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Its users frequently refer to themselves as latecomers an offensive insult to people with intellectual disabilities and Keith Gill, the Redditor credited with leading the GameStop rally, goes by DeepF-value on the forum. Read the API documentation . In early 2021, members of the subreddit r/wallstreetbets built a groundswell of criticism aimed at fund managers like Plotkin who aggressively "shorted" the stock of struggling companies. If youre hearing his name for the first time, here are 10 things you didnt know about Gabe Plotkin to bring you up to speed. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! Grant Information Last Updated: Ratings are calculated from one or more beacon scores. He graduated from Northwestern University with an Economics degree in 2001. Gabriel Plotkin has a rich personal life as well as a busy career. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. These included GameStop, AMC Networks, Cryoport, First Majestic Silver, GSX Techedu, and Simon Property Group. Key Persons data is currently unavailable for this organization. Personal Life and Real Estate:In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Melvin became a prime target for newbie traders on Reddits WallStreetBets forum because he had taken a short position on GameStop, meaning he was betting the struggling video game retailers share price was going to lower. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. David F. Kurd is the firms COO. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. 9. In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. Melvin Capital Founder Gabriel Plotkin Reportedly Lost $460 Million in Short Squeeze By Dan Clarendon Feb. 23 2021, Published 10:59 a.m. It was recently reported that Yaara filed for divorce after Gabriel lost a huge chunk of his money due to the rise of GameStop's stock prices. GABRIEL PLOTKIN - FOUNDER & CIO, Tallwoods CAPITAL Children of Fallen Patriots Board of Advisors, Advisor Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firm's Chief Investment Officer. You've probably heard what went. A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. He established Melvin Capital, a fund that was named in honor of his late grandfather. It is known for its short-selling strategies. He graduated from Northwestern University with an Economics degree in 2001. 2023 Celebrity Net Worth / All Rights Reserved. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. Plotkin founded Melvin Capital, after leaving SAC during the insider trading blowup, in late 2014, naming the fund after his late grandfather who was a small-business owner. WallStreetBets may seem sophisticated or chaotic from the outside, but the fact that were here today means that theyve been successful in raising important questions about fairness and opportunities in our financial system, Huffman said. Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. Your donation attempt encountered a problem. In the hedging end of the financial industry, fortunes are made and lost with frequency. 5. This data release includes only a subset of what can be found in the full Form 990s. BOSTON (Reuters) - Gabriel Plotkin will on Thursday explain his hedge fund's massive losses in the GameStop trading frenzy, and he plans to tell U.S. lawmakers that Melvin Capital Management follows securities laws, does not manipulate stocks and conducts extensive research before making bets. May 19, 2022. Galleon shut down in 2009, following Rajaratnam's arrest, and a year later Shaulov founded . If you have used our data or site in your research or reporting, add credit and a link to Nonprofit Explorer in your story or publication and let us know. Just two of the stocks prices did not move in a meaningful manner. Gabe Plotkin is the CIO of Melvin Capital. While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. He has literally no presence on social media on any of the platforms. ET The net worth of Gabriel Plotkin reportedly took a. [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. His compensation after that year's performance was $300 million. A former SAC Capital star trader, Gabriel Plotkin started his own fund at the end of 2014, called Melvin Capital Management, named after Plotkin's late grandfather. Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. He is Jewish. One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. No wonder he told a congressional committee the experience humbled him. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. Three of them surged in price through late January. They have a son named Eytan Shmerel. They have a son named Eytan Shmerel. The Jews cant keep getting away with this. Others sent similarly profane and racist text messages to me., Wrapping up his prepared statement, Plotkin said he was personally humbled by the Reddit short squeeze and Melvin Capitals losses. In any case, shares of ViacomCBS, Melvins largest put position among the newly revealed eight, rose roughly 50 percent for the month through January 27. His compensation after that years performance was $300 million. He was in charge of managing a portfolio of consumer stocks. Want to see how you can enhance your nonprofit research and unlock more insights? EIN 46-4942784 . Yaara doesnt have a Wikipedia page devoted to her yet. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. Offers may be subject to change without notice. Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). There were bits of gossip about Yaara Bank-Plotkin and Gabe Plotkin getting separation on January 31, 2021. A verification email has been sent to you. But The Real Deal reports that Plotkin is forging ahead on the renovation of the two Miami Beach, Fla., properties that he bought in 2020 for $44 million, with his attorney going before the Miami Beach Design Review Board to discuss the Melvin Capital founders plans to demolish one of the two properties to make room for a 1,316-square-foot cabana, a playground, and amenity courts. Please refresh the page Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. However, during January 2021, he reportedly lost $460 million due to his funds collapsing. A Sony Pictures exibiu no seu painel na CinemaCon na Segunda (24) as primeiras cenas de "Dumb Money", do diretor de "Eu, Tonya" e "Cruella", Craig Gillespie, uma comdia biogrfica baseada no livro 'The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees', de Ben Mezrich. Gabe Plotkins Melvin Capital Management late Wednesday provided new insight into negative positions the firm held at year-end that may have contributed to its stunning 53 percent loss in January. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. The hedge fund is getting a boost from Citadel LLC and Point72 Asset Management, however. According to the Wall Street Journal, Melvin Capital lost 53% on its investments in January 2021 alone. Total revenues. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Gabriel Plotkin, formerly a top trader for Steve Cohen's Point72, put out his own shingle in 2014, opening Melvin Capital with $1 billion in seed money . He currently serves as the Chief Investment Officer of the hedge fund that he established. The fund is led by Founder & CIO Gabriel Gabe Plotkin. Gabe and Yaara also have two beautiful kids, a son, and a daughter. 2020. The 20 highest-earning hedge fund managers and traders made $10.3 billion combined in 2018. For those interested in acquiring the original data from the source, heres where our data comes from: Enter a nonprofit's name, a keyword, or city, Cabe Plotkin raised almost a billion dollars for the fund. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization. SAC's founder, Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Melvins put positions in the other stocks were much smaller in market price value. Revenue and expense data is not available for this organization. If this organization has filed an amended return, it may not be reflected in the data below. We welcome all corrections and feedback using the button below. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Who Paid The Largest Individual Tax Bill Of All Time? Gabriel and Yaara got hitched in the year 2006. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. Federal prosecutors alleged that he was the recipient of illegal insider information. Check back later to see if this organization has a rating history! Gabeis best-known for being the founder of Melvin Capital Management which had a public spat with a community of redditers in 2021 over the company GameStop. Gabriel was on in Portland, Maine and this is where he grew up. Telephone: 2128320400 Mr. Plotkin is married to Yaara Bank-Plotkin. Copyright 2023 Market Realist. When Plotkin was still employed at SAC Capital a scandal broke out. endobj Prior to starting Melvin Capital, Plotkin was a trader at Steve Cohens SAC Capital, where he managed a portfolio of mostly consumer stocks valued at about $1.3 billion. I wanted the firm to represent his valuesintegrity, hard work, taking care of customers and employees, and commitment to excellence, he added. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Net Worth. Hes still in business and going strong. Click on the link in that email He raised nearly $1 billion. Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. If you wish to donate, please refresh the page. $2800/month total (Arielle Oct Update) | DS408 | Doug.Show, Keep your friends close and your enemies closer, How to make great makeup for the first date in 2022, Umbrella Wholesale Business Start-Up Advice, The Top 10 Garden Accessories to Wholesale, The Art of Electric Shaving: 5 Tips and Tricks for a Smooth Shave, 3 Ways Bad Weather Can Affect Package Shipping & Delivery. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Accountability & Finance methodology because it files Form 990-PF, as required of Private Foundations. Please share any feedback you have about Foundation Directory Online. In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Privacy Policy The most well-known incident involving Gabe was the founding of Melvin Capital Management, which engaged in a public argument with a group of Reddit users in 2021 over the firm GameStop. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. }p . Rating histories are available for a growing number of rated organizations. to get more GuideStar Nonprofit Profile data today! Northwestern UniversityAfter graduating from Northwestern University with a degree in Economics in 2001,Gabriel Plotkinjoined Ken Griffins hedge fund Citadel LLC, and later Connecticut-based hedge fund North Sound Capital. persistence and determination the founder,

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