Michael Steinhardt’s profile picture

Michael Steinhardt

Michael Steinhardt’s profile picture
Net worth 2018: $1.1 Billion
Residence: Mount Kisco, New York
Country: United States
BirthDay: 7 December 1940
Sigh: Capricorn
Education: University of Pennsylvania
BIOGRAPHY

Michael Steinhardt was bornon 7 December 1940 in Mount Kisco, New York, United States. Michael Steinhardt is #1895 in List Billionaires People In The World. Pioneer of the modern hedge fund, Michael Steinhardt earned a fortune in the early 1990s with stellar returns and high-fees before closing shop in 1995. "I thought there must be something more virtuous, more ennobling to do with one's life than make rich people richer. " After a decade-long hiatus from finance, Steinhardt returned in 2004 -- this time working for the little guy. He is the chairman and largest individual shareholder of WisdomTree Investments, a publicly-traded ETF provider that claims to have a new spin on index-fund investing. Back in his trading days, Steinhardt returned an average of 24.5% annually to investors; WisdomTree also aims to beat the market, but just by a few percentage points. That's enough for investors, who have driven assets under management to more than $43 billion. He is also the cofounder of Birthright Israel.

NET WORTH STATISTIC
2014

$1.1 Billion

2015

$1.3 Billion

2016

$1.2 Billion

2017

$1 Billion

2018

$1.1 Billion

TIMELINE
2018

In January, 2018, investigators raided his New York apartment in order to seize looted antiquities

2014

In a January 2014 article by Bloomberg, he was referred to as "Wall Street's greatest trader

2010

In Sebastian Mallaby's 2010 book entitled More Money Than God: Hedge Funds and the Making of a New Elite, he dedicated a chapter to Michael Steinhardt

2009

In 2009 Steinhardt gave the American Hebrew Academy $5 million

2008

In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame along with David Swensen, Louis Bacon, Steven Cohen, Kenneth Griffin, Paul Tudor Jones, George Soros, Seth Klarman, Jack Nash, James Simons, Alfred Jones, Leon Levy, Julian Roberston, and Bruce Kovner

2007

During the fall of 2007 and 2008, WisdomTree's growth stagnated, as the stock market, especially the financial sector, in which WisdomTree's dividend-based funds are overweighted, tanked, as did WisdomTree's stock

2004

In 2004, Steinhardt came out of retirement to work for Index Development Partners, Inc

2002

Steinhardt is active in political circles ranging from centrist Democratic to neo-conservative, having been a past chairman of the Democratic Leadership Council and a board member of the Foundation for the Defense of Democracies, to which he donated $250,000 in 2002

2001

who has been punished enough" (on January 20, 2001, Clinton's last day in office, Rich was in fact pardoned

2000

com, a tracker of publicly available campaign contributions, in the 2000 New York senatorial primary, he donated $1,000 (then the maximum allowable under law) to Republican Rudy Giuliani

1995

The hedge fund closed and distributed all monies to its limited partners at the end of 1995

1994

" Following a negative performance in his hedge fund in 1994, Steinhardt Partners enjoyed an excellent 1995, with performance in line with its historical record

1990

In the 1990s, Steinhardt bought and donated Steeple Jason Island and Grand Jason Island in the Falkland Islands to the Wildlife Conservation Society (WCS), along with USD 425,000 for a research station to be named after himself and his wife

1968

Judy mentioned the company to her father who invested in the company and made a substantial profit after Colorado Milling was acquired by Great Western Sugar in 1968; the merged company was renamed Great Western United

1967

In 1967, Steinhardt met his future wife Judy in a car pool he organized

1960

Steinhardt earned an MBA at the Wharton School of the University of Pennsylvania, graduating in 1960

1958

" "Red" Steinhardt was convicted in 1958 on two counts of buying and selling stolen jewelry, and was sentenced to serve two 5-to-10 year terms, to run consecutively, in the New York State prison system

1940

Steinhardt (born December 7, 1940) is an American investor, hedge fund manager, and philanthropist

20

Steinhardt is a strong supporter of the State of Israel, which he regards as the "Jewish miracle of the 20th century"

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