Meet 10 money managers who quietly control the vast personal fortunes of Steve Cohen, Leon Black, the Waltons, and other big-name billionaires
Rebecca Carland, Walton Enterprises LLCThe Tufts graduate spent the first five years of her career traveling through Latin America with a unit of the US Department of Justice dedicated to promoting"the rule of law and regard for human rights by reforming foreign justice systems," according to the DOJ's website.
The younger Waltons have amassed real-estate holdings in their ancestral home of Bentonville, Arkansas. Steuart and Tom, grandsons of Sam Walton, have invested in AcreTrader, a farmland fractional-ownership startup, and own a controlling stake in the British cycling brand Rapha. Lukas Walton, another grandson, leads Builders Vision, an environmentally minded philanthropy and impact-investing firm.
Mousse works with external investment managers, but also directs its own investments in both private and public markets. Appropriately enough, many of its bets are in the beauty space. Mousse had a small stake in the retailer Ulta Beauty, and sold most of its shares in 2021 for returns of more than 1,700%,. It also cashed in on the 2021 IPO of Olaplex, but still holds a nearly 6% stake in the hair-care brand.
Stein was thinking about the next stage of his career when he was approached in 2016 to work for the Little Caesars Pizza founder, Marian Ilitch, and her husband, Mike, who has since passed away. The Ilitches, who also own MotorCity Casino Hotel and two Detroit sports teams — the Red Wings and the Tigers — needed a cohesive strategy for investing the returns from their numerous ventures.
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