Many of these posts were laced with antisemitic slurs directed at me and others, he said. Tradewater. In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. She is a native New Yorker. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. These included GameStop, AMC Networks, Cryoport, First Majestic Silver, GSX Techedu, and Simon Property Group. Read the IRS instructions for 990 forms. The couple married in 2006 and are still together. Plotkin founded Melvin Capital in 2014. And while I do not think that anyone could have anticipated these events, I have learned much from them, and I am taking steps to protect our investors from anything like this happening in the future.. Learn More ProPublica posts new tax forms as they are released by the IRS. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. Offers may be subject to change without notice. 5. The mission of Children of Fallen Patriots. He graduated from Northwestern University with an Economics degree in 2001. He has a generous heart when it comes to helping those who are in need. Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. 02/11/2022. March 2023. Read the API documentation . Gabe Plotkin got married in 2006 to a lady named Yaara Bank. The 20 highest-earning hedge fund managers and traders made $10.3 billion combined in 2018. Please refresh the page Read the API documentation . Gabriels company suffered a big loss in 2021. SACs founder,Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Please share any feedback you have about Foundation Directory Online. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. A verification email has been sent to you. He raised nearly $1 billion. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. In September 2020 the name of the company showed up in the Polish Short Sale Registry (Rejestr Krtkiej Sprzeday) because of a short position in-game developers CD Projekt, a net position of 0.55 percent through the Polish stock exchange (GPW). One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. Our projects result in quantifiable . He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. 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. Both are natives of the East Coast. Total expenses. Despite the turmoil, Plotkin insisted that the $ 2.75 billion investment Melvin secured from Ken Griffins Citadel and Steve Cohens Point72 in late January was not intended to bail out the fund because it was grappling with heavy casualties. Taxable trusts and private foundations that are required to file a form 990PF are also included. Give the page a little longer to finish The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International. GameStop: 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. Others have sent me equally profane and racist texts. Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. Since its inception six years ago, Melvin had held the position because the fund believed GameStops business model of selling video games in physical stores was overtaken by digital downloads via the Internet, Plotkin said. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Access lists of funders based on detailed search criteria and other features such as: Copyright 2023 Candid. They participate in annual support drives for this purpose. Two other firms invested . He is Jewish. 2020. Already have a GuideStar Account? 4 0 obj This organization is not listed in the IRS's most recent. Fearless Fund Invests $1.34 Million Into Gabrielle Unionss Bitsys, Heron Preston Taps Gabriel Moses In Defining His Language Of Workwear, The Gabrielle Chanel Parfum Is Newly Unveiled, GameStop Short Seller Says Reddit Trolls Targeted Him With Anti-Semitic Harassment, The Highest-Earning Hedge Fund Managers And Traders, Highest-Earning Hedge Fund Managers & Traders 2019, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop. We learned from WikiProject Topics some facts about Gabriel Plotkins early years. Copyright 2023 Market Realist. Gabriel Plotkin has a rich personal life as well as a busy career. The couple married in 2006 and are still together. Plotkin, the founder, and CIO of Melvin is a former trader and consumer stock specialist at Sigma Capital Management, then a division of SAC Capital, where he spent eight years. How Soccer Agents Gabriele And Valerio Giuffrida Tackle The Transfer Markets Financial Challenges, Why Its Difficult To Predict Where GPT And Other Generative AI Might Take Us, Sunday Conversation: Aly & AJ On New Music, Favorite Los Angeles Spots, Peter Gabriel and Their Creative Renaissance. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. This organization has not yet reported any program information. All net worths are calculated using data drawn from public sources. There were bits of gossip about Yaara Bank-Plotkin and Gabe Plotkin getting separation on January 31, 2021. 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. Gabe Plotkin is the CIO of Melvin Capital. Melvin Capital lost 53% on its investments in January 2021 alone. 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. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. Why Aren't Donated Clothes Always Given Away for Free? Yaaras identity and foundation are kept hidden. Federal prosecutors alleged that he was the recipient of illegal insider information. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Testimony of Gabriel Plotkin, Founder and Chief Investment Officer, Melvin Capital Management Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, I would like . Note: The absence of a rating does not indicate a positive or negative assessment; it only indicates that we have not yet evaluated this organization. Gabe Plotkin is the CIO of Melvin Capital. Gabriel Plotkin has a rich personal life as well as a busy career. Gabriel started the venture the board firm in 2014 in New York. 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. In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. David F. Kurd is the firms COO. This data release includes only a subset of what can be found in the full Form 990s. By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. In the early part of 2021, Melvin Capital experienced a loss of more than 30 percent because of short betting. Mr. Plotkin is married to Yaara Bank-Plotkin. These audits are copied from the Federal Audit Clearinghouse. At the center of last months GameStop frenzy, the head of the hedge fund said Redditors targeted him with anti-Semitic slurs and text messages. We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. Family foundations . Just two of the stocks prices did not move in a meaningful manner. We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. The Form 990 is a document that nonprofit organizations file with the IRS annually. Click on the link in that email Gabe has been married to Yara Bank-Plotkin since 2006. . GameStop was just one of the shorts that went south on the company. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Melvin Capital founder Gabe Plotkin made the disturbing statement in prepared testimony he plans to deliver at Thursdays House Financial Services Committee hearing on the recent populist revolution in the stock market. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . He enrolled in courses at Northwestern University. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. In 2017, its first full year in operation, Melvin generated a 47% return on assets, which made it the second-best performing hedge fund in the world (among hedge funds with more than $1 billion in assets under management). It covered its short position on the stock, but the precise amount that Melvin Capital lost in the deal has not fully been disclosed. Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. Public, Society Benefit - Multipurpose and Other N.E.C. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. The firm ended 2020 with $12.5 billion under management. The acquisition valued the Hornets at $1.5 billion. If it is your nonprofit, add a problem overview. Gabe's company was worth $12.5 billion before suffering a huge loss. He also owns property in New York City. This data is only available if this charity has at least one year of electronically-filed Form 990 data filed within the last six years. The blow-up resulted in Point72 Asset Management and Citadel pumping $2.75 billion into Melvins hedge fund to shore up its finances. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. Duplicated download links may be due to resubmissions or amendments to an organization's original return. The losses were so large that Melvin reportedly had to request a $2.75 billion capital injection from Point72 and Citadel in exchange for the rights to a portion of the fund's future revenues. American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. According to the Wall Street Journal, Melvin Capital lost 53% on its investments in January 2021 alone. The organizations present valuation is $8 billion, reports Daily Mail. 3 0 obj Ratings are calculated from one or more beacon scores. Gabriel Plotkin Melvin capital worth Wife Age. July 28, 2021 According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Analyze a variety of pre-calculated financial metrics Access beautifully interactive analysis and comparison tools 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 . Check back later to see if this organization has a rating history! This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. His compensation after that years performance was $300 million. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. Sign up to get ProPublicas biggest stories delivered straight to your inbox. He has literally no presence on social media on any of the platforms. He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens.

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