Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. Melvin Capital Management LP is an American investment management firm based in New York City. 5 min read. He was raised in a Jewish household, but not much more about his personal beliefs are known. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive (W99). Gabriel was on in Portland, Maine and this is where he grew up. Last Update. 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. 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. According to Wikipedia, Gabriel Plotkin is a college graduate. Privacy Policy Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Your donation attempt encountered a problem. GABRIEL PLOTKIN - FOUNDER & CIO, Tallwoods CAPITAL Children of Fallen Patriots Board of Advisors, Advisor Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firm's Chief Investment Officer. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. If it is your nonprofit, add geographic service areas to create a map on your profile. He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. Taxable trusts and private foundations that are required to file a form 990PF are also included. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. spent with my family and on Melvin Capital, which I founded six years ago. New York had the highest population of Plotkin families in 1920. Family foundations . 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. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions If it is your nonprofit, add a problem overview. Bank was brought up in New York, USA, and her ethnicity is American. They participate in annual support drives for this purpose. Want to see how you can enhance your nonprofit research and unlock more insights? Total revenues. 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. The Highland Project, one of eight organizations in New Profits first Economic Mobility Cohort, is building and co-powering a coalition of Black women leaders focused on addressing the racial wealth gap by driving bold, structural change for Black communities. Gabriel was on in Portland, Maine and this is where he grew up. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. Please refresh the page The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. The couple married in 2006 and are still together. After college he went to work at the hedge fund Citadel LLC. Yaara Bank-Plotkin is the spouse of Gabriel or Gabe Plotkin. Yaaras identity and foundation are kept hidden. Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital's $44 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. short selling).Gabriel Plotkin Melvin capital worth Wife Age, In its first full year in operation, Melvin Capital had returns of 47%, ranking it 2nd in Bloombergs 2015 list of top-performing funds with $1 billion or more in assets under management. }p . Extracted financial data is not available for this tax period, but Form 990 documents are available for download. The firm, which is named after Gabes grandfather, quickly raised $1 billion in capital. Despite the turmoil, Plotkin insisted that the $ 2.75 billion investment Melvin secured from Ken Griffins Citadel and Steve Cohens Point72 in late January was not intended to bail out the fund because it was grappling with heavy casualties. Melvin Capital also contended that rumors of the fund intending to file for bankruptcy are false. There are no subtleties present about Yaara Bank-Plotkins youngsters. Mr. Plotkin is married to Yaara Bank-Plotkin. 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.". Yaara Bank-Plotkin And Gabriel Plotkin Divorce: Family Facts To Know Plotkin Name Meaning & Plotkin Family History at Ancestry.com Plotkin founded Melvin Capital in 2014. The Plotkin family name was found in the USA, and Canada between 1911 and 1920. Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. %PDF-1.7 % 1 0 obj Gabriel and YAARA Plotkin Family Foundation. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Gabriel Plotkin - Forbes Melvins put positions in the other stocks were much smaller in market price value. 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. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? Both are natives of the East Coast. Michael Jordan's ownership stake in the NBA's Charlotte Hornets. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. Gabe has been married to Yara Bank-Plotkin since 2006. 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). Gabriel Plotkin has a rich personal life as well as a busy career. See the list , The data powering this website is available programmatically, via an API. Copyright 2023 Market Realist. 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. Gabe Plotkin Net Worth | Celebrity Net Worth Scientists and philosophers have studied the process of how knowledge is expanded. SACs founder,Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Want to see how you can enhance your nonprofit research and unlock more insights? The 10 Richest Hedge Fund Managers In The World Today. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. These audits are copied from the Federal Audit Clearinghouse. We leverage finance and accountability data from it to form Encompass ratings. [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. 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. In the hedging end of the financial industry, fortunes are made and lost with frequency. Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. See the list , The data powering this website is available programmatically, via an API. 02/11/2022. According to Chabdic, Mr. Plotfin and his wife both Yaara are both passionate about the land of Israel. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. 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. All Rights Reserved. But The Real Deal reports that Plotkin is forging ahead on the renovation of the two Miami Beach, Fla., properties that he bought in 2020 for $44 million, with his attorney going before the Miami Beach Design Review Board to discuss the Melvin Capital founders plans to demolish one of the two properties to make room for a 1,316-square-foot cabana, a playground, and amenity courts. Terms of Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. The most Plotkin families were found in USA in 1920. 2020. What's Gabe Plotkin's Net Worth as Melvin Capital Shutters? to try again. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. Small organizations filing a Form 990N "e-Postcard" are not included in this data. Why is it so hard to define, let alone understand. Both are natives of the East Coast. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. 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. WallStreetBets has a reputation for being rude and rude. Fast-track your prospect research with a Professional plan subscription. They are associated with the Chabad Israel Center. to get more GuideStar Nonprofit Profile data today! According to Forbes, Plotkin earned about $300 million in compensation in 2017, making him the 20th highest-paid hedge fund manager that year. 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. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. 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 filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) Melvin Capital which Plotkin named after his grandfather closed its short position on GameStop at a loss in the last week of January as its stock price climbed to a high of $ 483 per share. July 28, 2021 Why is it so difficult to predict events and consequences too far into the future? The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. Learn more Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. Sign up to get ProPublicas biggest stories delivered straight to your inbox. Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. Contact Information. 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. 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.". This was about 32% of all the recorded Plotkin's in USA. He graduated from Northwestern University with an Economics degree in 2001. And he told the committee that when Reddit users targeted Melvins short positions, some shared offensive posts. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. They have a son named Eytan Shmerel. Try a low commitment monthly plan today. Your email address will not be published. about GuideStar Pro. Plotkin, the founder, and CIO of Melvin is a former trader and consumer stock specialist at Sigma Capital Management, then a division of SAC Capital, where he spent eight years. From https://projects.propublica.org/nonprofits. Since its inception six years ago, Melvin had held the position because the fund believed GameStops business model of selling video games in physical stores was overtaken by digital downloads via the Internet, Plotkin said. Total assets. Be that as it may, her significant other, Gabriel Plotkins total assets is $300 million, reports Forbes. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. Others have sent me equally profane and racist texts. Published. Please share any feedback you have about Foundation Directory Online. He also said that the fund has an intense focus on the short side (i.e. He raised nearly $1 billion. The couple was living a happy married life till 2018. They have a son named Eytan Shmerel. Testimony of Gabriel Plotkin, founder of Melvin Capital Management He began his profession as a portfolio administrator at SAC Capital and worked at North Sound Capital.. The couple married in 2006 and are still together. SAC's founder, Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Gabe Plotkin is the CIO of Melvin Capital. The people, governance practices, and partners that make the organization tick. Analyze a variety of pre-calculated financial metrics Access beautifully interactive analysis and comparison tools He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. If this organization has filed an amended return, it may not be reflected in the data below. Gabriel was on in Portland, Maine and this is where he grew up. Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. SAC was fully shuttered in 2016. Meanwhile, shares of Ollies Bargain Outlet Holdings, another negative bet, rose about 30 percent through January 27. Gabriel Plotkin Biography& Net Worth - TheMediaMunk He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. All Rights Reserved. She is a native New Yorker. 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. Gabe received his bachelor's degree in economics from Northwestern University. You will not find Mr. Plotkin on social media. Sign in or create an account to view Form(s) 990 for 2019 and 2018. endobj She is a native New Yorker. Duplicated download links may be due to resubmissions or amendments to an organization's original return. Hes still in business and going strong. ProPublica posts new tax forms as they are released by the IRS. A former SAC Capital star trader, Gabriel Plotkin started his own fund at the end of 2014, called Melvin Capital Management, named after Plotkin's late grandfather. Melvin Capital lost 53% on its investments in January 2021 alone. Gabriel and Yaara Plotkin Family Foundation In 2017, it's 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). Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. The acquisition valued the Hornets at $1.5 billion. He currently serves as the Chief Investment Officer of the hedge fund that he established. And while I do not think that anyone could have anticipated these events, I have learned much from them, and I am taking steps to protect our investors from anything like this happening in the future.. People may receive compensation for some links to products and services on this website. He is Jewish. f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension. Click here to search for this organization's Forms 990 on the IRS website (if any are available). 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. 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.". Gabe Plotkin Shutters Melvin Capital After GameStop Disaster We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Gabe is a minority owner and alternative governor of the Charlotte Hornets. Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. He covered the shorts and is continuing to move forward in his business despite the loss. The acquisition valued the Hornets at $1.5 billion. 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. David F. Kurd is the firms COO. 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. CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul
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