Victor Zollo Net Worth: Estimate, Sources, and Updates

Victor A. Zollo Jr. is a co-founder, co-CEO, and principal at DePrince, Race & Zollo, Inc. (DRZ), a Winter Park, Florida-based investment advisory firm he helped establish in April 1995. Based on publicly available evidence about DRZ's size, fee structure, and ownership, a reasonable net worth estimate for Victor Zollo falls in the range of $10 million to $40 million, with the midpoint probably somewhere around $15 to $25 million. That is a wide band, and it has to be, because no personal financial disclosures exist for him. Everything below explains how that range is built and where the real uncertainty lives.

Who is Victor Zollo?

Victor Anthony Zollo Jr. is a career investment professional based in Florida. He co-founded DePrince, Race & Zollo, Inc. alongside Gregory M. DePrince and John D. Race in 1995, and he has served as a principal, president, and co-CEO of the firm ever since. Before DRZ, he was a director and partner at SunBank Capital Management, where he led marketing, sales, and client service. His educational background, per Equilar's executive profile database, includes a B.A. in Economics from Rollins College. He also received the AIMSE Lothrop Award in 2004, which is given by the Association of Investment Management Sales Executives for excellence in the field.

He is consistently identified in SEC filings, pension fund meeting materials, and firm disclosures as one of three people who substantially own DRZ. Jacksonville pension fund materials confirm that Race and Zollo serve as co-CEOs. A 2013 SEC proxy filing lists him as a member of DRZ's proxy voting committee. A Texas Attorney General open records opinion from 2010 and an Alaska Retirement Management Board packet from 2011 both name him in an official capacity tied to DRZ. In short: this is not a public celebrity, but he is a well-documented figure in the institutional investment world.

The reason people search for his net worth is straightforward: DRZ manages billions of dollars, and Zollo is one of the three people who own it. That naturally raises the question of what his personal slice is worth. If you are trying to understand victor liz net worth, the key is separating DRZ’s client assets from his personal equity stake and long-term distributions what his personal slice is worth. Because DRZ is privately held and there are no personal disclosures, estimates of Victor Lazarte net worth usually use similar public-record methods. He does not appear on celebrity net worth lists, and there is no Wikipedia page for him, which means searchers end up here trying to piece together an estimate from professional sources. If you are also trying to compare this with other investor profiles, you may want to look at Victor Pisano net worth figures as well.

Net Worth Estimate: The Range and What It Means

Net worth, as used here, means total assets minus total liabilities. That includes ownership stakes in businesses, investment accounts, real estate, and any other holdings, minus debts like mortgages or other obligations. It does not mean annual salary or revenue generated by DRZ. Those are income figures, not wealth figures, though income over time is obviously how wealth accumulates.

These ranges are estimates, not verified figures. Victor Zollo is not a publicly traded company executive required to disclose compensation, and no personal tax returns or financial statements are publicly available. The numbers above are built from known proxies: AUM size, typical fee structures at registered investment advisers, and the likely value of a minority principal stake in a firm of DRZ's scale. Anyone presenting a single precise number for his net worth is overstating what the public record actually supports.

How the Estimate Is Actually Calculated

DRZ's Form ADV Part 1 (March 2025) confirms the firm managed $5.490 billion on a discretionary basis for approximately 65 clients as of December 31, 2024. As of March 31, 2026, a separate data provider puts that AUM figure at $5.894 billion. Institutional investment advisers typically charge fees in the range of 0.20% to 0.60% of AUM for institutional equity strategies, depending on mandate size and strategy type. If DRZ earns even a conservative blended fee of 0.35% on $5.5 billion, that is approximately $19.25 million in gross annual revenue for the firm.

A third-party revenue estimator (Growjo) puts DRZ's annual revenue at roughly $6.9 million, which is likely low and reflects only a narrow slice of the business or uses a different methodology. For modeling purposes, the actual gross revenue is probably somewhere between $12 million and $22 million annually, depending on the fee mix across strategies.

From that revenue, the firm pays staff, operations, technology, compliance, and other overhead. Net operating income that flows to the three principals is meaningfully lower than gross revenue. If we assume a profit margin of roughly 30% to 50% (reasonable for a well-established boutique adviser) and divide by three principals, Victor Zollo's annual income from DRZ distributions could plausibly range from $1.5 million to $4 million per year. Multiplied across 30 years of operation, with conservative assumptions about taxes, spending, and investment returns, an accumulated net worth in the $15 to $25 million range is reasonable. The upside scenario assumes his equity stake in the firm itself carries significant value on top of annual distributions, which is plausible but unconfirmed.

Career and Economic Timeline

1. Pre-1995: Director and partner at SunBank Capital Management, responsible for marketing, sales, and client service. SunBank was a significant regional institution, and this role would have provided a professional platform and likely a six-figure income base.
2. April 1995: Co-founds DePrince, Race & Zollo, Inc. in Winter Park, Florida. This is the key wealth-building event. As a founding principal, Zollo holds equity in the firm from day one.
3. 2004: Receives the AIMSE Lothrop Award, signaling industry recognition and reinforcing his client-facing and business development role at DRZ.
4. 2006: DRZ manages approximately $5.01 billion in assets as of June 30, per an SEC EDGAR archival filing. This indicates the firm had already reached significant scale within its first decade.
5. 2010–2011: Named in official institutional records including a Texas AG open records opinion and an Alaska ARMB board packet, with DRZ assets cited at roughly $6.0 billion across disciplines.
6. 2013: Listed as a member of DRZ's proxy voting committee in an SEC EDGAR filing.
7. 2018–2019: Named in AIMSE conference program materials as a speaker or participant, reinforcing continued active industry engagement.
8. March 2025: DRZ's Form ADV Part 2B and Part 1 filings confirm Zollo remains a principal, president, and co-CEO, with a start date of March 1995 listed in the ADV.
9. December 2024 / March 2026: AUM confirmed at $5.49 billion (end of 2024) and approximately $5.894 billion (Q1 2026), indicating stable and growing firm assets under Zollo's continued leadership.

Public Records and Evidence You Can Actually Cite

The strongest evidence base for building a Victor Zollo net worth estimate comes from SEC regulatory filings. Those same publicly supported sources are what this article uses to build a Victor Lupis net worth estimate. Form ADV documents filed with the SEC by DePrince, Race & Zollo, Inc. are publicly accessible through the SEC's IAPD (Investment Adviser Public Disclosure) database. The March 2025 ADV Part 1 lists 'ZOLLO, JR., VICTOR, ANTHONY' as a principal with a start date of March 1995. The March 2025 ADV Part 2B includes biographical and conflict-of-interest disclosures relevant to Zollo. These are primary source documents with defined legal filing obligations, which makes them the most reliable data points available.

SEC EDGAR archived filings corroborate the firm's founding by three principals, including Victor A. Zollo Jr., and provide historical AUM snapshots going back to at least 2006. Institutional meeting materials from the City of Jacksonville Police and Fire Pension Fund and the State of Alaska ARMB independently confirm his co-CEO title and founding role. The AIMSE Lothrop Award documentation from 2004 provides a third-party professional record. Florida's Sunbiz entity search can surface any Florida-registered business entities connected to 'Zollo, Victor A, Jr.' beyond DRZ, though individual entity pages need to be checked directly for specifics.

What you cannot use as reliable sources for his personal net worth: DRZ's 13F institutional holdings filings (these show what funds DRZ manages for clients, not what Zollo personally owns), third-party revenue estimators like Growjo (these are modeled figures, not audited financials), and general celebrity net worth aggregator sites (none have documented methodology for a figure like Zollo's). GuruFocus and Fintel data on DRZ holdings activity, while useful for tracking firm-level behavior, similarly cannot be extrapolated to personal wealth.

What Could Change the Number

Several developments could move Victor Zollo's estimated net worth meaningfully in either direction. On the upside: if DRZ's AUM continues growing past the $5.9 billion mark confirmed in early 2026, firm revenue and distributions increase proportionally. Any partial or full sale of DRZ to a larger asset manager or private equity buyer would likely represent the largest single wealth-creation event in Zollo's career, similar to what has happened at other boutique investment advisers acquired in the active management consolidation wave of the past decade. Personal investment performance, particularly if Zollo applies DRZ's own micro-cap value strategies to his own portfolio, could also amplify the number.

On the downside: a sustained outflow of institutional client assets (which can happen if DRZ's performance lags benchmarks or if a key client relationship ends) would compress firm revenue and distributions. Any departure of a founding partner could trigger ownership restructuring. Legal or regulatory issues at the firm level would appear in updated ADV filings and could affect firm valuation. There is no current public evidence of any of these negative scenarios, but they are the standard risk factors for a privately held adviser.

Personal financial events like real estate purchases or sales in Florida, which are often publicly recorded, could also provide updated data points. Florida Sunbiz filings and county property appraiser records are worth checking periodically for anyone trying to track changes in his asset base.

Common Misconceptions and How to Verify

The most common error is confusing Victor Zollo with other public figures named Victor or Viktor. This site covers a range of individuals sharing those names across sports, entertainment, and business. Victor Zollo the investment professional is not a musician, athlete, or entertainer. If a net worth figure you find elsewhere places him in a context unrelated to institutional investment management in Florida, it is almost certainly a different person or a fabricated number. The DRZ connection is the definitive identifier: if a source does not mention DePrince, Race & Zollo, Inc. or the Winter Park, Florida advisory firm, treat it with skepticism.

Another common mistake is conflating DRZ's assets under management with Victor Zollo's personal wealth. Managing $5.9 billion in client assets does not mean the firm, or its principals, are worth $5.9 billion. Those are client assets held in custody. The firm earns fees on those assets, and the principals own equity in the fee-generating business, which has an entirely different (and much smaller) valuation. A private RIA managing $5 billion might be worth $20 to $50 million as a business, depending on profitability and growth. Zollo's share of that business value is one component of his net worth among several.

Estimates on aggregator sites tend to be rounded aggressively and often go stale. A figure published in 2020 is not reliable in 2026 without verification of what has changed. The most current primary sources are the SEC IAPD database (for ADV filings updated annually), SEC EDGAR (for any fund-level disclosures), and Florida public records. For ongoing tracking, checking DRZ's ADV annually after its typical March filing date is the most reliable method.

For readers who arrived here after looking into other business figures in this space, the same methodology applies across similar profiles. The principles for estimating the net worth of a privately held investment firm principal, whether it is Victor Zollo or others researched on this site, remain consistent: AUM times estimated fee rate, adjusted for operating margin, ownership percentage, tenure, and personal investment history. The variables differ, but the framework is the same.