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Daniel Loeb Net Worth, Biography & Wiki 2017
Daniel Seth Loeb is an investor, hedge fund manager and a philanthropist born on 18th December 1961, in Santa Monica, California, USA, and is best known as the founder and CEO of the activist hedge fund “Third Point” which is oriented in investing in assets under management. He was named one of the most successful activists in 2014 by “New York Magazine”.
Have you ever wondered how rich Daniel Loeb is? According to sources it has been estimated that Daniel Loeb’s overall net worth is $2.6 billion, as of June 2017, accumulated through an extremely lucrative business career which he started building in the early ‘80s. Since he is still a very active businessman, his net worth continues to increase.
Daniel Loeb Net Worth $2.6 Billion
Daniel was raised in a Jewish family in Santa Monica, and went to Palisades Charter High School where he engaged in numerous activities including AP classes, and starting a skateboard company.
His father was an outside director of Mattel, Inc., a firm which was co-founded by Daniel’s great-aunt Ruth Handler who also created the Barbie doll. After finishing high school, Daniel enrolled at Berkeley, University of California where he spent two years before transferring to Columbia University and graduating with a degree in economics. Already in his senior year, Loeb had made $120 000 on the stock market, but later lost it all in a poor investment. Upon graduation he worked at Warburg Pincus firm, and then as a director at Island Records, securing debt financing. He also worked as an analyst at Lafer Equity Investors, and served as senior vice-president at Jefferies LLC., before in the mid -‘90s becoming Citigroup’s vice president in charge of high-yield bond sales, adding steadily to his net worth.
At the time, Daniel started Third Point Management, with capital of $3.3 million. Under his guidance, the firm became one of the best performing hedge funds, and Loeb soon appeared on Forbes’ list of the world’s 40 richest hedge-fund managers. After holding 5.8% of Yahoo! Stock, Daniel became part of its board in 2012. However, in July the following year, Loeb resigned his position and proposed splitting Sony’s businesses, stating it would increase the company’s profit. In June 2013, it was announced that Third Point LLC increased its stake to 7 percent, and the following year, Daniel’s company took a stake in a robotic and computer controls firm “Fanuc”. He has also launched an initiative with the Human Rights Campaign and fellow hedge fund billionaire Paul Singer, to protect LGBT rights globally. Loeb currently serves as the chairman of the Success Academies Charter Schools in Brooklyn, and is also a trustee of the US Olympic Committee.
When it comes to his private life, Daniel has been married to Margaret Davidson Munzer since July 2004 – the couple has three children and resides in New York City. He is an avid surfer and states that one of his favorite surfing spots is in Indonesia. .