| Category | Information |
|---|---|
| Net Worth | $600 million |
| Salary | N/A |
| Birthdate | November 29, 1938 |
| Birthplace | The Bronx, New York |
| Gender | Male |
| Height | N/A |
| Profession | American executive, former chairman and CEO of Countrywide Financial |
| Nationality | American |
What is Angelo Mozilo’s Net Worth?
Angelo Mozilo, the former chairman and CEO of Countrywide Financial, had a net worth of $600 million at the time of his death in July 2023.
Highlights
- Net worth of $600 million
- Former chairman and CEO of Countrywide Financial
- Served as CEO until July 1, 2008
- Earned hundreds of millions of dollars in compensation
- Sold at least $400 million worth of shares
- Pioneer in the non-bank mortgage industry
- Countrywide’s growth led to being the largest mortgage lender in the nation
- Significant controversy and legal proceedings surrounding subprime mortgage crisis
- Lifetime ban from serving as an officer or director of any public company
Early Life
Angelo Mozilo was born on November 29, 1938, in the Bronx, New York. He grew up in a first-generation Italian-American family and was greatly influenced by his parents’ struggles as immigrants. Their experiences instilled in him a strong work ethic and a deep commitment to providing opportunities for homeownership to underserved communities.
After graduating from Fordham University in 1960 with a degree in economics, Mozilo entered the mortgage industry, beginning his professional journey.
Career
In 1969, Angelo Mozilo and his business partner David Loeb founded Countrywide Credit Industries, which would later become Countrywide Financial Corporation. Starting as a two-person operation, Mozilo focused on simplifying mortgage lending and making homeownership more accessible to Americans.
Countrywide’s growth was remarkable, eventually leading it to become the largest mortgage lender in the nation. The company received acclaim for its advancements in computerized loan processing and played a pivotal role in creating a secondary market for mortgages by selling loans to government-sponsored entities like Fannie Mae and Freddie Mac.
Personal Life
Details about Angelo Mozilo’s personal life are limited in the available information.
Net Worth Over Time
Angelo Mozilo’s net worth reached $600 million at the time of his death in July 2023. His wealth was primarily accumulated during his time as the CEO of Countrywide Financial, where he earned substantial compensation and generated significant profits from selling shares.
Components of Net Worth
Angelo Mozilo’s net worth consisted of various assets, including financial investments, real estate, and other properties. Additionally, his net worth might have included personal possessions and other valuable assets.
Disclaimer: All net worths provided are estimates based on publicly available information. While the utmost effort has been made to ensure accuracy, any figures should be regarded as approximations. Corrections and feedback are welcome to improve accuracy.