Watches are big business. Which is probably why the titans of big business love watches. Despite being rendered practically useless by smartphones, many of the most powerful men in business still wear watches. A lot of the time these watches soar into the tens of thousands of dollars range.
They’re still given out by heads of state to hosts and flashy advertisements of A-list celebrities wearing them still grace the pages of magazines and publications that cater to affluent men.
Unlike women’s fashion, men’s clothing tends to not say much about their personality. Typically, men have only two ways of expressing themselves: through their car and through their wrist watch. It has been the showpiece of men’s fashion since it was invented over 200 years ago. Because let’s be honest, it is damn near impossible to wear a car to your office.
So it should come as no surprise that in finance, the titans of industry have a huge fascination with wrist watches. Not only are they great to look at but they are also collectible pieces of art as well. With that in mind, here are the wristwatches worn by the 15 most powerful men in business.
15. Warren Buffett, Berkshire Hathaway
Let’s start off with a legend. Warren Buffet is known as the Oracle, Sage, or Wizard of Omaha and is arguably one of the most successful investors in the world. He’s the second wealthiest person with a total net worth of $75.6 billion and is the chairman and largest shareholder of his diversified holding company Berkshire Hathaway since 1970.
On his wrist: Despite being one of the wealthiest people on the planet, Buffet is known for his personal frugality. The one area that his penny-pinching doesn’t apply, however, is on his wrist. He wears a Rolex Day Date President which retails for $34,050.
14. Anthony Scaramucci, SkyBridge Capital
Anthony Scaramucci is the founder of global investment firm SkyBridge Capital which he started in 2005. He served as co-managing partner before he sold the company in early 2017. The reason? In January he was tapped to become the Assistant to President Trump chief of staff Reince Priebus called to tell him he should pull out of consideration.
On his wrist: He may not have gotten the appointment but he still has his luxury watch! Scaramucci has been seen wearing the Breitling Avenger which sells for about $5,835. He was sporting it during the World Economic Forum.
13. David Solomon, Goldman Sachs
David Solomon joined Goldman Sachs as a partner in 1999 before becoming the Global Head of the Financing Group. From 2006 to 106 he was Co-Head of the Investment Banking Division and has now succeeded Gary Cohn to become co-COO of Goldman Sachs with Harvey Schwartz.
12. Larry Fink, BlackRock
Larry Fink became the Director and CEO of BlackRock after co-founding it in 1988. Originally built under the corporate umbrella of The Blackstone Group, it split away in 1994 with Fink retaining his positions. After a series of mergers and purchases, BlackRock now has over $5 trillion under management making it the largest money-management firm in the world by assets under management.
11. Ray Dalio, Bridgewater Associates
Investor, hedge fund manager, and philanthropist Ray Dalio is the founder of the investment firm Bridgewater Associates which currently manages $104 billion in assets. As head of one of the world’s largest hedge funds, he has amassed a fortune of $16.8 billion placing him at the 30th richest person in America.
10. James P. Gorman, Morgan Stanley
Born in Australia, James P. Gorman joined Morgan Stanley in February 2006 as President and COO of the Global Wealth Management Group before climbing the ranks to become Chairman and CEO in 2009. There he led a merger with Smith Barney which employs 16,000 financial advisors, oversees $1.8 trillion in assets, and is one of the largest wealth management platform in the world.
9. Phil Falcone, Harbinger Capital
Businessman and hedge funder Phil Falcone founded Harbinger Capital with Raymond J. Harbert in 2000. He served as chief executive and chairman of the company which has $9 billion in assets under management until he stepped down in 2014. He was also an avid hockey player having played a single season on a Swedish professional hockey team in the 80s. With that kind of background, it shouldn’t surprise anyone that he is minority owner of the NHL’s Minnesota Wild hockey team with a 40% stake in the hockey team.
8. Bill Ackman, Pershing Square Capital Management
Bill Ackman is a bit of a wild card and a contrarian investor. He’s received both praise and scorn from U.S. federal officials, state government officials, other heads of hedge funds, retail investors, and the general public. Basically, everyone has an opinion. He founded Pershing Square Capital Management with $54 million of his own money and now oversees $12.4 billion in assets. He’s also known to occasionally hire people without any traditional background in finance like a former fly fishing guide and a guy he met in a cab once.
7. Stephen A. Schwarzman, Blackstone Group
Chairman and CEO of the Blackstone Group, Stephen A. Schwarzman is an investor, private equity manager, and philanthropist. He attended Yale University and is part of the undergraduate senior secret society the Skull and Bones. Schwarzman has generated a fortune of $10.2 billion and now chairs President Trump’s Strategic and Policy Forum.
On his wrist: Although Schwarzman’s fortune gives him carte blanche to buy anything he wants, the CEO seems to stick to a flip phone and wears affordable Swatches like the Sistem51 which goes for about $150 a piece.
6. Sergio Ermotti, UBS Group AG
Sergio Ermotti has had a long career from Citibank to Merrill Lynch to UniCredit to president of Darwin Airline. In 2011, the Swiss-born banker appointed Group CEO of UBS in Switzerland. The company was restructured UBS Group AG but Ermotti retained his place as Chief Executive Officer and he has been called the most successful manager of a company listed on the Swiss Market Index.
On his wrist: Being from Switzerland it should come as no surprise that Ermotti sports a Swiss watch. The CEO of UBSGroup AG has been caught wearing a Rolex Daytona which can be purchased used for about $13,995.
5. Lloyd Blankfein, Goldman Sachs
Lloyd Blankfein has had a long history at Goldman Sachs. He joined the commodities trading firm J. Aron & Co. in 1982 which was later acquired by Goldman Sachs. Starting off as a precious metals salesman, he managed the Goldman Sachs Currency and Commodities Division before serving as vice chairman. In 2006 he replaced Henry Paulson to become CEO and Chairman of the company.
On his wrist: So what would one of the biggest investment bankers and CEO on Wall Street wear? If your guess is a simple Swatch with a plastic band then you are way better at this game than I am. You can pick one of those up for anywhere from $50 to $245 apiece.
4. Jeff Gundlach, DoubleLine Capital
Jeff Gundlach has been called the “King of Bonds” with good reason. He was head of the TCW Total Return Bond Fund where he oversaw $9.3 billion in assets. Of all funds invested in intermediate-term bonds for the 10 years, he finished in the top 2%. Before he was fired. He then founded DoubleLine Capital LP and his own personal net worth is estimated to $1.66 billion. Not bad.
On his wrist: Unlike other men on this list where some guesswork needs to be made we know exactly what Gundlach wears. His Santa Monica home was burgled September 2012 and a Police Department reports the following watches as missing: a Glashutte, Breitling, A. Lange & Sohne, TAG Heuer, and a Patek Philippe. That’s probably close to a cool $100,00 in wrist watches. Fortunately, the thieves were caught several weeks later.
3. Jack Bogle, Vanguard Group
Jack Bogle founded the Vanguard Group in 1974. It’s now one of the most successful and respected companies in the investment world. Bogle himself retired in 1996 due to heart problems.
On his wrist: A $14 watch. I’ll let him explain in his own words:
I received in the mail a wristwatch from a devoted shareholder in California. On the dial were printed our Vanguard logo, my name, and a phrase that was an indication I was still looking out for our shareholders: “Still on Watch.” It was also an outrageous pun: “Still on Watch.” Confident that it would be my rabbit’s foot, I put the watch on my wrist, where, having proved itself, it remains to this day. (Yes, I knew about the $50 limit on gifts. So I checked the catalog for the price. It was $14. Talk about value!).
2. Clifford Asness, AQR Capital
Clifford Asness co-founded AQR Capital Management in 1998. Based out of Connecticut, the firm manages a staggering $180.6 billion dollars as of December 31, 2016. It was based on the work he did at Goldman Sachs when he founded the Goldman Sachs Global Alpha Fund which was one of the first funds to use computer algorithms to buy and sell.
1. Jamie Dimon, JPMorgan Chase
Jamie Dimon is the chairman, president, and CEO of JPMorgan Chase, the largest of the “Big Four” American banks. He’s also served on the Board of Directors of the Federal Reserve Bank of New York and is one of the few bank chief executives to become a billionaire with $1.1 billion as of June 2015.
On his wrist: So what would the leader of the largest American bank wear? Nothing. Absolutely nothing. He apparently doesn’t care for jewelry of any kind and has never worn a watch.
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