Marty Whitman: Biography, Career, and Business Insights

Marty Whitman’s Profile Summary

Company	Third Avenue Management
Position	Founder and Co-Chief Investment Officer at Third Avenue Management.
Source of wealth	Management fees from Third Avenue Management, investment returns from Third Avenue Value Fund, proceeds from real estate and distressed asset investments, book royalties.
Also known as	Author, educator, philanthropist.
Years of life	30.09.1924 - 16.04.2018
Education	Syracuse University - Bachelor's degree in Business Administration, New School for Social Research - Master's degree in Economics.
Citizenship	United States
Residence	New York City, USA
Family	Marty Whitman was married to Lois Whitman, and they had three children and six grandchildren.
Website, Social Media	https://www.thirdave.com/

Marty Whitman’s biography

Marty Whitman (1924–2018) was an influential American value investor, known for his deep understanding of financial restructuring and distressed assets. Born in the Bronx, New York, he served in the U.S. Navy during World War II and later graduated from Syracuse University with a degree in business administration in 1949. Whitman began his career working for several investment firms in New York, gaining experience in the financial markets before founding M.J. Whitman & Co. in 1974, a broker-dealer firm. In 1986, he founded Third Avenue Management, where he developed a reputation for investing in undervalued companies with strong balance sheets, often during periods of financial distress. Whitman was an outspoken critic of Generally Accepted Accounting Principles (GAAP), advocating instead for a focus on long-term value creation. Beyond his business success, he was also a dedicated educator, teaching at Yale School of Management for over three decades. He published several books on investing, including Value Investing: A Balanced Approach and The Aggressive Conservative Investor. Marty Whitman passed away in 2018 at the age of 93, leaving behind a legacy as a pioneer in value investing.

How did Marty Whitman make money?

Marty Whitman makes money in the following areas:

Management fees from Third Avenue Management, investment returns from Third Avenue Value Fund, proceeds from real estate and distressed asset investments, book royalties.
What is Marty Whitman net worth?

As of 2025, there is no publicly available and reliable information regarding Marty Whitman’s net worth.

What is Marty Whitman also known as?

Marty Whitman was also recognized as an author, having published several important books on investing, including Value Investing: A Balanced Approach and The Aggressive Conservative Investor. These works have influenced both novice and seasoned investors with their focus on value investing principles. Additionally, he was an educator who taught at Yale School of Management for over 30 years, sharing his expertise in value investing and financial restructuring with future business leaders. He was also a philanthropist, known for his significant donations to Syracuse University, which named its School of Management after him in recognition of his contributions. He also supported scholarships for Arab-Israeli students at Tel Aviv University.

Prominent achievements of Marty Whitman

Marty Whitman founded Third Avenue Management and grew its Value Fund to manage $3.2 billion, authored several influential books on value investing, including The Aggressive Conservative Investor and Value Investing: A Balanced Approach, served as a professor at Yale School of Management for over 30 years, donated $23 million to Syracuse University, which renamed its business school in his honor, recognized for his philanthropy, particularly in supporting Arab-Israeli students at Tel Aviv University

What are Marty Whitman’s key insights?

Marty Whitman’s business philosophy was grounded in value investing, with a focus on buying undervalued companies with strong financials, particularly those in distressed situations. He emphasized the importance of a company's balance sheet over short-term earnings and was highly critical of Generally Accepted Accounting Principles (GAAP), arguing they often provided a misleading picture of a company’s long-term potential. Whitman believed in a disciplined approach to investing, focusing on assets that were often overlooked by others and prioritizing long-term value creation over speculation. He also advocated for government intervention when necessary, especially in financial restructuring

Marty Whitman’s personal life

Marty Whitman's wife, Lois Whitman, is an attorney and social worker who founded the Children’s Rights Division at Human Rights Watch. They had three children: Barbara Whitman, a Tony Award-winning Broadway producer; James Whitman, a professor at Yale Law School; and one other child whose information is less publicly available. The family also included six grandchildren. Marty Whitman was known to keep his family life private, avoiding public exposure for them

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