Bruce Wasserstein Net Worth is$2.9 Billion
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Profession: Writer, Businessperson, Banker, Investment banking, Financier
Date of Birth: Dec 25, 1947
Nicknames: WASSERSTEIN BRUCE, Wasserstein Bruce Jay
Ethnicity: Jewish people
Country: United States of America
Wall Street is giddy with glee over the recent rise in the financial markets. But even as personal shoppers at Tiffany & Co. brace for the coming wave of bonus spenders, there are a few people in finance who are not euphoric. Bankers at Lazard are mourning the legendary investment banker Bruce Wasserstein, who recently died unexpectedly at the age of 61. If you are not a finance geek or a student of the rich, this is probably the first you have heard of Mr. Wasserstein and his $2.5 billion fortune. You are, however, familiar with his handiwork. He was a sly player in the 1989 acquisition of RJR Nabisco by KKR, a story memorialized in the book Barbarians at the Gate. Bruce was involved in thousands of deals worth a cumulative $250 billion, including the mergers that created Time Warner, Morgan Stanley and UBS. More recently, Wasserstein staged a high profile turnaround of the white shoe investment bank Lazard. Never satisfied with his intense day job, Bruce's private equity firm Wasserstein & Co. holds stakes in the popular New York magazine, and the delicious Harry & David gift basket retailer, among others. He was a rumored bidder in the sale of Business Week. Not too shabby, even for a graduate of BOTH Harvard Business School and Harvard Law. The life of an uber banker doesn't allow for much personal time, but Bruce managed to squeeze in 4 marriages, 3 divorces and 5 kids. He married the lovely 35 year-old Asian shipping heiress, Angela Chao, earlier this year. Together they shared a penthouse apartment on 5th Avenue in Manhattan and a $44 million estate in East Hampton. As the billionaire banker's estate is sorted out, perhaps the young Ms. Chao will set aside her mourning and join the throngs of shoppers on 5th Avenue for a few hours. If anyone deserves a little retail therapy, it's the last wife of Bruce Wasserstein.
Bruce Jay Wasserstein (December 25, 1947 - October 14, 2009) was an American investment banker and businessman. He was a graduate of the McBurney School,University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at Cambridge University. He was the Chairman and CEO of Lazard Ltd.
Born in Brooklyn, New York, to Morris and Lola (n'ee Schleifer) Wasserstein, Bruce Wasserstein was one of five siblings. His father, Morris, a Jewish immigrant from pre-World War II Poland, emigrated to New York City and started a ribbon company. His maternal grandfather was Simon Schleifer, a Jewish teacher in the yeshiva in Wloclawek, Poland. Claims that Schleifer was a prominent playwright are most likely apocryphal, as this profession was only added to his r'esum'e after Wendy Wasserstein, his sister, won the Pulitzer Prize for Drama. Schleifer moved to Paterson, New Jersey and became a Hebrew school principal.
Wasserstein helped broker more than a thousand transactions worth $250 billion since the 1980s. Starting his career as a Cravath, Swaine & Moore attorney, he later rose to co-head of First Boston Corp.'s dominant merger and acquisition practice. He eventually formed investment bank boutique Wasserstein Perella & Co., which he sold in 2000, at the top of the 1990s bull market, to Germany's Dresdner Bank for around $1.4 billion in stock. He left the unit Dresdner Kleinwort Wasserstein (formed by merging Dresdner's United Kingdom unit Kleinwort Benson with Wasserstein Perella) to take the job at Lazard Fr`eres. In 2005, he completed the initial public offering for Lazard.
Wasserstein controlled Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. In 2004, he added New York Magazine to his media empire. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash. He is credited with the term, Pac-Man defense, which is used by targeted companies during a hostile

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Bruce Wasserstein Latest News

An Artless Negotiation From the President Who Penned ‘The Art of the Deal’

Bruce Wasserstein, the revered investment banker who once ran Lazard and negotiated some of the biggest deals of the 1980s and ’90s, wrote a passage about the art of negotiation in his book “Big Deal” that seems prophetic today. “The tendency of ...
Posted: May 21, 2018, 6:13 pm

Mom of Billionaire Bruce Wasserstein's Lovechild Wants Use of Hamptons Pad

NEW YORK CITY — A comely Columbia Business School grad who had a lovechild with the late billionaire investor Bruce Wasserstein wants her little girl to have use of his custom-designed East Hampton pad to help the toddler connect to her dead dad.
Posted: July 17, 2013, 12:09 pm

Pamela Wasserstein Replacing Anup Bagaria as CEO at New York Media on May 2

A graduate of Harvard and Harvard Law School, Wasserstein is the daughter of the late Bruce Wasserstein, whose family entity acquired New York in 2004. He died in 2009. Pamela Wasserstein’s experience also includes stints at Apollo Global Management and ...
Posted: April 26, 2016, 10:36 am
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