Rugger Management LLC is a private investment management company, not a celebrity or public figure, which means there is no verified, published net worth figure for it anywhere. What you can do is build a defensible estimate using public records: the company filed as an active foreign LLC in Florida in February 2025, is registered in Delaware, operates out of a Palm Beach address associated with John Phelan (its listed authorized manager), and has at least one named executive (a Chief Investment Officer identified in an SEC filing). Based on those signals, this is a boutique private investment vehicle most likely tied to high-net-worth individual wealth management, not a large publicly traded fund. A rough valuation range is impossible to pin down precisely from public data alone, but the profile is consistent with a firm managing anywhere from tens of millions to several hundred million dollars in assets, depending on the scope of Phelan's personal investment activity.
Rugger Management LLC Net Worth: How to Estimate It
What "net worth" actually means for an LLC like this one
When people search for an LLC's net worth, they usually mean one of three different things, and conflating them leads to confusion fast. First, there is the company's balance-sheet net worth, which is total assets minus total liabilities. For an investment management LLC, that might include cash, ownership stakes in portfolio companies, real property, and management fee receivables, offset by any debt or obligations. Second, there is the valuation of the business itself as a going concern, meaning what someone would pay to acquire it. Third, and most commonly for searches like this one, people actually want to know the personal net worth of the individual behind the LLC. These are three separate numbers, and they can differ by orders of magnitude.
For a private LLC like Rugger Management, none of these figures are publicly disclosed. Private LLCs are not required to file financial statements, publish earnings, or disclose assets to the public. What gets filed publicly is thin: formation documents, registered agent details, and in some states an annual report. Delaware (the state of formation here) is especially opaque, requiring virtually no public disclosure of ownership or financials. Florida's Sunbiz database adds a bit more, like the manager's name and address, but nothing about money.
How to find what's publicly available (and where the wall is)
The good news is that a few genuinely useful data points are sitting in public records right now. The Florida Division of Corporations (Sunbiz) shows Rugger Management LLC (Document Number M25000001794, FEI/EIN 88-2456825) filed as a foreign LLC on February 3, 2025, with an active status. The principal address is 1906 S. Ocean Blvd., Palm Beach, FL 33480, and the authorized manager listed is John Phelan at that same address. The registered agent is Kristi Upton in West Palm Beach. Importantly, the Sunbiz record notes "No Annual Reports Filed," which is consistent with a company that registered recently and has not yet reached its first annual report deadline, or one that simply has not yet complied.
On SEC EDGAR, a filing from March 2026 references Rugger Management LLC in a biography section, identifying a Chief Investment Officer who has served in that role since 2023. This tells you the company was operationally active before its Florida registration, has at least a two-person leadership structure, and has enough of a profile to appear in a public company's SEC disclosures. That is a meaningful signal that this is a real, functioning investment firm, not a shell or dormant holding vehicle.
John Phelan's OGE Form 278e (a public financial disclosure form used for government nominees and officials) also references Rugger Management LLC directly, listing it as a private investment entity and dedicating an entire section to it. OGE 278e disclosures are required to report assets over $1,000 and income over certain thresholds, so this is one of the few places where you might find ranges (not exact figures) for assets tied to the LLC. These forms use value brackets rather than precise numbers, but they give you real ballpark data.
- Florida Sunbiz (sunbiz.org): formation details, manager name, registered agent, annual report status
- SEC EDGAR (sec.gov/edgar): any filings where the company or its executives are named in connection with a public entity
- OGE Form 278e (public financial disclosures for government nominees): asset and income ranges tied to the LLC
- Delaware Division of Corporations: confirms formation state, but provides almost no other detail
- Property records for 1906 S. Ocean Blvd., Palm Beach: can indicate asset base of the manager/owner
- Court records and UCC filings: reveal debts, liens, or business disputes in some cases
The wall you hit quickly is that private LLCs have no obligation to disclose revenue, assets under management, or profit. Third-party databases like ZoomInfo, Dun & Bradstreet, or Crunchbase may show revenue estimates, but those are algorithmic guesses, not audited figures. Treat them as order-of-magnitude indicators at best.
Valuation vs. net worth: why the numbers you find online are not the same thing
If you search for Rugger Management LLC's financials, you may stumble across third-party data aggregators that spit out a revenue estimate or "company value." Those figures are usually generated by proxies like employee count, industry benchmarks, website traffic, or LinkedIn headcount, none of which are specific to this firm's actual assets or liabilities. A company valuation estimate from a site like Growjo or RocketReach is not a net worth figure. It is a modeled revenue proxy, and for boutique investment firms it is usually wildly inaccurate because those firms generate fees on managed assets, not product sales, which throws off most revenue models.
Net worth (assets minus liabilities) is what a balance sheet would show. Valuation (what a buyer would pay) is often a multiple of revenue, earnings, or assets under management. For investment management firms, valuation is frequently calculated as a percentage of AUM (assets under management), often somewhere between 1% and 3% for boutique firms. So if Rugger Management manages $200 million in assets, its business valuation might be in the $2 million to $6 million range as a standalone firm, even though the assets it manages are far larger. Those are completely different numbers, and most online sources blur the distinction badly.
A step-by-step way to estimate the financial picture
You are not going to find an audited balance sheet. But you can triangulate a defensible range using the public signals available. Here is a practical approach, in order of reliability.
- Start with the OGE Form 278e: John Phelan's public financial disclosure is your single most valuable source. Pull it directly from the OGE or agency website where it was filed. Look at Section 3 (explicitly labeled for Rugger Management LLC) and note the asset value brackets and income ranges disclosed. These are ranges, not exact figures, but they are legally certified estimates.
- Check the Palm Beach property record: The address 1906 S. Ocean Blvd., Palm Beach, FL 33480 is associated with both the LLC and Phelan personally. Pull the Palm Beach County Property Appraiser record to see the assessed value of that property. High-value real estate in Palm Beach signals substantial personal wealth, which contextualizes the LLC's likely scale.
- Search EDGAR for all mentions of Rugger Management LLC: Use the full-text search at efts.sec.gov to find every SEC filing that names the company. Each mention may add context about the firm's role (fund manager, investor, advisor) and the size of transactions it is connected to.
- Look at the CIO's background: The SEC filing identifies the CIO by name. Search their professional history on LinkedIn or in prior filings to understand what scale of assets they have managed in previous roles. A CIO with a Goldman Sachs or Citadel background implies a different AUM tier than someone from a regional advisory firm.
- Check for Form ADV with the SEC or state regulators: If Rugger Management provides investment advice to clients and manages above a certain threshold, it may be registered as an investment adviser and required to file Form ADV, which discloses assets under management, number of clients, and fee structures. Search the SEC's IAPD database (adviserinfo.sec.gov) and Florida's state adviser registry.
- Run a UCC search in Delaware and Florida: UCC filings reveal secured loans and financing arrangements. If the LLC has significant debt, that affects net worth materially.
- Use third-party revenue estimates only as a sanity check, not a primary source: If a site like ZoomInfo estimates revenue in the $1M-$5M range, that is a rough signal but not something to cite with confidence.
Are you actually looking for the person behind the LLC?
This is the most common source of confusion with searches like "Rugger Management LLC net worth." Many readers searching this phrase are actually trying to find out how wealthy John Phelan is, or who the individuals behind this entity are, rather than the company's balance sheet in isolation. Those searching for the Rican Mucker net worth are typically trying to estimate personal wealth rather than the LLCs financial statements. That is a completely legitimate and different question, and it has a different research path.
John Phelan is the authorized manager listed on the Sunbiz filing and the subject of the OGE Form 278e that explicitly covers Rugger Management LLC. John Phelan’s disclosed assets and related information can help you understand how estimates connect to Henry Ruggs net worth searches. If you are trying to connect these signals to Mr Ruggs net worth, focus on the asset brackets and how they relate to what the LLC manages Henry Ruggs net worth. If Phelan is or was being considered for a government role (which OGE 278e filings typically indicate), his financial disclosure is a rare window into his personal wealth picture, including assets held through the LLC. Palm Beach's S. Ocean Blvd. is one of the most expensive addresses in Florida, and the profile of a private investment LLC managed from that address, with a named CIO and SEC-filing appearances, is consistent with a high-net-worth individual operating a family office or personal investment vehicle rather than a large institutional fund.
It is worth noting that searches in this space can sometimes reflect curiosity about figures with similar names. For context, searches around names like Henry Ruggs, Mr. Ruggs, or Rugg Williams typically relate to athletes and entertainers rather than investment professionals. If you meant “Rugg Williams net worth” for an athlete or entertainer with a similar name, the right person and sources will differ from this LLC. Those are entirely separate people and separate financial profiles. If your search started with a name and landed on the LLC, make sure you are researching the right entity before drawing any conclusions.
How to sanity-check and handle conflicting estimates
If you find multiple sources quoting different net worth or valuation figures for Rugger Management LLC, the first question to ask is: what is each source actually measuring? A site quoting a $5 million valuation might be modeling revenue. A site quoting $500 million might be extrapolating from Phelan's personal wealth or the assets the firm manages. Neither is wrong per se, but they are measuring completely different things.
| What the source claims to show | What it likely actually measures | How much to trust it |
|---|---|---|
| Net worth of the LLC | Balance sheet equity (assets minus liabilities) | High, if from OGE disclosure or audited filing; Low, if from a data aggregator |
| Company valuation | Modeled revenue or AUM-based multiple | Medium, treat as rough order of magnitude only |
| Revenue estimate | Algorithmic proxy from employee count or industry benchmarks | Low, especially for boutique investment firms |
| Assets under management | Total client/fund assets managed, not company net worth | High, if from Form ADV; Medium, if from news reports; Low, if inferred |
| Owner personal net worth | Individual assets including but not limited to LLC holdings | High, if from OGE 278e disclosure; Medium, if from journalist reporting; Low, if from celebrity net worth aggregators |
A reliable estimate will always note its methodology and its limitations. If a source gives you a single precise number with no explanation of how it was derived, that is a red flag. Good methodology looks like: "Based on OGE Form 278e disclosures showing asset brackets of X, and the Palm Beach property assessed at Y, and Form ADV showing Z in AUM (if applicable), we estimate..." That kind of layered approach is defensible. A bare number pulled from a data scraper is not.
Your next steps if you want a tighter estimate today
Here is exactly what to do right now, in order of impact.
- Pull John Phelan's OGE Form 278e: Search for "Phelan OGE 278e" or "final278.pdf Phelan" alongside the agency he was nominated for. Read Section 3 on Rugger Management LLC carefully and note the asset value brackets.
- Search SEC EDGAR full-text for "Rugger Management": Go to efts.sec.gov and run that search. Download any filings that reference the firm and note the context: are they an investor, an adviser, or named in a biography?
- Check the SEC IAPD database for an investment adviser registration: Go to adviserinfo.sec.gov and search "Rugger Management." A Form ADV filing would be the single most informative public document available for an investment firm of this type.
- Run the Palm Beach County property appraiser lookup: Search the address 1906 S. Ocean Blvd., Palm Beach, FL 33480 at pbcpao.gov to see assessed value and ownership history.
- Do a Delaware entity search: Go to icis.corp.delaware.gov and search for the LLC to confirm its Delaware registration date, which predates the Florida foreign registration of February 2025.
- If your goal is the owner's personal wealth, frame it that way: Search for John Phelan's biography, prior roles, and any press coverage of his investment career. His personal net worth story, separate from the LLC entity, is likely more findable and more relevant to what you actually want to know.
The bottom line is that no verified, precise net worth figure exists publicly for Rugger Management LLC because private LLCs are not required to disclose one. What you can build, using the OGE disclosure, SEC filings, property records, and potential Form ADV data, is a defensible range and a clear sense of the firm's scale. Based on the available signals, this is a legitimate, active private investment vehicle operating in a high-net-worth environment, almost certainly tied to significant personal wealth on the part of its manager. If you want the full picture, the OGE Form 278e is your best starting point, and it is publicly available right now.
FAQ
Does Rugger Management LLC have a “public net worth” number like public companies do?
No. As a private LLC, it is generally not required to publish audited financial statements or a balance-sheet net worth. The closest public substitute is using bracketed asset ranges from the manager’s OGE 278e (if Rugger Management LLC is listed there), plus any asset or debt clues from property records and any filings that reference the firm’s activities.
If I find an online “company value” for Rugger Management LLC, should I treat it as net worth?
Usually no. Many “value” figures are modeled revenue proxies or AUM-based estimates, which are different from net worth (assets minus liabilities). A quick check is whether the source explains what it is measuring (revenue, AUM, or balance-sheet equity). If it does not, treat it as a weak guess.
How can I tell whether the number I’m seeing is about the LLC or about John Phelan personally?
Look at the entity name in the source and the context. LLC net worth should be tied to the company’s assets and liabilities, while personal net worth typically appears in financial disclosure forms (like OGE 278e) or personal listings. If the figure is derived from asset brackets and lifestyle indicators at a personal level, it is almost certainly personal net worth, not Rugger Management LLC’s.
What exactly can I infer from OGE Form 278e for Rugger Management LLC?
You can often infer asset brackets and sometimes income ranges, but not a precise total. Also, OGE disclosures may list ownership through an LLC, so the disclosed values may reflect Phelan’s stake rather than the entire LLC’s balance sheet. Use the brackets to build a range, not to claim an exact net worth.
Is the Florida “No Annual Reports Filed” note a red flag?
Not necessarily. It can simply mean the LLC is newly registered or has not yet hit the annual reporting window. To assess seriousness, cross-check timing against formation and whether any other records show ongoing activity (for example, SEC-related references or other filings tied to the firm).
Can assets under management (AUM) estimates help me estimate net worth of the LLC?
Only indirectly. For investment managers, business valuation is often tied to AUM via a fee multiple or a percentage-of-AUM approach, but that is valuation of the operating business. It is not the same as the LLC’s equity or net worth, and it can be misleading if the AUM estimate is uncertain or if the firm is fee-pooled versus directly managed.
If the firm is valued at, say, a few million dollars, does that mean the manager is not extremely wealthy?
Not necessarily. The valuation of the business as a standalone firm (what someone would pay to acquire the management entity) can be much smaller than the underlying wealth of the manager or the scale of managed assets. Personal wealth can be held in multiple vehicles, some of which may not be obvious from the LLC records alone.
Where should I look for evidence that Rugger Management LLC is operational versus a dormant shell?
Beyond formation records, check for leadership details (authorized manager, CIO, etc.), and any third-party references that indicate activity (such as appearances in biographies within public filings). If a record shows ongoing roles or continued filings over time, that is a stronger operational signal than an entity that exists only on paper.
What is the fastest way to build my own defensible net worth range right now?
Start with OGE 278e (for bracketed assets and any explicit references to Rugger Management LLC), then triangulate with property information tied to the principal address, and finally look for any AUM-related indicators in the appropriate regulatory context (only if available). Convert these into a range with assumptions stated, avoid single-point “precise” numbers without methodology.
How do I avoid mixing up Rugger Management LLC with similarly named people or entities?
Confirm you have the correct entity by matching identifiers like EIN/FEI, registered address, and the listed authorized manager. If your search started from a person’s name that resembles a different public figure, you can end up with the wrong financial profile entirely. Always anchor on the LLC identifiers before trusting any “net worth” figure.
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