Mario Gabelli, chairman and chief executive officer of Gamco Investors Inc., center, during a shareholders shopping day ahead of the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., on Friday, April 29, 2022. After hanging in the shadows for most of the pandemic, Warren Buffet and his deputies have been ramping up Berkshire Hathaway Inc.s acquisition machine — snapping up shares of Occidental Petroleum Corp. and HP Inc. and striking an $11.6 billion deal to buy Alleghany Corp. Photographer: Dan Brouillette/Bloomberg via Getty Images
The old cynical adage that the best way to end up with a small fortune in the stock market is to start with a large fortune does not apply to Mario J. Gabelli, who came from modest means but after more than 55 years as a professional investor has a net worth of US$1.7 billion.
Born in the Bronx to an Italian immigrant family who lived in an apartment above a delicatessen, Gabelli, 80, learned the value of hard work and education from his parents, neither of whom had gone to school beyond sixth grade. Gabelli’s enterprising spirit was evident from a young age, and so was his propensity to excel in Catholic private schools.
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