Richard B. “Rich” Handler was born on May 23, 1961, and is a very important person in the finance world. He is known as the longest-serving CEO on Wall Street. Handler has turned Jefferies Financial Group from a small trading company into a global investment banking powerhouse since he took over in 2001. His leadership, which included strategic foresight, resilience, and an unusual approach to corporate culture, has not only changed Jefferies but also set a new standard for what it means to be a CEO in the modern financial world. This article goes into detail about Handler’s career, how he affected Jefferies, his personal beliefs, and his larger contributions to society and philanthropy.
The Beginning of His Life and Career
Rich Handler grew up in Montvale, New Jersey, where he was the son of Alan and Jane Handler. This is where he started his journey to becoming a billionaire CEO. He faced problems in his early life that would later shape his caring leadership style. Handler wrote on Instagram in 2022 that being small in high school made him a target for bullying and kept him off sports teams. These experiences made him “tough, empathetic, determined, and a fan of the underdog.” During these important years, he developed a strong desire to prove himself and a strong commitment to helping others who are going through hard times.
Handler has a lot of impressive academic credentials. He got a BA in economics from the University of Rochester in 1983, graduating magna cum laude. He then got an MBA from Stanford University in 1987. He started his career as an investment banker at First Boston, then moved to Drexel Burnham Lambert’s high-yield bond department, where he worked for the famous Michael Milken. He learned a lot from working in the fast-paced, high-stakes world of finance, which helped him get ready for his important job at Jefferies.
Joining Jefferies and Changing It
In 1990, Handler started working for Jefferies as a salesman and trader. At the time, the company was mostly known for its work in the energy sector. His rise was quick, thanks to his strong work ethic and strategic mind. He was named CEO on January 1, 2001, taking over for Frank E. Baxter. In 2002, he became Chairman. At the time, Jefferies was a respected but not very big player in the financial world. It would change a lot under Handler’s direction.
One of Handler’s biggest successes was turning Jefferies into a full-service, global investment bank that could compete with big names like Goldman Sachs and Morgan Stanley. By 2022, Jefferies was the 8th largest investment bank in terms of revenue and the 6th busiest in terms of mergers and acquisitions. Strategic moves, like the 2012 merger with Leucadia National Corporation, Jefferies’ biggest shareholder, helped this growth. Handler became the CEO of both companies after the merger was finished in March 2013. In 2018, Leucadia changed its name to Jefferies Financial Group to better reflect its focus on financial services.
Handler has been known for being able to handle crises well during his time in office. He played a key role in saving Knight Capital Group after a technology problem cost the company $440 million in August 2012. Handler worked with Brian Friedman, the President of Jefferies Financial Group, to put together a deal that made Jefferies the largest shareholder in Knight Capital, which helped the company stay stable. He was able to help financial services companies get back on their feet, so he offered to meet with FTX’s Sam Bankman-Fried in July 2022, but the meeting never happened.
How They Lead and How They Act in Public
Handler has built a unique and friendly public image that is different from the typical Wall Street CEO who is always buttoned up. He is active on Instagram and X (@handlerrich) and often shares personal stories about finance, mentorship, and work-life balance. His posts include both serious advice for work and fun looks into his life, like jumping on a mini-trampoline or playing Call of Duty with his son. Handler’s honesty about his weaknesses, like how hard high school was for him, strikes a chord with his 48,000 Instagram followers, making him a minor social media star.
Handler’s way of leading focuses on understanding, mentoring, and finding a balance. He says that setting limits is important to avoid burnout. In an Instagram post from 2024, he said, “There are always times when sacrifices must be made…” But guess what? The world will keep going around if you find the right amount of personal balance. This way of thinking is shown in how he runs Jefferies, where he tells workers to put their families and health ahead of their work. Handler talked about how important mentorship is in a LinkedIn conversation in 2021. He said, “The right message at the right time can really change someone’s growth trajectory in a remarkable way.”
His unusual way of doing things also shows in his work choices. Handler made news in April 2024 when he sold $65 million worth of Jefferies stock to buy a 164-foot yacht from billionaire Tilman Fertitta. This was his first sale in 34 years at the company, other than for tax or charitable reasons. He called the yacht, which he renamed NIGHT HOWL in honor of his wife’s work with the Wolf Conservation Center, “a gift to myself and my family.” Handler said he was still very positive about Jefferies and was “fully committed to helping us continue to build the best independent, global, and full-service investment banking firm.”
Money Success and Pay
Handler’s stake in Jefferies has a lot to do with how well he does financially. His net worth is thought to be around $1.2 billion as of July 2025. This is mostly because he owns about 16.36 million shares, which are worth more than $944 million. His pay shows how important he is to Jefferies. He made $26.1 million in 2023, which included a $1 million salary, a $8.4 million bonus, and $16.3 million in stock awards. His pay in 2018 was $44.7 million, which made him the highest-paid CEO of any New York-based S&P 500 company that year.
Handler’s wealth has also allowed him to make big personal investments, like buying a yacht, which caused some controversy but also showed how committed he is to Jefferies in the long run. He said that 70% of his pay since 1990 has been in company stock, which shows how much he cares about the company’s success.
Giving to charity and making a difference in the world
Handler and his wife, Martha Hunt Handler, are dedicated philanthropists in addition to being wealthy. They set up the Jane and Alan Handler Scholarship Fund at the University of Rochester in 2006. It is named after Handler’s parents. The program helps college students from different backgrounds who need money, show leadership, and are tough. It pays for full tuition and living expenses for 1% of each graduating class. As of 2023, 161 students have taken advantage of the program. Handler has been involved with the University of Rochester since 2018, when he became Board Chair. However, he was criticized in 2025 for allegedly helping to break up a PhD student strike.
The Handlers are also very interested in protecting the environment, especially through the Wolf Conservation Center, where Martha is president. Their support for protecting wolves shows that they care about teaching people about wildlife and making the community better.
Problems and arguments
There have been problems during Handler’s time in office. The 2025 University of Rochester controversy, when people booed him at a graduation ceremony because of labor disputes, showed how hard it was for him to balance his business and academic roles. Some people also questioned the optics of a CEO selling stock to buy a yacht, which drew attention to his yacht purchase. Some people were still critical of Handler, but his openness about the sale and his continued faith in Jefferies helped to ease some of that criticism.
The Past and the Future
Rich Handler’s legacy at Jefferies is one of change and strength. The company has become a global competitor under his leadership, able to handle economic downturns and changes in the industry with ease. His own story, from being bullied in high school to becoming a billionaire CEO, is a great example of the underdog spirit he stands for. Handler’s focus on mentoring, work-life balance, and giving back to the community makes sure that his influence goes beyond finance as he continues to run Jefferies.
Handler is still fully committed to Jefferies in the future. His July 2024 X post celebrated the company’s stock reaching an all-time high, which shows how hopeful he is about its future. Rich Handler is going to keep changing the financial world for years to come because he has a unique mix of strategic vision, empathy, and nontraditional leadership.
