Ken Fisher’s net worth is expected to increase by $7 billion due to the sale of a minority stake in Fisher Investments. Private equity firm Advent International and a unit of Abu Dhabi Investment Authority are purchasing the stake for at least $2.5 billion, potentially up to $3 billion. This transaction values Fisher Investments at $12.75 billion.
Ken Fisher, 73, founder and owner of Fisher Investments, manages $275 billion for over 150,000 clients.
The sale of a minority stake will significantly boost his net worth to approximately $12.2 billion, bringing him back onto the Bloomberg Billionaires Index. He was last on the list in 2022, when the entry threshold was lower.
“This transaction is aimed dually at estate tax and planning purposes while assuring that FI will maintain its traditional culture, growth evolution and devotion to exceptional client service,” Fisher said in the statement. “FI has been my life.”
Ken Fisher will retain majority beneficial ownership and over 70% of the voting shares in Fisher Investments after the sale, which is expected to finalize this year.
His current net worth of $5.2 billion reflects the valuation of Fisher Investments based on the average price-to-assets under management ratio of three public peers.
Investors in Advent vehicles include Mousse Partners, the family office of Alain and Gerard Wertheimer, who own Chanel.
Fisher, a San Francisco native, was mentored in investing by his father Philip, a renowned money manager and advocate of growth investing.
Ken founded Fisher Investments in 1979, published his first book “Super Stocks,” and began writing a Forbes column five years later.
He relocated his firm from California to Washington state in the mid-2010s for a more favorable business climate, and then moved again last year to a suburb of Dallas.
This second move followed a Washington Supreme Court ruling that upheld a 7% capital gains tax on the state’s wealthiest citizens.
Ken Fisher announced the relocation with a sarcastic comment attributing the decision to the court’s “wisdom and knowledge of the law.”
