An interest in finance drove this Army veteran to take a chance in the stock market. And Bill Miller's intuition was right on the money. His unbeatable fund management strategies made him a legendary investor. This story proves anyone can beat the odds to build an unfathomable fortune.
Discover how diverse investments and calculated risk-taking made Bill Miller's net worth skyrocket. Learn everything you need to know about Bill Miller, including his investment advice, charitable donations, cryptocurrency holdings, and how he became a billionaire.
Plus, learn how you can build your own 7-figure net worth for FREE!
|Bill Miller Net Worth:||$1.8 billion|
|Real Name:||William H. Miller III|
|Year of Birth:||1950|
|Birthplace:||Laurinburg, North Carolina, USA|
|Companies:||Founder of Miller Value Partners|
|Source of Wealth:||Fund Manager and Bitcoin Investor|
|Best-Known For:||Beating the S&P 500 Consecutively from 1991-2005|
How much is Bill Miller's net worth?
Bill Miller is an investor with a net worth of $1.8 billion. His diverse portfolio includes managed funds, individual stocks, and cryptocurrency holdings.
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Who is Bill Miller?
Bill Miller is an uber-wealthy investor and fund manager. He was born in 1950 in Laurinburg, North Carolina. Although he's rich today, his parents raised him in a typical middle-class household. His father worked for a local trucking company as the terminal manager.
Miller graduated from Miami Palmetto Senior High School in 1968. He went on to study at Washington and Lee University, graduating with honors in 1972 with a degree in economics.
Instead of jumping into the corporate world, Miller joined the U.S. Army, serving from 1972-1975. After leaving the military, he pursued a Ph.D. in philosophy from Johns Hopkins University.
Finance and Investing Career
Passionate about finance, Miller started looking for work in the industry. A part-time accounting position eventually led to a more lucrative offer at J.E. Baker Company, where he served as treasurer.
In 1981, Miller became a security analyst at Legg Mason Capital Management Inc. This was a critical move for him. He said, "My net worth was negative [before joining Legg Mason], and I was making $39,000 a year."
Miller quickly earned a CFA designation and began running the Legg Mason Value Trust mutual fund. The fund set records under his management. For nearly 15 consecutive years—from 1991 to 2005—he beat the S&P 500. This success boosted Bill Miller's net worth tenfold.
In 1999, Miller founded Miller Value Partners, his own investment firm.
And It All Came Crashing Down
Miller's investment strategies seemed untouchable. But even he wasn't immune from the 2008 financial crisis. As the stock market plummeted, so did the net worth of Bill Miller. He lost an estimated 90% of his wealth.
Most people never recover from losses that big, but Bill Miller became more determined than ever to rebuild. He filled his portfolio with seemingly risky investments—Amazon and Bitcoin. And those bullish decisions paid off.
Today, the savvy fund manager is worth billions. And he no longer enjoys his wealth alone, marrying for the second time in 2022. Bill Miller's wife, Heather Miller, is also an accomplished investor.
What are the sources of Bill Miller's wealth?
How does one become a billionaire? Here's a glimpse into Bill Miller's sources of wealth:
1. Stock Market Investments
During the dot-com bubble, Miller placed a bet on Amazon. He got in while the stock was less than $40 per share. Today, Amazon makes up 3.64% of Miller's portfolio.
2. Luxury Dollar Yachts
Bill Miller owns a yacht named Utopia worth $100 million. The 71-meter craft can accommodate 12 guests and 18 crew members.
3. Bitcoin Holdings
Miller was an early adopter of cryptocurrency. He first purchased Bitcoin when it was only $200 per coin. (As of April 2023, Bitcoin is trading at $29K per coin.) And he remains bullish on cryptocurrency. Crypto makes up 50% of his investment portfolio.
4. Real Estate Holdings
In 2017, Bill Miller invested in the most unlikely real estate—shopping malls. He agrees that Amazon changed the desire for traditional retailers. But he saw the venture as a surefire bet, stating, "Dividends are likely safe for the foreseeable future." He expects an impressive ROI as firms use excess cash flow to redevelop properties.
5. Aviation Collection
Bill Miller is the co-owner of a Bombardier Challenger 350 private jet worth upwards of $27 million.
How much is Bill Miller's net worth?
Although his personal finances aren't public, many analysts estimate Bill Miller's net worth 2022 and 2023 to be $1.8 billion!
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What companies is Bill Miller an investor in?
Bill Miller's stock portfolio is very diverse. His top holdings include:
- OneMain Holdings
- Expedia Group
- Taylor Morrison Home Corp.
- Delta Airlines
- Teva Pharmaceuticals
How has Bill Miller's portfolio performed?
Bill Miller speaks very little about his private portfolio, but he does focus on long-term investments. As a fund manager at Legg Mason, he beat the S&P 500 for 15 straight years!
What is Miller Value Partners?
Miller Value Partners is an investment management firm founded by Bill Miller in 1999. The company provides investment services for various high-net-worth clients and private funds.
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How has Bill Miller's investment in cryptocurrencies impacted his net worth?
Bill Miller invested in Bitcoin before it became a household name. He initially bought in at $200 per coin, and his average price-per-coin remains at $500. When Bitcoin prices "went to the moon," Miller earned his billionaire status.
What is the size of Bill Miller's yacht?
Utopia is 71 meters in length and reaches a top speed of 16 knots.
Where did Bill Miller go to school?
Miller earned his undergraduate degree in economics from Washington and Lee University. He went on to study philosophy at Johns Hopkins University.
What charitable donations has Bill Miller made?
He donated $75 million to philosophy departments at Johns Hopkins University in 2018. And in 2021, he donated another $50 million to the school's physics and astronomy department.
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How old is Bill Miller?
Bill Miller’s age is 73.
What investment advice has Bill Miller given?
As a value investor, Miller recommends choosing stocks that appear underpriced but that you believe have a higher intrinsic value.
Bill Miller is a billionaire with a net worth of $1.8 billion. His winning stock streak earned him the nickname "Fund Manager of the Decade." And even after losing it all, he jumped back into the game, diversifying his portfolio to include individual holdings and cryptocurrency. With his proven investment strategies, one can only assume his net worth will continue climbing.
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