A
Chairman, CEO
loanDepot
THE NUMBERS: Since founding in 2010, loanDepot has generated more than $275 billion in loans and now has 10,000+ employees.
THE ENTREPRENEUR: Became owner of a mortgage company at age 25 when he bought out owners and renamed firm loandirect.com, which he said was the world’s first internet-based financial services company. He sold it in 2001 to E-Trade Financial Corp. for shares worth about $51.5 million. At 35, he had every intention of retiring and spending his time fishing, a life-long passion. Instead, founded HomeLoanCenter.com, selling it for an undisclosed price to IAC/Interactive Corp., which merged it into LendingTree. After a non-compete clause ended in 2010, he started loanDepot as “a way to do something.”
BOOMING BUSINESS: In 2015, Hsieh withdrew a potential public offering at the last minute, not satisfied with the price he was getting. He kept spending, investing $400 million-plus to build a technology system that the company calls mello, so as to differentiate his firm from other mortgage lenders that aren’t highly regarded on Wall Street (see page 10).
THE IPO: Pulled the trigger on IPO (NYSE: LDI) in February after a record year, thanks in part to decline in interest rates. His 39% stake in the company is now worth about $1.5 billion. Holds 61% of the voting power in the company post-IPO.
RECORD BREAKER: Paid $61 million last October for a mansion in Crystal Cove. It’s the most paid for an OC home. Last month, reported to have paid $25 million for another home in Henderson, Nev., also a record price paid for that area.
PHILANTHROPY: Hosts War Heroes on Water tournaments, which takes wounded military members on a fishing tournament on yachts—including his own—around Catalina Island. Giving has been on upswing over the past few years. Fiercely patriotic, Hsieh is a first-generation American, born in Taiwan. He emigrated to the U.S. with his family as a young child.
Anthony Hsieh owns multiple sports fishing yachts, including the Bad Company 144, described on the War Heroes on Water website as “one of the largest sportfishers in the world. Adds SuperYachtTimes: “She cruises at 23 knots and reaches a top speed of 26.0 kn. She can sleep up to 12 guests taken care of by a crew of 7.” It is not reported to be available for charter.
• NET WORTH: $2.9 billion
• LAST YEAR: $2.3 billion
• AGE: 56
• RESIDENCE: Newport Beach
• SOURCE OF WEALTH: loanDepot, prior businesses
