⬅ # 260 Francine von Finck|# 262 Andrei Guryev

# 261 Ramzi Musallam 

$9.33B

Real Time Net Worth
as of 4/12/2024

# 261 Ramzi Musallam 

$9.33B

Real Time Net Worth
as of 4/12/2024
OccupationCEO, Veritas Capital
Source of WealthPrivate Equity
Age55
ResidenceNew York, New York
EducationBS, Colgate University; MBA, University of Chicago Booth School of Business
Age-Adjusted Net Worth$13.1B
Ramzi Musallam
Ramzi Musallam
United States
Net worth: $9.33B

Self-Made Score 

Wealth History

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Biography

Overview

Ramzi Musallam was born in 1968 in Amman, Jordan, to Samih Musallam, a Palestinian Christian who emigrated to the U.S. after the first Arab-Israeli war in 1948.
Ramzi's family moved frequently during his formative years, living in emerging markets like Saudi Arabia and Tanzania, providing him with a diverse cultural upbringing and instilling sensitivity and resilience.
He studied economics at Colgate University and began his career on Wall Street as an investment banker at JPMorgan in 1990, transitioning to private equity at Berkshire Partners two years later.
Ramzi earned his M.B.A. from the University of Chicago and joined Veritas Capital in 1997, becoming its second-highest-ranking executive.
In September 2012, Ramzi faced a crisis when Veritas' founder, Robert McKeon, committed suicide. Ramzi took charge, navigated the firm through a challenging period, and emerged as the majority owner and CEO.
Ramzi Musallam holds top government security clearance, emphasizing his close proximity to government operations, particularly in Washington, D.C.
He maintains a low profile, shunning publicity, and is known for his effectiveness and success in the private equity industry.

Career at Veritas Capital

Joined Veritas Capital in 1997 and became CEO in 2012.
Under his leadership, Veritas' assets under management grew from $2 billion to $44 billion.
Specializes in acquiring companies in heavily regulated industries, such as national security, healthcare, and education.
In October 2020, Dyal Capital Partners acquired an 11.8% stake in Veritas, valuing the firm at $6.15 billion.

Investment Strategies and Successes

Focused on technology companies operating in sectors dominated by the U.S. federal government, including defense, healthcare, and education.
Maintains a close proximity to government operations, allowing for a deep understanding of government-influenced markets.
Veritas was listed as the private equity industry’s fourth-best-performing firm in January, based on the HEC–Dow Jones ranking.
Successfully navigated the key-person provision triggered by Robert McKeon's death, securing investor support and ownership of Veritas.
Led Veritas' strategic shift into health care technology, culminating in the $2.6 billion sale of Truven Health Analytics to IBM in 2016.
Successfully ventured into cybersecurity with the acquisition of BeyondTrust, selling it in 2018 for $755 million.
Oversaw the acquisition and turnaround of aerospace repair company StandardAero, selling it to Carlyle Group in 2019 for $5.3 billion.
In 2020, sold an 11.8% stake in Veritas to Dyal Capital Partners for $725 million in cash, valuing the firm at $6.2 billion.

Legal Challenges

In 2020, Ramzi faced a lawsuit from Robert McKeon's heirs over a $200 million loan associated with the Dyal Capital Partners deal, alleging breach of contract.
In September, the New York State Supreme Court dismissed the case, affirming Ramzi's adherence to the contract terms.

Personal Life

Ramzi Musallam lost his father, Samih Musallam, a decade ago, but keeps a large picture of him at his desk as a reminder of the American dream and family legacy.

How long would it take you to become as rich as Ramzi Musallam?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Ramzi Musallam's net worth of $9.33B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 36.27% compared to 8.51% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Ramzi Musallam is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Ramzi Musallam, Private Equity is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey