Bruce Sherman

Bruce Sherman is an investor and currently the majority owner of the Miami Marlins. His rise from humble beginnings in Queens, New York, to owning a Major League Baseball team is a story of smart decisions, calculated risks, and tremendous work ethic.

Early Life in Queens

Bruce Sherman was born in Auburn, New York, in 1948. He was raised in a middle-class neighborhood in Queens, which did much to shape Sherman’s character. His father worked as an engineer, and his mother, after raising three boys, earned a master’s degree and spent two decades teaching in New York public schools, which Sherman always admired.

Sherman recalls that she “never had a bad word to say about anyone.” Her hard work, dedication, and positivity left a lasting impression on him. “She was kind and loving and influenced me greatly.”

As a young boy, Sherman didn’t necessarily excel in academics, but he did do well in math and was even offered an accelerated path through middle school. But such success came at a price; Sherman had to leave his friends behind, so to speak, and start over socially. He also had a passion for sports, particularly baseball. And this love for America’s favorite pastime came full circle later in his life when he became the principal owner of the Marlins.

In quintessential American fashion, Sherman even had a paper route as a young boy. He loved collecting his payments, which were often in change. Getting paid in so many coins started Sherman’s interest in coin collecting, which he still enjoys today.

Long Days and Breakthroughs

Bruce Sherman attended the University of Rhode Island, despite it being only one of two campuses that he had visited at that time. His parents wanted him to get a job quickly after graduation and advised him to major in accounting, which he did. Shortly before graduating, Sherman participated in interviews on campus and secured a job at Arthur Young and Company, a prestigious accounting firm that merged with Ernst & Whinney in 1989 to create Ernst & Young.

“I was a little intimidated in those early days,” he said, reflecting on the experience. “Many of my co-workers were from Ivy League schools, but I persevered and did well. Arthur Young was an incredible foundation for my entire career.”

Sherman earned an MBA from Bernard Baruch College. His schedule was tight, so he had to take night classes. And when he wasn’t taking classes at night, he was teaching at Queensborough Community College. The days were long, very long, and the commutes were also long, very long, but Sherman was dedicated and pursued his dreams with a relentless work ethic.

Arthur Young & Company eventually asked Sherman to relocate. He told them that he would only accept the offer if they gave him a partnership. They declined the counteroffer, being unable to guarantee such a thing. In the end, Sherman felt that Arthur Young was “not the right environment” for him.

But now his future was uncertain. He was living paycheck to paycheck, and he had a wife and children who depended on him for support. Sherman’s oldest brother, Peter, let him use his office in Manhattan so Sherman could more easily apply for jobs. “His emotional support meant a lot to me. He is one of the smartest people I’ve ever known, and I’ve always admired him. I wanted to prove to him and my other brother, Joel, that I could be successful.”

Sherman was later brought on as a financial executive at the Collier Family Office, which, at the time, owned a number of businesses throughout southwest Florida. But Sherman had bigger ambitions, and the circumstances didn’t offer the avenues he was pursuing.

In 1986, Bruce Sherman co-founded an independent wealth-management firm called Private Capital Management (PCM). PCM’s humble beginnings grew into the largest independent asset manager in the southeastern United States, and one of the largest firms in the whole nation. At its zenith, the company was managing $35 billion. In two decades, the company had accumulated 7,000 clients. Private Capital Management was eventually sold to Legg Mason in 2001. The sale set a record valuation, and Sherman remained in charge of the company’s portfolio management, maintaining PCM’s status as a top wealth manager in the United States.

Giving Back and Serving the Needs of Children

Sherman retired in 2009, at which time he shifted his focus toward philanthropic endeavors and giving back to the community more directly. Alongside his wife Cynthia, Sherman founded the Bruce and Cynthia Sherman Charitable Foundation to support causes close to their hearts, such as health initiatives. For 20 years, the couple was also trustees for the Naples Children & Education Foundation, which supports underprivileged and at-risk children. Bruce and Cynthia Sherman are also benefactors to the Naples Winter Wine Festival, which has raised millions for the foundation.

In 2021, the Bruce and Cynthia Sherman Charitable Foundation partnered with Bascom Palmer Eye Institute at the University of Miami Miller School of Medicine. Together, the two organizations created the Palm Beach Vision Health Initiative, a vision-screening program for children in underserved communities. On top of that, the foundation endows the Bruce and Cynthia Sherman Professorship in Urological Research and Innovation at New York University’s School of Medicine (bladder cancer is the twelfth leading cause of death in the United States).

And if that wasn’t enough, the foundation also created what’s known as the Sherman Prize, which is recognizes individuals who important contributions in the fight to overcome ulcerative colitis and also Crohn’s disease, which has affected both of Sherman’s daughters. “We established the Sherman Prize to recognize the accomplishments of leaders in the field,” Sherman states on the prize’s website, “in the hope that it will create a ripple effect, spreading awareness, innovation, and inspiration to others, so that other families won’t have to contend with the disease as ours has.”

That is certainly not the extent of Bruce and Cynthia’s charitable efforts, but they highlight the Shermans’ particular interest in serving the needs of children, especially children who are at a disadvantage of no fault of their own.

Reeling in Marlins Ownership

As mentioned earlier, 2017 marked the year when Sherman’s lifelong love for baseball culminated in his becoming the majority owner of the Miami Marlins. With a new industry came a new challenge, and Sherman embraced that challenge with the same perseverance and tenacity that has brought him success throughout his life. “I love what I’m doing today,” he said of his MLB ownership. It’s been a great opportunity to educate myself about a completely new industry and to take the reins of the Miami Marlins.”

A Legacy of Persevering and Sharing the American Dream

Bruce Sherman’s story is one of staying determined, making the most of opportunities, and taking risks head on. From an average Brooklyn boy with a knack for math to the billionaire owner of the Marlins, Bruce Sherman steadily pursued the American Dream.

“When you are confronted with a roadblock,” Sherman said, “you just have to push ahead, and good things will happen.” In 2024, Sherman received the Horatio Alger Award from the Horatio Alger Association, which commemorates the efforts of distinguished Americans who steadily pursue the American Dream and give back so that others may share in that dream.