The couple was living a happy married life till 2018. He began his profession as a portfolio administrator at SAC Capital and worked at North Sound Capital.. 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. Give the page a little longer to finish Melvin Capital lost 53% on its investments in January 2021 alone. 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. Published. Plotkin Name Meaning & Plotkin Family History at Ancestry.com 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. Taxable trusts and private foundations that are required to file a form 990PF are also included. Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. Melvin Capital Management LP is an American investment management firm based in New York City. 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. Buried in Reddit, the Seeds of Melvin Capital's Crisis 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. Small organizations filing a Form 990N "e-Postcard" are not included in this data. Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. 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 Plotkin got married in 2006 to a lady named Yaara Bank. After college he went to work at the hedge fund Citadel LLC. Want to see how you can enhance your nonprofit research and unlock more insights? [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. spent with my family and on Melvin Capital, which I founded six years ago. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. We leverage finance and accountability data from it to form Encompass ratings. They gained considerably due to the problems faced during the launch of Cyberpunk 2077. proceeded to return all outside capital and established a family office . Gabe has been married to Yara Bank-Plotkin since 2006. 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. He enrolled in courses at Northwestern University. %PDF-1.7 % 1 0 obj The rumors of bankruptcy were found to be untrue. Gabriel was on in Portland, Maine and this is where he grew up. (W99). NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. Gabriel Plotkin sharpened his . Mr. Plotkin is married to Yaara Bank-Plotkin. Cabe Plotkin raised almost a billion dollars for the fund. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? The company's current valuation is $8 billion, reports Daily Mail . Michael Jordan's ownership stake in the NBA's Charlotte Hornets. All Rights Reserved. In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. ProPublica posts new tax forms as they are released by the IRS. 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. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Why is it so difficult to predict events and consequences too far into the future? He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Social Entrepreneur Spotlight: Gabrielle Wyatt Of The Highland Project, Increase Website Performance With Three Metrics, First Look: Jeff Lemire & Gabriel Waltas New Comic Phantom Road Is Stephen King Meets John Carpenter, Artist To Artist Q&A: Gabrielle Cavassa And Sage Bava Riff On The State Of Singing Jazz In 2023, Gabriel Martinelli Becoming The Face Of Arsenals Premier League Title Challenge. <>/Metadata 97 0 R/ViewerPreferences 98 0 R>> GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION - ProPublica GameStop: 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. 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.". Offers may be subject to change without notice. All net worths are calculated using data drawn from public sources. 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 20 highest-earning hedge fund managers and traders made $10.3 billion combined in 2018. Click here to resend it.). Total assets. Melvin Capital - Wikipedia See rating report below to learn why this organization is not currently eligible. He has a generous heart when it comes to helping those who are in need. By 2018 the funds assets under management had ballooned to $3.5 billion. We recognize that not all metrics and beacons equally predict a charitys success. [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ to get more GuideStar Nonprofit Profile data today! After college he went to work at the hedge fund Citadel LLC. Duplicated download links may be due to resubmissions or amendments to an organization's original return. SACs founder,Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. Updated Feb 18, 2021 at 5:13 PM. 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. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. At the end of Q1 2021, Melvin reported losses of 49%. Melvins put positions in the other stocks were much smaller in market price value. The Gabriel and Yaara Plotkin Family Foundation is a private foundation located in New York, NY. The Giving Basket is having some issues. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. to try again. Gabe received his bachelor's degree in economics from Northwestern University. This organization is not listed in the IRS's most recent. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. She is a native New Yorker. He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. 2020. In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. The Form 990 is a document that nonprofit organizations file with the IRS annually. It is known for its short-selling strategies. Your donation attempt encountered a problem. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. 2020. 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. If you wish to donate, please refresh the page. 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. Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop. He also owns property in New York City. The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International. Want to see how you can enhance your nonprofit research and unlock more insights? 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). 5 min read. Gabriel Plotkin Profiles | Facebook In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. This organization has not yet reported any program information. Service. Gabriel Plotkin is an American businessman and entrepreneur who founded Melvin Capital Management LP. During the testimony, Plotkin explained that Melvin Capital shorted GameStop stock because the firm did and still does believe that the retail chains business model is being overtaken by video game downloads. 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. CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. Plotkin founded Melvin Capital in 2014. Gabe Plotkin is the CIO of Melvin Capital. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. He was in charge of managing a portfolio of consumer stocks. From https://projects.propublica.org/nonprofits. Try our monthly plan today. Who Paid The Largest Individual Tax Bill Of All Time? In December 2020 Plotkin purchased 2 adjacent houses in Florida for $44 million. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. 02/11/2022. Gabe's company was worth $12.5 billion before suffering a huge loss. Scientists and philosophers have studied the process of how knowledge is expanded. Copyright. 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. This organization has not provided GuideStar with a mission statement. 2 0 obj Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. Telephone: 2128320400 Gabriel started the venture the board firm in 2014 in New York. The firm ended 2020 with $12.5 billion under management. Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. This data release includes only a subset of what can be found in the full Form 990s. 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. It is now our job to earn it back, he said. 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. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. 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. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. A verification email has been sent to you. 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 . He raised nearly $1 billion. (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. Gabe and Yaara also have two beautiful kids, a son, and a daughter. SAC was fully shuttered in 2016. Plotkin made his first splash when he acquired the Choeff Levy Fischman-designed 6360 North Bay Road and 6342 North Bay Road on Miami Beach in November 2020 for $44 million. Please share any feedback you have about Foundation Directory Online. Melvin did not return a call seeking comment. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. x\[oH~Bl^,>&%q#,LlYlR.<9b5IVyqr#%c.gx/|+;\Yg;n60-kx[_w8bw O';Xl^W)q&b'2iu];s}7vX76G18:6;G_>#v>;.o8~}~^#;T/3sgxq_U'',LV}AVu_Yptr$;y|jS%ncxN{-y/NGFHjp8Ujx3gqKg ,aNuc79Dch#1) Yaara Bank-Plotkin And Gabriel Plotkin Divorce: Family Facts To Know 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. The people, governance practices, and partners that make the organization tick. The fund is led by Founder & CIO Gabriel Gabe Plotkin. There are no subtleties present about Yaara Bank-Plotkins youngsters. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. If the problem persists contact us. Six of those eight companies common stocks surged in price in January. 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. The mission of Children of Fallen Patriots. We welcome all corrections and feedback using the button below. According to Bloomberg, during 2020 Plotkin earned over $800 million in compensation. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. 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 . . 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. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Gabriel Bankier Plotkin - Chief Operating Officer - LinkedIn The firm, which is named after Gabes grandfather, quickly raised $1 billion in capital. Read the IRS instructions for 990 forms. endobj By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. 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). This was about 32% of all the recorded Plotkin's in USA. Toward the end of 2014, Plotkin left SAC to establish his own company. Subsequent to the GameStop short squeeze event, Melvin Capital disclosed that it is the target of at least nine lawsuits relating to its behavior during that period. Plotkin founded Melvin Capital in 2014. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. Gabe Plotkin is the CIO of Melvin Capital. With WallStreetBets' Triumph, Wall Street Warns of Contagion David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com His official title was a trader. This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. How old is Yaara Bank-Plotkin? Two surged around 50 percent through January 27, while three others rose at least 20 percent over the same period. He also said that the fund has an intense focus on the short side (i.e. Yaara doesnt have a Wikipedia page devoted to her yet. 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. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. Gregory Plotkin - Wikipedia Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Mr. Plotkin is married to Yaara Bank-Plotkin. . Taxable trusts and private foundations that are required to file a form 990PF are also included. Melvin Capital head, a Hornets owner, battered in stock swing They have a son named Eytan Shmerel. Melvin Capital founder, Gabriel Plotkin's, testimony before the House Committee on Financial Services regarding the recent GameStop short sell. Why Aren't Donated Clothes Always Given Away for Free? The subreddit users of WallStreetBets took the long position on the stock and rumors of bankruptcy began to circulate. He graduated from Northwestern University with an Economics degree in 2001. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. He was raised in a Jewish household, but not much more about his personal beliefs are known. CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul 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. 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. 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. New York had the highest population of Plotkin families in 1920. See the list , The data powering this website is available programmatically, via an API. 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.
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