Thursday, September 23, 2010

Forbes "Red Arrowed" David Rubenstein

Carlyle Group co-founder David Rubenstein saw his net worth drop, according to Forbes.  In six months Rubenstein fell from $2.5 billion to $2 billion.  This occurred despite Carlyle's spate of cash ins, which typically generate huge profits for the most senior members of private equity firms.

The only affiliate to fail since March was Oriental Trading.  It didn't impact the assets under management number Carlyle publishes.  For a recap of Rubenstein's Forbes net worth estimates (pictured at the top of this post):

2007 $2.5 billion
2008 $2.7 billion
2009 $1.4 billion
2010 $2.5 billion (March)

2010 $2.0 billion (September)

I don't see him holding or taking home less, not in the last six months of 2010.  Maybe, Mr. Rubenstein gave more of it away.