Small organizations filing a Form 990N "e-Postcard" are not included in this data. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. We welcome all corrections and feedback using the button below. Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. Workwear has been the catalyst for designer Heron Preston, launching his brand in 2016 through an inspired eye that identified blue-collar workers of New York City as "style icons" and "the faces of fashion.". Published. Organizations making less than $50,000 dont have to file either form but do have to let the IRS theyre still in business via a Form 990N "e-Postcard.". * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. The most Plotkin families were found in USA in 1920. Gabriel and YAARA Plotkin Family Foundation. Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ 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. You're faster than our page! Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. His official title was a trader. Best Items to Donate to an Animal Shelter, Donors Prefer Charities that Earn All Four Beacons, Learn more about the BMF on the IRS website, Click here to search for this organization's Forms 990 on the IRS website. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Melvin Capital Management founder Gabe Plotkin, a major short-seller of GameStop, is proposing to knock down one of the Miami Beach homes he purchased last year and expand his waterfront. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. 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. At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. Learn more about the BMF on the IRS website, Private non-operating foundation (BMF foundation code: 04), Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). The Foundation is supported by Plotkin Family 2016 Grantor Clat. Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. <>stream Melvin Capital CEO Gabriel Plotkin delivers his opening statement. Buried in Reddit, the Seeds of Melvin Capital's Crisis The blow-up resulted in Point72 Asset Management and Citadel pumping $2.75 billion into Melvins hedge fund to shore up its finances. Gabriel Plotkin has a rich personal life as well as a busy career. $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. Celebrity Net Worth reports Plotkins net worth is $400 million, suggesting a change in fortune for a man who enjoyed $850 million in earnings last year. spent with my family and on Melvin Capital, which I founded six years ago. These included GameStop, AMC Networks, Cryoport, First Majestic Silver, GSX Techedu, and Simon Property Group. Market Realist is a registered trademark. The short position adopted by Melvin Capital and others resulted in more than 139% percent of existing shares of GME being shorted, making GameStop stock the most shorted equity in the world. Granted, Melvin went through a rough patch, but weve always had an excess margin, and we werent looking for an injection of cash, he said. Fast-track your prospect research with a Professional plan subscription. . Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. Melvin Capital's Gabriel Plotkin has been in the news quite a bit recently after his hedge fund may have posted a loss in the billions in the stock market shorting GameStop. She is a native New Yorker. Yaara Bank-Plotkin is the spouse of Gabriel or Gabe Plotkin. The stock would rise another 13 percent before peaking on February 9. 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. Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. We recognize that not all metrics and beacons equally predict a charitys success. GameStop Short-Seller Gabe Plotkin To Expand In Miami Beach In fact, Bloomberg reports that Plotkin went from making about $850 million in 2020and ranking among the top 15 hedge fund managersto losing an estimated $460 million as Melvin Capital lost 53 percent in January. While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. Submit a correction suggestion and help us fix it! Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. 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). Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. 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. Melvin Capital Management LP is an American investment management firm based in New York City. He also owns property in New York City. She is a native New Yorker. Sign up to get ProPublicas biggest stories delivered straight to your inbox. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. According to Bloomberg, during 2020 Plotkin earned over $800 million in compensation. Register now. We have a lot of analysts, we require a lot out of them. When Plotkin was still employed at SAC Capital a scandal broke out. In January, Ken Griffins Citadel and Steve Cohens Point72 invested $2.75 billion in Melvin in exchange for non-controlling revenue shares of the fund. Updated Feb 18, 2021 at 5:13 PM. Telephone: 2128320400 Melvin's Plotkin says fund follows rules; GameStop frenzy "humbled" him Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. Gabriel Plotkin Biography& Net Worth - TheMediaMunk 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.. The redditers banded together to perform a short squeeze, where the price of the stock is sent rocketing upward, causing the short sellers to lose massive amounts of money very quickly. This was a serious crime. He established Melvin Capital, a fund that was named in honor of his late grandfather. to try again. [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. 2020. In the hedging end of the financial industry, fortunes are made and lost with frequency. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. Profile Last Updated: Total revenues. Net Worth. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. However, during January 2021, he reportedly lost $460 million due to his funds collapsing. It is now our job to earn it back, he said. 2 0 obj May 2016 - Jan 20192 years 9 months. proceeded to return all outside capital and established a family office . loading and try your donation again. Notwithstanding, neither Yaara Bank-Plotkin nor Gabriel Plotkin has affirmed or denied the gossip about their separation. 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 funds future revenues. This was about 32% of all the recorded Plotkin's in USA. The steep decline had largely been attributed to a Reddit-fueled assault on heavily shorted stocks including GameStop, which bludgeoned short-sellers like Melvin and other hedge fund firms. Scientists and philosophers have studied the process of how knowledge is expanded. The couple engages in some of their favorite activities with their son including sporting events and petting zoos, like any other family, but they feel a strong sense of community and they are dedicated to doing what they can to support the Jewish Community through their efforts in a partnership with Chabad. From https://projects.propublica.org/nonprofits. Founder and CEO of Melvin Capital (from 2014-2022) Net worth: $400 million (estimated) Before Melvin Capital, Plotkin worked at SAC Capital under Steve Cohen. 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. 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. He also owns property in New York City. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. $5,131,925. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. Testimony of Gabriel Plotkin, founder of Melvin Capital Management Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. 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. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Taxable trusts and private foundations that are required to file a form 990PF are also included. Reuters identified Plotkin as the so-called Portfolio Manager B in the Securities and Exchange Commissions civil complaint against Michael Steinberg, a fellow SAC PM who was arrested on charges he traded Dells earnings based on insider information. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. 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. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. 2023 Forbes Media LLC. In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension. The 20 highest-earning hedge fund managers and traders made $10.3 billion combined in 2018. This organization is required to file an IRS Form 990-PF. Chicago. Copyright 2023 Market Realist. The couple married in 2006 and are still together. Gabriel Plotkin sharpened his . Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923, Total Revenue and Expenses - No Data Available, Salary of Key Persons - No Data Available, IRS Published Data (Business Master File) - Data Available, Data Sources (IRS Forms 990) - Data Available, How to Donate Food and Prevent Food Waste. American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. <>/Metadata 97 0 R/ViewerPreferences 98 0 R>> Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. Yaara Bank-Plotkin And Gabriel Plotkin Divorce: Family Facts To Know Both are natives of the East Coast. By 2018 the fund's assets under management had ballooned to $3.5 billion. Gabriel Plotkin - Forbes Yaaras identity and foundation are kept hidden. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. All Rights Reserved. . Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Mr. Plotkin is married to Yaara Bank-Plotkin. This is a calculated risk that can happen at any time, and all hedge betters realize that there is no such thing as a sure deal, so they have contingency plans. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. There is no way of knowing from public documents how long Melvin held these options positions, whether Melvin increased or decreased its bets throughout the month, or if it also had outright short positions on any of the stocks.
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