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David Einhorn Net Worth, Biography & Wiki 2017
David Einhorn was born on the 20th November 1968, in Newark, New Jersey USA, and is a hedge fund manager and the founder and current president of Greenlight Capital, a hedge fund primarily focused on investing in debt offerings and equities. He is also the chairman of Greenlight Capital Re Ltd, a reinsurance company based in the Cayman Islands.
Have you ever wondered how much wealth this talented businessman has accumulated so far? How rich David Einhorn is? According to sources, it is estimated that the total amount of David Einhorn’s net worth, as of mid-2016, is $1.45 billion. It has been acquired mostly through his management of Green Capital which has been operating since 1996.
David Einhorn Net Worth $1.5 Billion
David Einhorn was born into a family of Jewish descent, to Nancy and Stephen Einhorn. He attended Nicolet High School in Glendale, Wisconsin and later enrolled at Cornell University’s College of Arts from which he graduated summa cum laude with a Bachelor of Arts degree majoring in government, in 1991. David began his career in 1993 as an analyst at the Donaldson, Lufkin & Jenrette investment bank, but after two years he transferred to the Siegler, Collery & Co. hedge fund, where he discovered an interest for the filing of investment research. This engagement provided the basis for his later, quite impressive, net worth.
In 1996, David Einhorn founded the Greenlight Capital Inc. with an initial budget of $900,000 and since then has served as its president. Under his leadership the company expanded quickly and developed a highly diversified funding strategy, managing private equity funds. Greenlight Capital Inc. also includes daughter corporations Greenlight Capital Re, Greenlight Private Equity Partners and Greenlight Masters. One of the main characteristics of Greenlight is that it doesn’t use leverages or borrowed money, unlike many other hedge funds. Up to this day, the assets of Greenlight Capital was estimated at more than $10 billion. Doubtlessly, these business ventures have been the main source of David Einhorn’s huge net worth.
Apart from his engagement within Greenlight Capital, David Einhorn has also served as the director of BioFuel Energy Corporation between 2006 and 2007, and as a member of the board of directors of New century Financial Corporation. Also, David Einhorn currently serves as the senior managing member of DME Advisors.
Maybe the most significant – or notorious – business accomplishment of David Einhorn so far, is the short-listing of the Lehman Brothers in 2007, when after losing around $3 billion, they were forced to declare bankruptcy, which later led to the global stock market crash in 2008.
When it comes to his personal life, David Einhorn has been married to Cheryl Strauss Einhorn since 1993, and with whom he has three children, currently residing in Westchester County, New York.
It is acknowledged that David Einhorn is an avid poker player; in the 2006 World Series of Poker tournament, he ended at No.18, and donated his entire winnings worth almost $650,000 to The Michael J. Fox Foundation. He is also a member of the board at the Robin Hood Foundation as well as one of the leading donors to Tomorrows Children’s Fund. After taking part in World Series of Poker Big One Drop Out Tournament in 2012 and finishing 3rd, David again donated his entire winnings, with a total worth of $4,352,000, to an education focused organization – City Year.