Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Telephone: 2128320400 Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. He still manages assets of around $12.5 billion through Melvin Capital. 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. %PDF-1.7 % 1 0 obj All net worths are calculated using data drawn from public sources. According to Chabdic, Mr. Plotfin and his wife both Yaara are both passionate about the land of Israel. . Yaara had petitioned for the separation, and the explanation was hopeless contrasts between the two. 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. Gabe Plotkin got married in 2006 to a lady named Yaara Bank. Gregory Plotkin - Wikipedia The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. Gabriel and Yaara Plotkin Family Foundation At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. Gabriel was on in Portland, Maine and this is where he grew up. Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). The Foundation supports Chabad Israel Center and made 11 grants last year. Small organizations filing a Form 990N "e-Postcard" are not included in this data. New York had the highest population of Plotkin families in 1920. Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. He was raised in a Jewish household, but not much more about his personal beliefs are known. to try again. He also owns property in New York City. Melvin became a prime target for newbie traders on Reddits WallStreetBets forum because he had taken a short position on GameStop, meaning he was betting the struggling video game retailers share price was going to lower. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. The fund is led by Founder & CIO Gabriel Gabe Plotkin. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Ratings are calculated from one or more beacon scores. by Bana Miller. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Leadership & Adaptability methodology because we have not received data from the charity regarding its leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes.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. 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. 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 founded Melvin Capital, after leaving SAC during the insider trading blowup, in late 2014, naming the fund after his late grandfather who was a small-business owner. He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. The subreddit users of WallStreetBets took the long position on the stock and rumors of bankruptcy began to circulate. 9. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. Copyright. Try our monthly plan today. Gabriel Bankier Plotkin - Chief Operating Officer - LinkedIn Its users frequently refer to themselves as latecomers an offensive insult to people with intellectual disabilities and Keith Gill, the Redditor credited with leading the GameStop rally, goes by DeepF-value on the forum. He had previously been one of the most prominent. We have a lot of analysts, we require a lot out of them. The couple married in 2006 and are still together. This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. 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. According to Forbes, Plotkin earned about $300 million in compensation in 2017, making him the 20th highest-paid hedge fund manager that year. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. This shows that Mr. Plotkin has a strong sense of his Jewish roots and loyalty to the people who live in his local community as well as for his ancestral ties to Israel. 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.". Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop. But this is a rumor, and there is no confirmation about it. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> (Don't see an email in your inbox? While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. 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). This data release includes only a subset of what can be found in the full Form 990s. 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. SAC was fully shuttered in 2016. Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. May 19, 2022. In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension. 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 IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Culture & Community methodology because we have not received data from the charity regarding its Constituent Feedback or Equity Practices strategies.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. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. Check back later to see if this organization has a rating history! Duplicated download links may be due to resubmissions or amendments to an organization's original return. CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul 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. Melvin did not return a call seeking comment. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . Buried in Reddit, the Seeds of Melvin Capital's Crisis Just two of the stocks prices did not move in a meaningful manner. (W99). The couple married in 2006 and are still together. Gabe Plotkin Shutters Melvin Capital After GameStop Disaster [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. The Internal Revenue Service is substantially delayed in processing and releasing nonprofit filings, so documents available here may not be the most recent an organization has filed. Try a low commitment monthly plan today. Yaara doesnt have a Wikipedia page devoted to her yet. He also owns property in New York City. After college he went to work at the hedge fund Citadel LLC. No wonder he told a congressional committee the experience humbled him. He covered the shorts and is continuing to move forward in his business despite the loss. Gabriel Jesus signed for Arsenal from Manchester City this summer and has made an instant impact for his new club. According to the same WSJ article, Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. Click on the link in that email Why is it so difficult to predict events and consequences too far into the future? 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. Net Worth. Numerous searches have not turned up any official social media accounts that are accessible by the public. He graduated from Northwestern University with an Economics degree in 2001. The total assets subtleties and the subtleties of Yaara Bank-Plotkins compensation and profit are kept hidden. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Gabriel Plotkin has a rich personal life as well as a busy career. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. David F. Kurd is the firms COO. Gabe is 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. Click here to search for this organization's Forms 990 on the IRS website (if any are available). They have a son named Eytan Shmerel. The acquisition valued the Hornets at $1.5 billion. (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) They have a son named Eytan Shmerel. He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. The couple was living a happy married life till 2018. Our projects result in quantifiable . Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. Location 345 Park Ave New York City, NY 10154-0004 United States. 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. When Plotkin was still employed at SAC Capital a scandal broke out. These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. Gabe has been married to Yara Bank-Plotkin since 2006. All Rights Reserved. The rumors of bankruptcy were found to be untrue. BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. Profile Last Updated: The most well-known incident involving Gabe was the founding of Melvin Capital Management, which engaged in a public argument with a group of Reddit users in 2021 over the firm GameStop. Fast-track your prospect research with a Professional plan subscription. And how will we know when we see it? One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10019 EIN: 46-4942784 This organization is not listed in the IRS's most recent list of tax exempt organizations, but we have data. Copyright 2021 Pro Publica Inc. By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. Offers may be subject to change without notice. This organization has no recorded board members. In its initial 13F filing covering the fourth quarter and publicly disclosed in mid-February, Melvin had listed eight stocks for which it held put options.Gabriel Plotkin. By 2018 the funds assets under management had ballooned to $3.5 billion. 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). And he told the committee that when Reddit users targeted Melvins short positions, some shared offensive posts. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Toward the end of 2014, Plotkin left SAC to establish his own company. Six of those eight companies common stocks surged in price in January. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. We leverage finance and accountability data from it to form Encompass ratings. endobj NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. Many of these posts were laced with antisemitic slurs directed at me and others, he said. And what they have learned has lessons for understanding where generative AI models may go. [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. Gabriel Plotkin Profiles | Facebook 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 . Access lists of funders based on detailed search criteria and other features such as: Copyright 2023 Candid. Gabe is a minority owner and alternative governor of the Charlotte Hornets. 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.". Gabriel and Yaara Plotkin Family Foundation - Charity Navigator He currently serves as the Chief Investment Officer of the hedge fund that he established. The common stock of Ligand Pharmaceuticals, Melvins second-largest put position among this new group, nearly doubled for the month through January 28. People may receive compensation for some links to products and services on this website. In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. According to The Wall Street Journal, about one-third of the gains in 2019 from Steve Cohens current hedge fund, Point72, came from Melvin Capital Management LP. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. Privacy Policy But Reddit CEO Steve Huffman defended WallStreetBets in his prepared testimony, saying the 9.1 million-member message board is an online community with significant depth.. Required fields are marked *. Melvin Capital head, a Hornets owner, battered in stock swing Public, Society Benefit - Multipurpose and Other N.E.C. 5 min read. CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. The mission of Children of Fallen Patriots. The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. 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. The Plotkin family name was found in the USA, and Canada between 1911 and 1920. 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. But on Wednesday, Melvin filed an amended version of the document disclosing that as of December 31 it held put positions in an additional eight companies not previously known. The acquisition valued the Hornets at $1.5 billion. SAC was fully shuttered in 2016. You will not find Mr. Plotkin on social media. We learned from WikiProject Topics some facts about Gabriel Plotkins early years. GABRIEL PLOTKIN Children of Fallen Patriots Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. Michael Jordan's ownership stake in the NBA's Charlotte Hornets. He started his career under Ken . Notwithstanding, neither Yaara Bank-Plotkin nor Gabriel Plotkin has affirmed or denied the gossip about their separation. Gabriel Plotkin Biography& Net Worth - TheMediaMunk 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. He graduated from Northwestern University with an Economics degree in 2001. View the profiles of people named Gabriel Plotkin. The blow-up resulted in Point72 Asset Management and Citadel pumping $2.75 billion into Melvins hedge fund to shore up its finances. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. These audits are copied from the Federal Audit Clearinghouse. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. He currently serves as the Chief Investment Officer of the hedge fund that he established. 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. He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. Officers, directors, trustees, and key employees, Analyze a variety of pre-calculated financial metrics, Access beautifully interactive analysis and comparison tools, Compare nonprofit financials to similar organizations, Revenue and expense data for the current fiscal year, CEO, Board Chair, and Board of Directors information, *with the ability to download the data for 2019, 2018. Melvin Capital CEO Gabriel Plotkin delivers his opening statement. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Prior to starting Melvin Capital, Plotkin was a trader at Steve Cohens SAC Capital, where he managed a portfolio of mostly consumer stocks valued at about $1.3 billion. GameStop Short-Seller Gabe Plotkin To Expand In Miami Beach According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Contact Information. [18] Users of the subreddit r/WallStreetBets made widespread bets that GameStops stock would increase in value. Melvin Capital CEO: We were not 'bailed out' by Citadel - CNBC The 10 Richest Hedge Fund Managers In The World Today. Save my name, email, and website in this browser for the next time I comment. It is now our job to earn it back, he said. f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n <> In February, Melvin posted a 22% gain; even with this addition, Melvin will need to produce an additional 75% gain for earlier clients before they break even. Published. He was called Portfolio Manager B in the scandal. A verification email has been sent to you. Terms of At the end of Q1 2021, Melvin reported losses of 49%. 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 . The firm ended 2020 with $12.5 billion under management. Click here to resend it.). ynfx9/EYQ 7dM2gcAs~/cojcbD? Who is Gabe Plotkin's wife? Everything you need to know In his testimonypublished online by The Washington PostPlotkin admitted that he was far removed from his background growing up in a middle-class family in Portland, Maine, and going to public high school. It is its type of kindness that makes the world a better place to live. Mr. Plotkin is married to Yaara Bank-Plotkin. Gabriel Plotkin has a rich personal life as well as a busy career. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. All Rights Reserved. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Already have a GuideStar Account? That's a big number, but it is still the lowest such combined earnings figure since the financial crisis. $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. If the problem persists contact us. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Read the IRS instructions for 990 forms. 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. Be that as it may, her significant other, Gabriel Plotkins total assets is $300 million, reports Forbes. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. Plotkin founded Melvin Capital in 2014.
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