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Grizzly Bulls’ Billionaires Index

⬅ # 760 John Coates|# 762 H. Ross Perot Jr ➡

# 761 Steven Udvar-Hazy 

$4.46B

Real Time Net Worth
as of 11/23/2024
$10.2M (0.23%)

# 761 Steven Udvar-Hazy 

$4.46B

Real Time Net Worth
as of 11/23/2024
$10.2M (0.23%)
OccupationCEO and Chair, Air Lease
Source of WealthAircraft Leasing
Age78
ResidenceWestlake, Texas
Marital StatusMarried
Children4
EducationBS, University of California, Los Angeles
Age-Adjusted Net Worth$1.32B
Steven Udvar-Hazy
Steven Udvar-Hazy
United States
Net worth: $4.46B

Self-Made Score 

Mido Multifort Chronograph Special Edition - Black Dial

Wealth History

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Biography

Overview

Steven Udvar-Hazy is a Hungarian-American billionaire businessman.
He is most known for creating the airplane leasing industry and founding International Lease Finance Corp. (ILFC) and Air Lease Corp.
He immigrated to the U.S. with his family in 1958, fleeing the Soviet occupation of Hungary.

Early Life

Udvar-Hazy was born in Hungary in 1946.
Udvar-Hazy's family moved to the US in 1958 to escape the Soviet occupation of Hungary.
He attended University High School in Los Angeles and later studied at the University of California, Los Angeles.

Career

During the transition from propeller aircraft to jets in the 1960s, Udvar-Hazy recognized the opportunity in aircraft leasing.
He co-founded ILFC in 1973, leasing a single used Douglas DC-8 to Aeroméxico.
In 2010, he left ILFC and founded Air Lease Corp., taking it public a year later.
In 2016, he received the Grand Cross of the Order of Merit of Hungary for his contributions to the airline industry.

Philanthropy

Udvar-Hazy donated $66 million to the Smithsonian Institution, leading to the construction of the Steven F. Udvar-Hazy Center.
He also contributed to the Christine and Steven F. Udvar-Hazy Library and Learning Center at Embry–Riddle Aeronautical University.
A building at Utah Tech University is named after his parents, Erno and Etel Udvar-Házy.

Personal Life

He is married with four children and resides in Beverly Hills, California.

Air Lease Corp

Air Lease Corp. (ALC) was founded by Udvar-Hazy in 2010.
The company purchases new commercial aircraft and leases them to airlines worldwide.
As of 2017, ALC owned 244 aircraft leased to over 91 airlines across 55 countries.
ALC provides net operating leases, requiring lessees to cover all operating expenses.
In 2019, ALC signed deals for Airbus A330-900 and Airbus A321XLR aircraft.

Steven Udvar-Hazy's Wealth is Equivalent to:

3,437,259 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

844,844 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

45,633 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Steven Udvar-Hazy?

If you started with $10,000 and invested an additional $500 each month at a 43.50% CAGR, it would take you 5 years to reach Steven Udvar-Hazy's net worth of $4.46B.

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 61.02% compared to 25.82% for the S&P 500 benchmark.

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

Steven Udvar-Hazy 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 Steven Udvar-Hazy, Aircraft Leasing 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.

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Edited by: Lee Bailey