With the net worth of $2.2 Billion, Bruce Karsh is the #723 richest person on earth all the time in our database.
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Bruce A. Karsh was born in 1955 to a Jewish family, the son of David H. Karsh, and Roberta “Bobby” Karsh. In 1974, he graduated from Ladue Horton Watkins High School in St. Louis. In 1977, Karsh earned an A.B. degree in economics from Duke University where he graduated summa cum laude and was elected to Phi Beta Kappa. In 1980 he earned a J.D. from the University of Virginia School of Law, where he received the academic award Order of the Coif. While at the University of Virginia he served as notes editor for the Virginia Law Review.
In 1987, Broad's insurance company became a client of TCW Group. Shortly thereafter, Karsh was hired by Howard Marks to manage distressed debt at TCW. TCW's first distressed debt fund was started in 1988. Karsh served as Managing Director of TCW and managed the Special Credits Funds there.
In April 1995, Karsh, Howard Marks, and three other employees at TCW left their firm to found Oaktree Capital Management. Karsh became a portfolio manager for Oaktree's Distressed Opportunities and Value Opportunities strategies and Chief Investment Officer for the firm.
In 1998, Karsh and his wife started the Karsh Family Foundation, a charitable organization that has donated or committed over $200 million for education and scholarships across all levels. Among their recipients have been Teach for America and KIPP. Karsh is the co-founder of The Painted Turtle, a non-profit organization that operates a camp for children with life-threatening diseases in Los Angeles.
Karsh joined the Board of Directors for Duke University’s investment management company (DUMAC) in 2002, and in July 2005 was appointed Chairman. He served on the Duke University Board of Trustees from 2003 to 2015 and is now Trustee Emeritus.
The Karshes have given over $100 million to Duke University, almost all of which went to undergraduate financial aid. This included $12 million in 2005, $20 million in 2008, and $50 million in 2011 ($30 million for U.S. students and $20 million for international students). In 2016, The Office of Undergraduate Financial Support was named after the Karsh Family. The Karsh Alumni and Visitors Center is expected to be completed in 2019.
Karsh (along with Howard Marks) received the Money Manager of the Year award at Institutional Investor’s US Investment Management Awards in 2015. Along with his wife, Karsh received KIPP’s Giving Tree Award in 2015. He was awarded the Duke University Medal in 2016.
Bruce and Martha Karsh donated $43.9 million to the University of Virginia School of Law in 2018, the largest gift in school history; the money will be focused on student scholarships and the founding of the Karsh Center for Law and Democracy. They had made previous donations to the law school, including a renovation project to create the Karsh Student Services Center, which opened in 2012.
In January 2020, the couple donated $10 million to Howard University (the largest gift in the university's history) for Howard's Bison STEM Scholars Program, which was renamed Karsh STEM scholars program.
In July 2020, Bruce and Martha Karsh, through their Karsh Family Foundation, supported $25 million to fund digestive and liver disease study and care. In appreciation of the donation, the present Division of Digestive and Liver Diseases is called the Karsh Division of Gastroenterology and Hepatology. The pair give to a number of organizations and featured on the 2011 Chronicle 's annual Philanthropy 50 list on the biggest contributors, when they gave Duke University $50 million for scholarships.
Currently, Bruce Karsh is 65 years old. Bruce Karsh will celebrate 66th birthday on Sunday, October 10, 2021.
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