor, investment advisor, and financial analyst. He is the founder, chairman, and CEO of Gabelli Asset Management Company Investors (Gamco Investors), an investment firm headquartered in Rye, New York.
Overview
Mario Joseph Gabelli (born June 19, 1942) is an American stock investor, investment advisor, and financial analyst. He is the founder, chairman, and CEO of Gabelli Asset Management Company Investors (Gamco Investors), an investment firm headquartered in Rye, New York. Forbes magazine listed him as #1725 in December 2023 on its list of billionaires, with a net worth of $1.7 billion US. In January 2000, Gabelli was included on the Barron's All Century Team, their list of the most influential mutual fund industry portfolio managers. He was named an honorary member of Local 6 and the Hotel Trades Council in December 2019, and was formally inducted into the Horatio Alger Association of Distinguished Americans in April 2020.
Early life and education
Gabelli, the son of Italian immigrants, was born in The Bronx and went to Fordham Preparatory School, where he graduated in 1961. He has said he read market reports for fun when he was very young and that he bought his first stock when he was 13 years old. Gabelli won a scholarship and graduated from Fordham University summa cum laude in 1965. He received his Master of Business Administration degree from Columbia Business School. At Columbia, he was taught by Roger Murray, noted value investing professor and co-author of the Fifth Edition of Security Analysis, The Graham & Dodd Value Investing Bible. Gabelli and his firm later launched the Graham & Dodd, Murray, Greenwald Award for Distinguished Value Investors. This award is presented yearly at his annual client symposium.
Loeb, Rhoades & Co.
After graduation, Gabelli accepted a position at Loeb, Rhoades & Co. as a security analyst responsible for coverage of farm equipment, auto parts conglomerates and later media and broadcasting. He put into practice the theory of value investing he had learned at Columbia. He rated companies not by earnings but cash flow, analyzing a firm in great detail to calculate what he called private-market value: not the share price at which a stock was selling on an exchange, but the price per share someone would be willing to pay in order to buy the whole company.
Gabelli & Co.
In 1976, Gabelli formed Gabelli & Co., an institutional brokerage house, with borrowed funds and money he had accumulated trading his own account. Soon after, he formed Gabelli Investors (later Gamco Investors) to manage money for clients.
The Gabelli Mutual Funds
Gabelli's first investment vehicle for the general public, the Gabelli Asset Fund, launched in March 1986 as a no-load fund requiring a minimum of $25,000 to invest. Today, this fund is available for a minimum investment of $1,000 and accepts IRA investments without a minimum. The Asset Fund was followed by the Gabelli Equity Trust, a closed-end fund, which, at the time, was the largest equity offering on the NYSE. By the end of 1988, Gabelli's firm had three mutual funds—two run by himself—with combined assets of $650 million. By 1998, Gabelli Asset Management Inc. was managing $16.3 billion. In February 1999, the company went public, selling 6 million shares, or about twenty percent of the common stock, at $17.50 per share. In 1997, when ten Gabelli equity funds averaged a return of 31.7 percent, the best of any U.S. mutual fund group, Gabelli was honored by Morningstar, Inc. as the domestic equity fund manager of the year. The Institutional Investor chose Gabelli as 2010 Money Manager of the Year for its second annual U.S. Investment Management Awards. The selection was based on performance as well as a survey by U.S. institutions.
Wealth and philanthropy
Signators of The Giving Pledge, Gabelli and his wife Regina joined the cause in 2017, which is a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to giving back. According to Forbes magazine, Gabelli's net worth was $1.4 billion as of April 2020.
The Buoniconti Fund to Cure Paralysis
In September 2025, Gabelli was given the Outstanding Philanthropist Award at the 40th Annual Great Sports Legends Dinner. The dinner benefits the Buoniconti Fund to Cure Paralysis, and raises awareness and millions of dollars for research and treatment of paralysis and other neurological diseases and disorders.
Broadcasting & Cable Hall of Fame
On September 26, 2024, Gabelli was given the Chairmans Award and was inducted into the B&C Hall of Fame Class of 2024. The B&C Hall of Fame honors pioneers, creators, investors and financial supporters of the media. Gabelli's engagement and financial support has contributed to significant growth of the industry.
American-Italian Cancer Foundation
On November 8, 2023, Gabelli was given the Alessandro di Montezemolo Lifetime Achievement Award. Established in honor of Alessandro di Montezemolo, co-founder of the American-Italian Cancer Foundation, the award recognizes outstanding individuals who exemplify the highest standards of commitment to philanthropy. Di Montezemolo's motto was "you make a living by what you do - you make a life by what you give" Gabelli has been on the AICF Board of Directors since 2000.
The National Judicial College
On September 28, 2023, Gabelli was honored by the National Judicial College with the "Making the World a More Just Place" award. Created more than a half-century ago at the recommendation of a U.S. Supreme Court justice, the National Judicial College, based in Reno, Nevada since 1964, remains the only educational institution in the United States that teaches courtroom skills to judges of all types.
Iona University
In February 2023, Gabelli established an endowed professorship in finance at the LePenta School of Business. He also made a pledge to advance strategic initiatives on Iona's new campus in Bronxville, home to the NewYork-Presbyterian Iona School of Health Sciences.
Horatio Alger Award
In April 2022, during the Association's 73rd Horatio Alger Award Induction Ceremonies in Washington, D.C., Gabelli was inducted into Horatio Alger Association of Distinguished Americans and received the Horatio Alger Award. The association is a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education. For more than 70 years, the annual award has been bestowed upon esteemed individuals who have succeeded despite facing adversities, and who have remained committed to higher education and charitable efforts in their communities.
Wikipedia contributors · Mario Gabelli · revision 1373308400 · CC BY-SA 4.0 · Plain text extracted and formatting adapted; tags derived from linked topics.