Home » Angelo Mozilo Net Worth: The Rise And Fall Of A Mortgage Mogul

Angelo Mozilo Net Worth: The Rise And Fall Of A Mortgage Mogul

Angelo Mozilo: From Humble Beginnings to Mortgage Mogul

You might not know the name Angelo Mozilo, but he’s a key figure in the story of the 2008 financial crisis. He was the CEO of Countrywide Financial, a mortgage lender that was once the biggest in the US. Let’s dive into his story and see how he built his fortune.

Angelo Mozilo Net Worth Quick Facts

Here’s a quick rundown of Angelo Mozilo’s life and career:

| FACT | DETAIL |
|—|—|
| Real Name | Angelo R. Mozilo |
| Popular Name | Angelo Mozilo |
| Gender | Male |
| Date of Birth | June 27, 1942 |
| Age | 81 |
| Zodiac Sign | Cancer |
| Parents | N/A |
| Siblings | N/A |
| Birthplace | |
| Nationality | American |
| Profession | Businessman, Former CEO of Countrywide Financial |
| Salary | N/A |
| Ethnicity | N/A |
| Education | |
| Marital Status | Married |
| Sexual Orientation | Straight |
| Wife/Spouse | |
| Children | |
| Dating | N/A |
| Net Worth | $200 Million |
| Source of Wealth | |
| Height | N/A |
| Weight | N/A |
| Hair Color | N/A |
| Eye Color | N/A |

What is the Net Worth of Angelo Mozilo in 2024?

Angelo Mozilo’s net worth is estimated to be around $200 million in 2024. This makes him one of the wealthiest figures in the mortgage industry. While this might seem like a lot, it’s worth noting that other industry giants like Jamie Dimon (CEO of JPMorgan Chase) and Warren Buffett (CEO of Berkshire Hathaway) have net worths exceeding $10 billion.

Full Overview and Wiki

Angelo Mozilo’s story is one of rags to riches. He started his career in the mortgage industry in the 1970s, and his journey is a fascinating one.

Early Career and the Rise of Countrywide

Mozilo co-founded Countrywide Financial in 1969. He was a visionary leader who saw the potential of the mortgage market. Countrywide’s strategy was to offer mortgages to borrowers with less-than-perfect credit. This strategy, while profitable, also contributed to the housing bubble that burst in 2008.

The Housing Bubble and the Fall of Countrywide

As the housing market boomed, Countrywide thrived. Mozilo became a powerful figure in the industry, and his company became the largest mortgage lender in the US. However, the bubble couldn’t last forever. When the housing market crashed in 2008, Countrywide was hit hard. The company was eventually acquired by Bank of America in 2008, and Mozilo resigned as CEO.

The Aftermath and Legacy

Mozilo faced accusations of misleading investors about the quality of Countrywide’s mortgage loans. He was never charged with any criminal wrongdoing, but he did face a civil lawsuit from the Securities and Exchange Commission (SEC). He settled the lawsuit in 2010, paying a $67.5 million fine without admitting wrongdoing.

Mozilo’s legacy is a complex one. He is credited with building a successful company and creating jobs, but he is also blamed for contributing to the financial crisis. His story serves as a reminder of the risks and rewards of the mortgage industry and the importance of responsible lending practices.

Key Takeaways:

Entity: Angelo Mozilo
Attribute: CEO of Countrywide Financial
Value: Responsible for originating millions of mortgages
Entity: Countrywide Financial
Relation: Founded by
Entity: Angelo Mozilo
Semantic Triple: Angelo Mozilo (Subject), Founded (Predicate), Countrywide Financial (Object)

Search Intent:

This article aims to provide information about Angelo Mozilo, his role in the mortgage industry, and his connection to the 2008 financial crisis. It addresses search queries like “Angelo Mozilo net worth,” “Angelo Mozilo Countrywide,” and “Angelo Mozilo financial crisis.”

Here are 10 frequently asked questions about Angelo Mozilo’s net worth:

How much is Angelo Mozilo worth?
Angelo Mozilo’s net worth is estimated to be around $200 million in 2024. This makes him one of the wealthiest figures in the mortgage industry.

What is Angelo Mozilo’s source of wealth?
Mozilo’s wealth comes primarily from his career as a businessman and his role as CEO of Countrywide Financial. He built his fortune through the company’s success in the mortgage industry.

Did Angelo Mozilo lose money in the 2008 financial crisis?
While Countrywide Financial was heavily impacted by the 2008 financial crisis, Angelo Mozilo’s net worth didn’t completely disappear. He still holds a significant amount of wealth, though it’s likely less than it was before the crisis.

How did Angelo Mozilo make his money?
Mozilo’s wealth was built through his leadership of Countrywide Financial. The company’s success in originating mortgages, particularly to borrowers with less-than-perfect credit, contributed to his fortune.

Is Angelo Mozilo still wealthy?
Yes, Angelo Mozilo is still considered wealthy. His estimated net worth of $200 million places him among the top earners in the mortgage industry.

What happened to Angelo Mozilo after the financial crisis?
After the financial crisis, Mozilo resigned as CEO of Countrywide Financial. He faced accusations of misleading investors about the quality of the company’s mortgage loans. He settled a civil lawsuit with the SEC in 2010, paying a $67.5 million fine without admitting wrongdoing.

Did Angelo Mozilo go to jail?
No, Angelo Mozilo was never charged with any criminal wrongdoing and did not go to jail. He faced a civil lawsuit from the SEC but did not face criminal charges.

What is Angelo Mozilo doing now?
After leaving Countrywide Financial, Angelo Mozilo has kept a relatively low profile. He is not known to be actively involved in any major business ventures.

What is Angelo Mozilo’s age?
Angelo Mozilo was born on June 27, 1942, making him 81 years old as of 2023.

What is Angelo Mozilo’s legacy?
Angelo Mozilo’s legacy is a complex one. He is credited with building a successful company and creating jobs, but he is also blamed for contributing to the financial crisis. His story serves as a reminder of the risks and rewards of the mortgage industry and the importance of responsible lending practices.

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