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| 23. Daniel Och / $140 million | ||
| Title: Founder, chairman and chief executive officerFirm: Och-Ziff Capital Management Group (New York)Age: 532015 Rank: No. 232015 Earnings: $140 million2014 Rank: Did not qualify Years on list: 11 | Source of 2015 earnings: Dividends on his holdings in Och-Ziff stockEducation: BS in finance, Wharton School of the University of Pennsylvania, 1982 | |
Daniel Och is one of five managers who qualify for the Rich List this year — his 11th time overall — even though at least one of their funds lost money in 2015. The founder of New York–based multistrategy specialist Och-Ziff Capital Management Group made most of his gains from dividends from his huge stock holdings in the firm, one of the only publicly traded hedge fund companies. Last year his flagship multistrategy fund, OZ Master Fund, was down 0.28 percent. The firm’s other two main funds fared much better: OZ Asia Master Fund was up 9.64 percent while OZ Europe Master Fund rose 5.89 percent. With $44.6 billion under management at year-end, Och-Ziff is the world’s fourth-largest hedge fund firm. Its stock price, however, has been in free-fall, dropping by 70 percent since May 2015. Och-Ziff has been investigated for possible violations of the Foreign Corrupt Practices Act for more than two years, having received subpoenas from the U.S. Securities and Exchange Commission and requests for information from the Department of Justice concerning a 2007 investment by a foreign sovereign wealth fund in some of the Och-Ziff funds and investments by some of the funds in a number of companies in Africa. Och sits on the board of directors of the Robin Hood Foundation and has given sizable sums to New York–Presbyterian Hospital, where he has served on the board of trustees since 2005. He has also given millions of dollars to Solomon Schechter Day School of Essex and Union (New Jersey), now called Golda Och Academy, which he attended and his parents helped found.
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