Michael Steinhardt Net Worth is$1.2 Billion
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Profession: Businessperson, Investor
Date of Birth: Dec 7, 1940
Ethnicity: Jewish people
Country: United States of America
Michael Steinhardt is an investor with a net worth of $1.2 billion. Michael Steinhardt earned his net worth through all the business investments and as chairman of Wisdom Tree and IDT Corporation. He was born in Brooklyn, New York and is also a big contributor to charitable organizations.
Michael H. Steinhardt (born December 7, 1940) is an American investor and philanthropist active in Jewish causes. He was one of the first prominent hedge fund managers, and is a graduate of the Wharton School of the University of Pennsylvania. He founded Steinhardt, Fine, Berkowitz & Co., a hedge fund, in 1967. He is "a legend in the story of hedge funds, partly because of his success as a trader but also because of his personality."
Steinhardt averaged an annualized return for his clients of 24.5%, after a 1% management fee and a "performance fee" of 15% (early in his career, later 20%) of all annual gains, realized and unrealized, nearly triple the annualized performance of the S&P 500 Index over the same timeframe.
Prior to Steinhardt's and his partners' starting their eponymous hedge fund during the summer of 1967, Steinhardt was an analyst at Loeb, Rhoades & Co., later part of Citigroup, following a convoluted chain of mergers and spinoffs. At Loeb Rhodes, Steinhardt followed the conglomerate industry, which included companies such as Automatic Sprinkler (now defunct), City Investing (also defunct), and the best-known conglomerate of its day, Gulf & Western (now part of Viacom and Viacom's spinoff CBS). Again, according to his autobiography, he met his future wife in a car pool he organized in early 1967. During the course of the drive to downtown NYC, he mentioned the name of a company, Colorado Milling, a leading operator of grain elevators. Colorado Milling was acquired in 1968 by Great Western Sugar, a beet sugar refiner turned conglomerate, which had previously acquired Shakey's, a major pizza chain. The merged company was renamed Great Western United. The future Mrs. Steinhardt, who didn't know Michael Steinhardt at the time, mentioned Colorado Milling to her father, who invested in the company, making a substantial profit, part of which was used to buy his daughter-the future Mrs. Michael Steinhardt-her first fur coat.
After decades of successfu

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Michael Steinhardt Latest News

Steinhardt to lead NJGOP during ‘tumultuous times'

Chris Christie appointed Steinhardt's wife, Trudy, to the state Parole Board. Former Hackettstown Mayor Michael Lavery assumed the position of state party chair in the spring but resigned last week. Steinhardt said Lavery will serve as general counsel to ...
Posted: November 28, 2017, 10:12 am

Aulik picked as new Kiel City Administrator

Aulik was selected from a field of 10 candidates, including five finalists by Kiel Mayor Michael Steinhardt. The nomination was ratified by a 4-2 vote of the Kiel City Council, with dissenting votes from Jeremy Fromm and William Krueger. Prior to serving ...
Posted: November 29, 2017, 4:35 am

Greek patriarch lobbies Vladimir Putin over Jerusalem lease deal fears

The houses and apartments in question are located on previously church-owned land in the Jerusalem neighborhoods of Givat Oranim (now owned by David Sofer and American billionaire Michael Steinhardt, through Oranim Ltd.), Abu Tor (where Sofer owns half a ...
Posted: December 5, 2017, 7:16 pm
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