David Einhorn

David Einhorn
David Einhorn (Bloomberg.com)

David Einhorn is the Founder and President of Greenlight Capital. Einhorn was born and raised in New Jersey until age seven when his family moved to Wisconsin. He graduated from Cornell University summa cum laude with a Bachelor of Arts in Government.

Einhorn started Greenlight Capital in 1996 with just under $1 million ($900,000). A hedge fund company, Greenlight has been good historically for their clients generating about 20% return annually. Einhorn has made news in the past for openly short selling Allied Capital, Lehman Brothers and Green Mountain Coffee Roasters stock.

Aside from Greenlight Capital, Einhorn has also served as a director for New Century Financial Corp. Einhorn held the position from March 2006 until March 2007 when he then resigned.

In May of 2011, Einhorn’s name was linked to the New York Mets. It was reported that he was in negotiations with the team to buy a minority stake in the team. On May 26th, Einhorn agreed to buy the minority share for $200 million. The deal gave Einhorn the option to purchase a majority stake in the Mets after three years if certain circumstances arose. However, in September of 2011, the Mets announced they had ended negotiations with Einhorn.

As a philanthropist, David Einhorn as a board member to the Michael J. Fox Foundation. Einhorn participated in the World Series of Poker Main Event in 2006 finishing 18th out of a field that started with 8,773 players. He was rewarded with $659,730 for his finish in which he donated all of it to the Michael J. Fox Foundation. Einhorn also sits on the board of the Robin Hood Foundation, a foundation designed to help support those who suffer from poverty in New York City. Einhorn kept his word from his book, Fooling Some of the People All the Time, when he promised he would donate all of the general partner’s profits from the shorting of Allied Capital to charity. The total resulted in $6 million which was split amongst Tomorrows Children’s Fund, The Project on Government Oversight and the Center for Public Integrity. Einhorn again participated in the World Series of Poker in 2012. This time it was the Big One for One Drop Tournament in which he finished in third place winning $4.3 million and donating all of it to City Year.

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