Gabriel Plotkin, who is also called Gabe Plotkin, is a $400 million hedge fund manager from the United States. This young entrepreneur is a top trader,and he started his own shop in 2014; since then, he has returned some of the most impressive numbers in hedgefunds. Gabe is well known as the founder of Melvin Capital Management, which had a public feud with a group of Redditors over the firm GameStop in 2021. Gabe Plotkin, who is also one of the most respected traders in the hedge fund industry, became one of the most skilled and youthful businessmen in the financial world. He is consistently one of the highest performers in the industry, with many success stories behind him.
Gabe Plotkin education and career
In the year 2001, he had received his bachelor’s degree in economics from Northwestern University. He also started to work for the hedge firm Citadel LLC after graduating from college. In addition, he worked for North Sound Capital and SAC Capital, all of which are situated in Connecticut. At SAC Capital, he oversaw a $1.3 billion consumer stock portfolio.
Gabe Plotkin formed Melvin Capital Management in the year 2014. The company, which bears Gabe’s grandfather’s name, soon received $1 billion in funding. Melvin had achieved a 47 percent return on assets in its first full year of operation, making it the world’s second-best performing hedge fund (among hedge funds with more least $1 billion in assets under management). After that year’s performance, he received $300 million in compensation.
Gabe Plotkin wanted the company to reflect his grandfather’s integrity, hard labor, customer and employee care, and dedication to excellence. Melvin Capital is a hedge fund management firm that manages all the hedge funds. Academic institutions, medical research and other benevolent foundations, pension funds, retirees, and others are among the investors of Melvin Capital. Moreover, Gabe feels a personal responsibility to all of the company’s 36 workers and hundreds of investors.
According to Forbes, Gabe Plotkin was paid almost $300 million in 2017, making him the 20th highest-paid hedge fund manager at the time. Gabriel Plotkin acquired $44 million for neighboring properties in Florida in December 2020.In the year 2019, Plotkin obtained a minority stake in the Charlotte Hornets from Michael Jordan. Gabriel Plotkin made approximately $800 million in salary in 2020, according to Bloomberg.