Your email address will not be published. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . After he graduated from Northwestern, Gabriel accepted a job at SAC Capital. 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. Copyright 2021 Pro Publica Inc. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive They gained considerably due to the problems faced during the launch of Cyberpunk 2077. He graduated from Northwestern University with an Economics degree in 2001. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. The people, governance practices, and partners that make the organization tick. Read the API documentation . In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. 2020. [28]Allegations include Melvins participation in a conspiracy against retail investors, and also that Melvin made misstatements about their role in the conspiracy to the public. Melvin contends that these lawsuits are without merit., Yaara Bank-Plotkin is the spouse of Melvin Capital, originator, and Chief Investment Officer, Gabriel Plotkin. 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. Gregory Plotkin - Wikipedia His compensation after that year's performance was $300 million. May 2016 - Jan 20192 years 9 months. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. $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. Gabriel and YAARA Plotkin Family Foundation. If you have used our data or site in your research or reporting, add credit and a link to Nonprofit Explorer in your story or publication and let us know. 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. The losses were so large that Melvin reportedly had to request a $2.75 billion capital injection from Point72 and Citadel in exchange for the rights to a portion of the funds future revenues. Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923, Total Revenue and Expenses - No Data Available, Salary of Key Persons - No Data Available, IRS Published Data (Business Master File) - Data Available, Data Sources (IRS Forms 990) - Data Available, How to Donate Food and Prevent Food Waste. And while I do not think that anyone could have anticipated these events, I have learned much from them, and I am taking steps to protect our investors from anything like this happening in the future.. Gabriel and Yaara Plotkin Family Foundation. Profile Last Updated: f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n These audits are copied from the Federal Audit Clearinghouse. He graduated from Northwestern University with an Economics degree in 2001. 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. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. The acquisition valued the Hornets at $1.5 billion. Who is Gabe Plotkin's wife? Everything you need to know Scientists and philosophers have studied the process of how knowledge is expanded. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? Melvin's Plotkin says fund follows rules; GameStop frenzy "humbled" him WallStreetBets may seem sophisticated or chaotic from the outside, but the fact that were here today means that theyve been successful in raising important questions about fairness and opportunities in our financial system, Huffman said. After college he went to work at the hedge fund Citadel LLC. 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. Small organizations filing a Form 990N "e-Postcard" are not included in this data. The company's current valuation is $8 billion, reports Daily Mail . Required fields are marked *. CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. 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. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. All Rights Reserved. Last Update. 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. Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. If you would like us to contact you for follow up, please include your name and e-mail address and we will be in touch. 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.. Total assets. 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. Three of them surged in price through late January. These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. He was in charge of managing a portfolio of consumer stocks. Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. The most Plotkin families were found in USA in 1920. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. They have a son named Eytan Shmerel. She is a native New Yorker. CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. Service. }p . Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. 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. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. 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. to get more GuideStar Nonprofit Profile data today! All net worths are calculated using data drawn from public sources. Market Realist is a registered trademark. 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. Gabriel and Yaara Plotkin Family Foundation - Charity Navigator SAC's founder, Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. PDF COMMITTEE ON FINANCIAL SERVICES - House $400 Million. 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. 9. This data release includes only a subset of what can be found in the full Form 990s. 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 . Federal prosecutors alleged that he was the recipient of illegal insider information. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! The couple married in 2006 and are still together. Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. 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. The hedge fund is getting a boost from Citadel LLC and Point72 Asset Management, however. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. . While his coworker was arrested and charged with the crime, Plotkin was not, however, it was alleged that he forwarded multiple emails that contained the illegal information. Toward the end of 2014, Plotkin left SAC to establish his own company. Fast-track your prospect research with a Professional plan subscription. If you have used our data or site in your research or reporting, add credit and a link to Nonprofit Explorer in your story or publication and let us know. <> He currently serves as the Chief Investment Officer of the hedge fund that he established. Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. GameStop Short-Seller Gabe Plotkin To Expand In Miami Beach On January 27 Bloomberg News reported that losses had continued past the 30% reported on January 24 by the WSJ although their sources would not give a specific number as to not upset CIO Gabe Plotkin. 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. In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. We have a lot of analysts, we require a lot out of them. The organizations present valuation is $8 billion, reports Daily Mail. Gabriel Plotkin - Forbes Public, Society Benefit - Multipurpose and Other N.E.C. Gabe Plotkin is the CIO of Melvin Capital. Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul In 1920 there were 60 Plotkin families living in New York. Many of these posts were laced with antisemitic slurs directed at me and others, he said. endobj Terms of According to the Wall Street Journal, Melvin Capital lost 53% on its investments in January 2021 alone. He had previously been one of the most prominent. The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International. You will not find Mr. Plotkin on social media. We welcome all corrections and feedback using the button below. Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital's $44 Yaara Bank-Plotkin is the wife of Gabriel or Gabe Plotkin. See the list , The data powering this website is available programmatically, via an API. He also owns property in New York City. Melvin did not return a call seeking comment. 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. The fund had also repositioned its portfolio according to the source. This was a serious crime. Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. Plotkin founded Melvin Capital in 2014. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. 4 0 obj Click here to resend it.). For those interested in acquiring the original data from the source, heres where our data comes from: Enter a nonprofit's name, a keyword, or city, https://projects.propublica.org/nonprofits. Analyze a variety of pre-calculated financial metrics Access beautifully interactive analysis and comparison tools But this is a rumor, and there is no confirmation about it. This organization is not listed in the IRS's most recent. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. 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. Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. It was recently reported that Yaara filed for divorce after Gabriel lost a huge chunk of his money due to the rise of GameStop's stock prices. When Plotkin was still employed at SAC Capital a scandal broke out. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. It is now our job to earn it back, he said. 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. Sign up to get ProPublicas biggest stories delivered straight to your inbox. Mr. Plotkin is married to Yaara Bank-Plotkin. 2023 Children of Fallen Patriots Foundation. Copyright 2023 Market Realist. Gabriels company suffered a big loss in 2021. Please refresh the page This was about 32% of all the recorded Plotkin's in USA. 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. 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. 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. See the list , The data powering this website is available programmatically, via an API. In early 2021, members of the subreddit r/wallstreetbets built a groundswell of criticism aimed at fund managers like Plotkin who aggressively "shorted" the stock of struggling companies. The Gabriel and Yaara Plotkin Family Foundation is a private foundation located in New York, NY. Please share any feedback you have about Foundation Directory Online. Learn more Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. 2 0 obj Who Paid The Largest Individual Tax Bill Of All Time? 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
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