Clifford Scott Asness, known as Cliff Asness, is a well-known American investor and hedge fund manager. He is the co-founder and Chief Investment Officer (CIO) of AQR Capital Management.
Here at World Celebrity Net Worth, we delve into Cliff Asness net worth 2023, providing an overview of his career achievements and highlighting key factors contributing to his financial success. Let’s follow!
What is Cliff Asness Net Worth and Salary 2023?
According to Forbes, Cliff Asness had an estimated net worth of $2.6 billion in 2023. Asness has accumulated his wealth through his successful career.
In 2022, AQR Capital Management reached its peak revenue of $52 million, with a revenue per-employee ratio of $52,000.
Asness’ salary in 2023 is not publicly disclosed. However, it is known that he made $37 million in 2002 and $50 million in 2003.
Read More: Top 100 Richest People In The World 2023
Cliff Asness’s Overview
Early Life
Cliff Asness’s real name is Clifford Scott Asness. He was born on October 17, 1966, in Queens, New York. Raised in a Jewish family, he is the son of Carol, who ran a medical education firm, and Barry Asness, an assistant district attorney in Manhattan.
When Cliff was four years old, his family moved to Roslyn Heights, New York. He attended the B’nai B’rith Perlman Camp and later graduated from Herricks High School.
Asness pursued his undergraduate studies at the University of Pennsylvania, where he completed a double major in computer science and finance at the Jerome Fisher Program in Management and Technology (M&T).
He went on to complete his Ph.D. in finance at the University of Chicago in 1994.
Career
Cliff Asness is an American hedge fund manager and the co-founder of AQR Capital Management, a money management firm that oversees $100 billion. AQR stands for Applied Quantitative Research.
In the early 1990s, he left academia to become the manager of Goldman Sachs Asset Management’s (GSAM) new quantitative research desk.
He invited two friends from his cohort at the University of Chicago to join him at GSAM, where they began developing models to evaluate risk in currencies, bonds, and entire economies.
In 1995, he persuaded a few partners at Goldman to provide him with an initial $10 million investment to employ the computer-driven models that his team had developed to invest in the market.
In 1998, Asness co-founded AQR Capital Management in New York City with David Kabiller, John Liew, and Robert Krail. The firm’s first product was a hedge fund.
AQR’s products feature rules-based systems that trade assets and claim to offer fair fees for uncorrelated returns.
Its strategies often invest in stocks and other securities based on attributes, factors like value and momentum, believed to produce higher returns over time.
By 2017, Asness had moved away from hedge funds and aggressively promoted lower-fee, more liquid, and transparent products, such as mutual funds that use computer models, often to replicate hedge fund returns.
Asness has been an outspoken critic of high hedge fund fees and the Obama administration’s treatment of Chrysler’s senior bondholders.
He has also been a frequent commentator on financial issues in print and on television programs like CNBC.
In 2012, he was included in the 50 Most Influential list of Bloomberg Markets magazine.
Personal Life
In his personal life, Asness married Laurel Elizabeth Fraser of Seward, Nebraska, the daughter of a retired Methodist pastor in 1999. The couple has four children together.
He is known for frequently commenting on financial issues in print and on television programs such as CNBC. He has been an outspoken critic of high hedge fund fees and the Obama administration’s treatment of Chrysler senior bondholders.
Why is Cliff Asness Famous?
Cliff Asness is famous for being the co-founder, Managing Principal, and Chief Investment Officer of AQR Capital Management.
AQR, which stands for Applied Quantitative Research, was founded in 1998 by Asness along with David Kabiller, Robert Krail, and John Liew.
He is renowned for his expertise in quantitative finance and his innovative investment strategies that focus on factors like value and momentum to produce higher returns over time.
He is also known for his outspoken views on financial issues, appearing frequently in print and on television programs such as CNBC.
He has been recognized as one of the smartest investors in the world and was included in Bloomberg Markets magazine’s 50 Most Influential list in 2012.
FAQs about Cliff Asness
What is Cliff Asness’ investment philosophy?
Asness’ investment philosophy revolves around systematic and quantitative approaches to investment, as opposed to discretionary and qualitative methods.
His strategies involve the use of mathematical models and algorithms to identify and take advantage of patterns in the market, including factor investing and momentum strategies.
Is Cliff Asness active on social media?
He was active on Twitter, where he often shared his thoughts on a wide range of topics, including finance, economics, politics, and popular culture.
Has Cliff Asness written any books?
He has not authored any books. However, he has written many academic papers, articles, and blog posts on various topics in finance and investing.
Has Cliff Asness won any awards or honors?
Asness has been recognized with multiple awards throughout his career for his contributions to the field of finance.
It includes the James R. Vertin Award from the CFA Institute, which recognizes individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.
Where is AQR Capital Management located?
AQR Capital Management is headquartered in Greenwich, Connecticut. However, the firm has several international offices as well.
Conclusion
In conclusion, Cliff Asness has emerged as a prominent figure in the world of finance, and his net worth reflects his remarkable achievements. He has leveraged his expertise in quantitative investing and market analysis to generate substantial wealth.
While the precise figure of Cliff Asness’ net worth in 2023 may vary, it is clear that his diligent efforts and strategic decision-making have contributed to his considerable wealth.
If you want to know about him, check out our website WCnetworth.com for more information. Thanks for reading!
