Douglas Hodge Net Worth: Douglas Hodge is a former CEO of Pacific Investment Management Company in the US. Douglas Hodge’s net worth is expected to be $80 million in 2021.
Early Life of Douglas
Hodge was born in New York City in 1957 and grew up in the Boston suburbs and Connecticut. He attended Dartmouth College, where he graduated with a BA in Economics in 1979. In 1984, he earned his Master of Business Administration from Harvard Business School.
Douglas Hodge Net Worth & Career
Hodge spent five years as a bond trader at Salomon Brokers after graduating from Harvard Business School. He then joined the Pacific Investment Management Company in 1989. (PIMCO). He began his career with the organization as a senior account manager and global product manager. In 2002, he was appointed Asia-Pacific Regional Manager, and in 2009, he was named Chief Operating Officer.
From 2009 to 2014, Douglas Hodge was the chief operating officer. He was appointed Chief Executive Officer of PIMCO in 2014. Only in 2014 was it announced that he earned a $45 million annual bonus.
Hodge was also a member of PIMCO’s executive committee and Allianz Asset Management’s global executive committee. He was also a member of the Securities Industry and Financial Markets Association’s executive committee and served on the board of directors.
Douglas Hodge and Guilty of Fraud
In March of 2019, Hodge appeared in the US Federal District Court in Boston to face charges of mail fraud and honest services fraud, asserting that he allegedly paid over a half a million dollars in bribe so that three of his children would get admission into Georgetown University and the University of Southern California. He was released on a $500,000 bond. In February 2020, he was sentenced to nine months in federal prison for his involvement in the 2019 college admission bribery scandal.
Douglas Hodge Net Worth
Despite all of the fraud, it is speculated that he still has maintained a large portion of his wealth. With the report that in 2014, he had received an annual bonus of $45 million alone, it is highly possible that he is close to nearly $80 million of net worth. Douglas Hodge, former CEO of PIMCO, has a net worth of over $80 million.