However, during January 2021, he reportedly lost $460 million due to his funds collapsing. 2023 Forbes Media LLC. He graduated from Northwestern University with an Economics degree in 2001. He also owns property in New York City. The stock would rise another 13 percent before peaking on February 9. 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. 9. Read the API documentation . 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. What's Gabe Plotkin's Net Worth as Melvin Capital Shutters? . The losses were so large that Melvin reportedly had to request a $2.75 billion capital injection from Point72 and Citadel in exchange for the rights to a portion of the fund's future revenues. Gabe Plotkin is the CIO of Melvin Capital. Gregory Plotkin - Wikipedia Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. The Form 990 is a document that nonprofit organizations file with the IRS annually. Both are natives of the East Coast. 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. Melvin Capital CEO Gabriel Plotkin delivers his opening statement. endobj He also said that the fund has an intense focus on the short side (i.e. Service. Read the API documentation . After college he went to work at the hedge fund Citadel LLC. Key Persons data is currently unavailable for this organization. The Giving Basket is having some issues. 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. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. 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. If you wish to donate, please refresh the page. You're faster than our page! Total expenses. 2 0 obj Already have a GuideStar Account? Melvins put positions in the other stocks were much smaller in market price value. Read the full story . The fund had also repositioned its portfolio according to the source. 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). Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Gabe has been married to Yara Bank-Plotkin since 2006. One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. In the hedging end of the financial industry, fortunes are made and lost with frequency. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. Terms of Gabe is 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. Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. We leverage finance and accountability data from it to form Encompass ratings. How old is Yaara Bank-Plotkin? Cabe Plotkin raised almost a billion dollars for the fund. Note: The absence of a rating does not indicate a positive or negative assessment; it only indicates that we have not yet evaluated this organization. Fast-track your prospect research with a Professional plan subscription. Gabe Plotkin got married in 2006 to a lady named Yaara Bank. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization. Last Update. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Gabe Plotkin Shutters Melvin Capital After GameStop Disaster For those interested in acquiring the original data from the source, heres where our data comes from: Enter a nonprofit's name, a keyword, or city, https://projects.propublica.org/nonprofits. She is a native New Yorker. Plotkin Name Meaning & Plotkin Family History at Ancestry.com Grant Information Last Updated: f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n These audits are copied from the Federal Audit Clearinghouse. With WallStreetBets' Triumph, Wall Street Warns of Contagion In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. In 2017, the fund finished up 41%. From https://projects.propublica.org/nonprofits. 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. Both are natives of the East Coast. In January, Ken Griffins Citadel and Steve Cohens Point72 invested $2.75 billion in Melvin in exchange for non-controlling revenue shares of the fund. At the end of Q1 2021, Melvin reported losses of 49%. 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. Contact Information. The specific age, date of birth, and zodiac indication of Yaara are absent to people in general yet. 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.". According to Forbes, Plotkin earned about $300 million in compensation in 2017, making him the 20th highest-paid hedge fund manager that year. Total assets. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. Melvin did not return a call seeking comment. . Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital's $44 And he told the committee that when Reddit users targeted Melvins short positions, some shared offensive posts. Duplicated download links may be due to resubmissions or amendments to an organization's original return. This data is only available if this charity has at least one year of electronically-filed Form 990 data filed within the last six years. Who Paid The Largest Individual Tax Bill Of All Time? Submit a correction suggestion and help us fix it! Gabriel Jesus signed for Arsenal from Manchester City this summer and has made an instant impact for his new club. SAC's founder, Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. This was not long after the legal trouble and allegations of wrongdoing by the SEC. Gabriel Plotkin Profiles | Facebook SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. See the list , The data powering this website is available programmatically, via an API. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. All net worths are calculated using data drawn from public sources. The couple married in 2006 and are still together. 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. He has literally no presence on social media on any of the platforms. All Rights Reserved. GameStop Short-Seller Gabe Plotkin To Expand In Miami Beach Melvin Capital Founder Gabriel Plotkin Reportedly Lost $460 Million in Short Squeeze By Dan Clarendon Feb. 23 2021, Published 10:59 a.m. Your email address will not be published. There are no subtleties present about Yaara Bank-Plotkins youngsters. The steep decline had largely been attributed to a Reddit-fueled assault on heavily shorted stocks including GameStop, which bludgeoned short-sellers like Melvin and other hedge fund firms. ET The net worth of Gabriel Plotkin reportedly took a. The fund is led by Founder & CIO Gabriel Gabe Plotkin. GameStop was just one of the shorts that went south on the company. Sign in. He still manages assets of around $12.5 billion through Melvin Capital. 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. The most Plotkin families were found in USA in 1920. Gabriel was on in Portland, Maine and this is where he grew up. proceeded to return all outside capital and established a family office . Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. The people, governance practices, and partners that make the organization tick. The firm, which is named after Gabes grandfather, quickly raised $1 billion in capital. 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. Meanwhile, shares of Ollies Bargain Outlet Holdings, another negative bet, rose about 30 percent through January 27. The 10 Richest Hedge Fund Managers In The World Today. Gabe's company was worth $12.5 billion before suffering a huge loss. Others have sent me equally profane and racist texts. See the list , The data powering this website is available programmatically, via an API. 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. They participate in annual support drives for this purpose. He is Jewish. His compensation after that years performance was $300 million. ProPublica posts new tax forms as they are released by the IRS. We have a lot of analysts, we require a lot out of them. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. This organization has no recorded board members. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. Click on the link in that email Plotkin founded Melvin Capital, after leaving SAC during the insider trading blowup, in late 2014, naming the fund after his late grandfather who was a small-business owner. The Plotkin family name was found in the USA, and Canada between 1911 and 1920. Yaara Bank-Plotkin is the wife of Gabriel or Gabe Plotkin. But Reddit CEO Steve Huffman defended WallStreetBets in his prepared testimony, saying the 9.1 million-member message board is an online community with significant depth.. 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 . (BMF affiliation code: 3). The couple engages in some of their favorite activities with their son including sporting events and petting zoos, like any other family, but they feel a strong sense of community and they are dedicated to doing what they can to support the Jewish Community through their efforts in a partnership with Chabad. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. He had previously been one of the most prominent. BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. Gabriel and Yaara Plotkin Family Foundation CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. They have a son named Eytan Shmerel. In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. Why is it so hard to define, let alone understand. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Want to see how you can enhance your nonprofit research and unlock more insights? He covered the shorts and is continuing to move forward in his business despite the loss. Updated Feb 18, 2021 at 5:13 PM. Two other firms invested . 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. Chicago. [28]Allegations include Melvins participation in a conspiracy against retail investors, and also that Melvin made misstatements about their role in the conspiracy to the public. Melvin contends that these lawsuits are without merit., Yaara Bank-Plotkin is the spouse of Melvin Capital, originator, and Chief Investment Officer, Gabriel Plotkin. <>/Metadata 97 0 R/ViewerPreferences 98 0 R>> Be that as it may, her significant other, Gabriel Plotkins total assets is $300 million, reports Forbes. 2020. 4 0 obj 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. Please share any feedback you have about Foundation Directory Online. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. Hedge Fund Manager. 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. 2020. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. Melvin's Plotkin says fund follows rules; GameStop frenzy "humbled" him We welcome all corrections and feedback using the button below. May 19, 2022. 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 posts said things like, Its very clear we need a second Holocaust. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Leadership & Adaptability methodology because we have not received data from the charity regarding its leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes.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. Profile Last Updated: Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. By 2018 the fund's assets under management had ballooned to $3.5 billion. Read the IRS instructions for 990 forms. From https://projects.propublica.org/nonprofits. NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. Buried in Reddit, the Seeds of Melvin Capital's Crisis She is a native New Yorker. When Plotkin was still employed at SAC Capital a scandal broke out. Testimony of Gabriel Plotkin, founder of Melvin Capital Management Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ Published. Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923, Total Revenue and Expenses - No Data Available, Salary of Key Persons - No Data Available, IRS Published Data (Business Master File) - Data Available, Data Sources (IRS Forms 990) - Data Available, How to Donate Food and Prevent Food Waste. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. This organization has not provided GuideStar with a mission statement. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. If it is your nonprofit, add geographic service areas to create a map on your profile. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. He was raised in a Jewish household, but not much more about his personal beliefs are known. Fearless Fund Invests $1.34 Million Into Gabrielle Unionss Bitsys, Heron Preston Taps Gabriel Moses In Defining His Language Of Workwear, The Gabrielle Chanel Parfum Is Newly Unveiled, GameStop Short Seller Says Reddit Trolls Targeted Him With Anti-Semitic Harassment, The Highest-Earning Hedge Fund Managers And Traders, Highest-Earning Hedge Fund Managers & Traders 2019, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 10 Things You Didn't Know About Gabriel Plotkin - Money Inc 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. Gabe Plotkins Melvin Capital Management late Wednesday provided new insight into negative positions the firm held at year-end that may have contributed to its stunning 53 percent loss in January. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. Gabriel Plotkin has a rich personal life as well as a busy career. 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. 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. Gabe is a minority owner and alternative governor of the Charlotte Hornets. Mr. Plotkin is married to Yaara Bank-Plotkin. Two surged around 50 percent through January 27, while three others rose at least 20 percent over the same period. It is now our job to earn it back, he said. View the profiles of people named Gabriel Plotkin. Plotkin's firm, Melvin Capital, lost roughly 30% of its assets in stock-shorting bets, including video game retailer GameStop, according to the Wall Street Journal. People may receive compensation for some links to products and services on this website. Gabriel and Yaara got married in the year 2006. They have a son named Eytan Shmerel. The couple was living a happy married life till 2018. Plotkin founded Melvin Capital in 2014. Scientists and philosophers have studied the process of how knowledge is expanded. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. The mission of Children of Fallen Patriots. He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Melvin Capital also contended that rumors of the fund intending to file for bankruptcy are false. . 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. Federal prosecutors alleged that he was the recipient of illegal insider information. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. GABRIEL PLOTKIN Children of Fallen Patriots While his coworker was arrested and charged with the crime, Plotkin was not, however, it was alleged that he forwarded multiple emails that contained the illegal information. All Rights Reserved. Melvin Capital lost 53% on its investments in January 2021 alone. This was about 32% of all the recorded Plotkin's in USA. 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. (W99). He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Yaara Bank-Plotkin is the spouse of Gabriel or Gabe Plotkin. Gabriel Plotkin - Melvin capital worth, Wife, Age - RoseWe Store There is no way of knowing from public documents how long Melvin held these options positions, whether Melvin increased or decreased its bets throughout the month, or if it also had outright short positions on any of the stocks. In 1920 there were 60 Plotkin families living in New York. Give the page a little longer to finish For those interested in acquiring the original data from the source, heres where our data comes from: Enter a nonprofit's name, a keyword, or city, https://projects.propublica.org/nonprofits. Join Facebook to connect with Gabriel Plotkin and others you may know. about GuideStar Pro. He started his career under Ken . Two bright young jazz singers, Gabrielle Cavassa and Sage Bava, meet to discuss being a jazz singer in 2023 and what the music means to them. He was called Portfolio Manager B in the scandal. Melvin Capital Management Founder and Chief Investment Officer Joins Mr. Plotkin is married to Yaara Bank-Plotkin. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> The net worth of Gabriel Plotkin reportedly took a beating earlier in January as Reddit users took aim as his Melvin Capital Management in a headline-making short squeeze of GameStop stock (NYSE: GME). Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. Tradewater. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. They have a son named Eytan Shmerel. Melvin Capital: In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Six of those eight companies common stocks surged in price in January. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. In any case, shares of ViacomCBS, Melvins largest put position among the newly revealed eight, rose roughly 50 percent for the month through January 27. Toward the end of 2014, Plotkin left SAC to establish his own company. 02/11/2022. 5. 2023 Celebrity Net Worth / All Rights Reserved. Gabe Plotkin is the CIO of Melvin Capital. Privacy Policy This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Facebook gives people the power. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION - ProPublica You've probably heard what went. At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. Gabriel Plotkin, CEO of Melvin Capital Management, testifies before Congress (YouTube snapshot) Melvin Capital, the hedge fund belonging to Gabe Plotkin, is shutting down . BOSTON (Reuters) - Gabriel Plotkin will on Thursday explain his hedge fund's massive losses in the GameStop trading frenzy, and he plans to tell U.S. lawmakers that Melvin Capital Management follows securities laws, does not manipulate stocks and conducts extensive research before making bets.
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