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Revision as of 12:03, 28 October 2010

For the mathematician, see Daniel Elliott Loeb.

Daniel Seth Loeb is an American hedge fund manager and founder of Third Point LLC, a New York based hedge fund managing over $5.5 billion in assets . Loeb is well known in the financial world for writing public letters in which he expresses disapproval of the performance and conduct of other financial executives . Supporters contend his letter writing is effective shareholder activism; critics counter that his letters are distracting for executives and uncomfortable for investors . Less than 10% of Third Point's $5.5 billion goes to shareholder activism .

Loeb is a graduate of Columbia University; prior to founding Third Point he worked at Citicorp . In addition, Loeb reportedly enjoys art collecting, yoga and surfing . In 2005, Loeb achieved a 500% profit when he sold a painting by Martin Kippenberger. Loeb made a fact that the American government is under a 'crisis of leadership' in terms of finances.

Biography

According to Bloomberg Markets Magazine, Loeb grew up in Santa Monica Canyon in California, where he was an avid surfer and astute investor from a young age. One of three children of his father, an attorney, and his mother, a historian, he attended Palisades Charter High School, which was known more commonly at the time as "Pali High" in Pacific Palisades, which is also near Los Angeles. Later he attended University of California at Berkeley and Columbia University.

Wealth

Loeb's 2005 compensation was $150 million. Loeb's 2006 compensation was $200 million. Loeb's 2007 compensation was $270 million. In 2005, Loeb purchased a $45 million, 10,000 sq ft (930 m) penthouse, at 15 Central Park West in Manhattan .

References

  1. America faces 'crisis of leadership', leading Wall St investor warns

External links

Public letters

Third Point

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