Upon entering the Hankey Group’s offices, you quickly realize glasses that filter blue light are essential.
Six large screens greet visitors in the Hankey Group lobby, each updating in real time auto loan deals taking place throughout the country. When giving a tour, the chairman overseeing all seven of his companies housed in the room can tell you exactly what each datapoint means.
The 80-year-old Don Hankey displays his command when narrating the data feed, explaining to observers what each line means, be it a dealership’s loan application in some far-off place or details on a particular car. He is orchestrating his lending empire built on numbers.
Hankey, with a net worth of $9 billion and a longtime member of the Wealthiest Angelenos list – he’s tied for No. 6 on this year’s list – stands as a testament to how meticulous strategy in statistics can garner outsized returns, even as his main business places bets on subprime customers, the kind many in the financial world deem too risky. Hankey is the founder of Westlake Financial Services Inc., the largest lender for independent car dealers in the United States and the biggest of the seven related companies he runs.
He has an eye for detail that borders on obsessive when it comes to returns, a trait that has been pivotal in navigating the ebb and flow of the auto financing and real estate sectors, industries in which the Hankey Group has left an indelible mark.
One of a number of octogenarians reluctant to relinquish control over enterprises, Hankey has yet to formally name a successor. His unwavering commitment is showcased by the time stamps on his day’s first emails he sends – usually in the 6 a.m. hour.
His days typically commence before the sun rises. He climbs into his chauffeured silver Maybach at 5 a.m. to ride from Malibu to his Mid-Wilshire office, analyzing troves of reports and meticulously picking apart potential loan outcomes as the car moves along.
Early data mastery
The precise,…
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