Entrepreneurs

Financier Anthony Scaramucci is Trump's new communications director—here's how he made his millions

Anthony Scaramucci answers reporters' questions during the daily White House press briefing in the Brady Press Briefing Room at the White House July 21, 2017 in Washington, DC.
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Anthony Scaramucci answers reporters' questions during the daily White House press briefing in the Brady Press Briefing Room at the White House July 21, 2017 in Washington, DC.

Anthony Scaramucci has been named the director of communications for the White House, a move that reportedly prompted White House press secretary Sean Spicer to submit his resignation.

So who is Anthony Scaramucci?

Scaramucci, 53, was appointed to be one of 16 members of then President-elect Trump's Presidential Transition Team Executive Committee in November.

Before being called to the political sphere, though, he was a hedge-fund financier and entrepreneur two times over.

In 2011, he was named the Ernst & Young Entrepreneur Of The Year in the financial services category for his innovation as a founder of SkyBridge Capital.

When he received the award, Scaramucci said he was committed to fostering entrepreneurship.

"I remain committed not only to building SkyBridge and making a mark on the financial community through the firm, but to fostering the next generation of entrepreneurs through other personal and professional endeavors," he said in a statement.

SkyBridge Capital, founded in 2005, is a hedge fund with $11.4 billion in assets under management, according to the company's website.

In January, Scaramucci sold his stake in the hedge fund to Washington, D.C.-based RON Transatlantic Advisors and HNA Capital of New York. The deal (which is expected to close this summer) values SkyBridge Capital at $200 million, according to The Wall Street Journal, though Scaramucci's percent ownership of SkyBridge Capital is not clear.

SkyBridge was not Scaramucci's first entrepreneurial venture. He was also the co-founder of financial services company Oscar Capital Management, which he sold to financial services company Neuberger Berman, LLC in 2001.

Scaramucci also worked at Lehman Brothers, Goldman Sachs and Neuberger Berman, according to his LinkedIn profile. At Goldman Sachs, he was a vice president in private wealth management.

He graduated from Harvard Law School and got his undergraduate degree from Tufts.

In addition to launching and running financial services companies, Scaramucci is an author. He wrote "The Little Book of Hedge Funds," "Goodbye Gordon Gekko" and "Hopping Over the Rabbit Hole."

Scaramucci is a former CNBC contributor.

See also:

Trump advisor Scaramucci sells his hedge fund business

Sean Spicer resigns as White House press secretary after objecting to Scaramucci hire

Trump wants Scaramucci to be White House communications chief, but top staff pushes back