She is a native New Yorker. Melvins put positions in the other stocks were much smaller in market price value. 2023 Forbes Media LLC. He began his profession as a portfolio administrator at SAC Capital and worked at North Sound Capital.. Your donation attempt encountered a problem. Facebook gives people the power. The 10 Richest Hedge Fund Managers In The World Today. Taxable trusts and private foundations that are required to file a form 990PF are also included. Sign up to get ProPublicas biggest stories delivered straight to your inbox. Gabriel and Yaara Plotkin Family Foundation 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). Mr. Plotkin is married to Yaara Bank-Plotkin. Access lists of funders based on detailed search criteria and other features such as: Copyright 2023 Candid. 2020. If you have used our data or site in your research or reporting, add credit and a link to Nonprofit Explorer in your story or publication and let us know. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. Terms of 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. Save my name, email, and website in this browser for the next time I comment. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. Notwithstanding, neither Yaara Bank-Plotkin nor Gabriel Plotkin has affirmed or denied the gossip about their separation. 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.". Scientists and philosophers have studied the process of how knowledge is expanded. From https://projects.propublica.org/nonprofits. Read the API documentation . By 2018 the fund's assets under management had ballooned to $3.5 billion. A Sony Pictures exibiu no seu painel na CinemaCon na Segunda (24) as primeiras cenas de "Dumb Money", do diretor de "Eu, Tonya" e "Cruella", Craig Gillespie, uma comdia biogrfica baseada no livro 'The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees', de Ben Mezrich. Mr. Plotkin is married to Yaara Bank-Plotkin. SAC was fully shuttered in 2016. 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. I named Melvin after my grandfather, who ran a convenience store. He was in charge of managing a portfolio of consumer stocks. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. Grant Information Last Updated: No wonder he told a congressional committee the experience humbled him. Why is it so hard to define, let alone understand. Yaaras identity and foundation are kept hidden. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. Gabriel started the venture the board firm in 2014 in New York. Gabriel Plotkin is an American businessman and entrepreneur who founded Melvin Capital Management LP. In the hedging end of the financial industry, fortunes are made and lost with frequency. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? He graduated from Northwestern University with an Economics degree in 2001. He is Jewish. $1,513,822. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. She is a native New Yorker. His compensation after that year's performance was $300 million. 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). He enrolled in courses at Northwestern University. short selling).Gabriel Plotkin Melvin capital worth Wife Age, In its first full year in operation, Melvin Capital had returns of 47%, ranking it 2nd in Bloombergs 2015 list of top-performing funds with $1 billion or more in assets under management. 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. In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. The fund had also repositioned its portfolio according to the source. 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 had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. We have a lot of analysts, we require a lot out of them. March 2023. Ratings are calculated from one or more beacon scores. [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. 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. Offers may be subject to change without notice. Gabriel and Yaara Plotkin Family Foundation. The couple married in 2006 and are still together. By Svea Herbst-Bayliss. . Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . Both are natives of the East Coast. The organizations present valuation is $8 billion, reports Daily Mail. The Jews cant keep getting away with this. Others sent similarly profane and racist text messages to me., Wrapping up his prepared statement, Plotkin said he was personally humbled by the Reddit short squeeze and Melvin Capitals losses. One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. Tradewater. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10019 EIN: 46-4942784 This organization is not listed in the IRS's most recent list of tax exempt organizations, but we have data. See rating report below to learn why this organization is not currently eligible. Privacy Policy Melvin Capital Founder Gabriel Plotkin Reportedly Lost $460 Million in Short Squeeze By Dan Clarendon Feb. 23 2021, Published 10:59 a.m. 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. You've probably heard what went. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. ET The net worth of Gabriel Plotkin reportedly took a. This was not long after the legal trouble and allegations of wrongdoing by the SEC. He currently serves as the Chief Investment Officer of the hedge fund that he established. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. New York had the highest population of Plotkin families in 1920. Prior to starting Melvin Capital, Plotkin was a trader at Steve Cohens SAC Capital, where he managed a portfolio of mostly consumer stocks valued at about $1.3 billion. They gained considerably due to the problems faced during the launch of Cyberpunk 2077. 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) Read the IRS instructions for 990 forms. If it is your nonprofit, add geographic service areas to create a map on your profile. Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. I wanted the firm to represent his valuesintegrity, hard work, taking care of customers and employees, and commitment to excellence, he added. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. This organization has no recorded board members. In his testimonypublished online by The Washington PostPlotkin admitted that he was far removed from his background growing up in a middle-class family in Portland, Maine, and going to public high school. In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Last Update. Gabe is a minority owner and alternative governor of the Charlotte Hornets. The posts said things like, Its very clear we need a second Holocaust. It is now our job to earn it back, he said. Gregory Plotkin - Wikipedia By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. These audits are copied from the Federal Audit Clearinghouse. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Gabriel and Yaara got hitched in the year 2006. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. 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. to try again. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Click on the link in that email If it is your nonprofit, add a problem overview. GABRIEL PLOTKIN Children of Fallen Patriots 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. 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. In 1920 there were 60 Plotkin families living in New York. 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. Copyright 2021 Pro Publica Inc. about GuideStar Pro. Gabe's company was worth $12.5 billion before suffering a huge loss. 10 Things You Didn't Know About Gabriel Plotkin - Money Inc Learn more If the problem persists contact us. In 2017, it's 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). Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). to get more GuideStar Nonprofit Profile data today! Try our monthly plan today. Gabriel Plotkin has a rich personal life as well as a busy career. Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. Want to see how you can enhance your nonprofit research and unlock more insights? Gabe Plotkin Shutters Melvin Capital After GameStop Disaster 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. Yaara Bank-Plotkin is the spouse of Gabriel or Gabe Plotkin. 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 . Yaara Bank-Plotkin And Gabriel Plotkin Divorce: Family Facts To Know In court filings, Plotkin was the so-called Portfolio Manager B and reportedly was forwarded a number of emails from a fellow portfolio manager that the SEC considered inside information. 5 min read. Try a low commitment monthly plan today. In fact, Bloomberg reports that Plotkin went from making about $850 million in 2020and ranking among the top 15 hedge fund managersto losing an estimated $460 million as Melvin Capital lost 53 percent in January. Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. And how will we know when we see it? We learned from WikiProject Topics some facts about Gabriel Plotkins early years. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. If this organization has filed an amended return, it may not be reflected in the data below. If this organization has filed an amended return, it may not be reflected in the data below. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Northwestern UniversityAfter graduating from Northwestern University with a degree in Economics in 2001,Gabriel Plotkinjoined Ken Griffins hedge fund Citadel LLC, and later Connecticut-based hedge fund North Sound Capital. He raised nearly $1 billion. Melvin Capital - Wikipedia Gabriel Bankier Plotkin - Chief Operating Officer - LinkedIn The people, governance practices, and partners that make the organization tick. 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. 3 0 obj 2023 Children of Fallen Patriots Foundation. Gabe has been married to Yara Bank-Plotkin since 2006. The acquisition valued the Hornets at $1.5 billion. Fast-track your prospect research with a Professional plan subscription. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. Personal Life and Real Estate:In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. 9. May 19, 2022. She is a native New Yorker. Michael Jordan's ownership stake in the NBA's Charlotte Hornets. Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. The most well-known incident involving Gabe was the founding of Melvin Capital Management, which engaged in a public argument with a group of Reddit users in 2021 over the firm GameStop. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Culture & Community methodology because we have not received data from the charity regarding its Constituent Feedback or Equity Practices strategies.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. Just two of the stocks prices did not move in a meaningful manner. This organization is not listed in the IRS's most recent. It wasnt long before the fun operated with over a billion in assets under its management. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. EIN 46-4942784 . And while I do not think that anyone could have anticipated these events, I have learned much from them, and I am taking steps to protect our investors from anything like this happening in the future.. spent with my family and on Melvin Capital, which I founded six years ago. But The Real Deal reports that Plotkin is forging ahead on the renovation of the two Miami Beach, Fla., properties that he bought in 2020 for $44 million, with his attorney going before the Miami Beach Design Review Board to discuss the Melvin Capital founders plans to demolish one of the two properties to make room for a 1,316-square-foot cabana, a playground, and amenity courts. Melvin Capital also contended that rumors of the fund intending to file for bankruptcy are false. He had previously been one of the most prominent. Melvin did not return a call seeking comment. 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. Click here to search for this organization's Forms 990 on the IRS website (if any are available). The firm ended 2020 with $12.5 billion under management. The acquisition valued the Hornets at $1.5 billion. (W99). During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. 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. 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. Yaara doesnt have a Wikipedia page devoted to her yet. Founder and CEO of Melvin Capital (from 2014-2022) Net worth: $400 million (estimated) Before Melvin Capital, Plotkin worked at SAC Capital under Steve Cohen. Sign in. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. The total assets subtleties and the subtleties of Yaara Bank-Plotkins compensation and profit are kept hidden. Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. Small organizations filing a Form 990N "e-Postcard" are not included in this data. 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. These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. Gabe received his bachelor's degree in economics from Northwestern University. He has a generous heart when it comes to helping those who are in need. Submit a correction suggestion and help us fix it! Federal prosecutors alleged that he was the recipient of illegal insider information. Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. Read the API documentation . 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. He was called Portfolio Manager B in the scandal. 2 0 obj Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. The Foundation supports Chabad Israel Center and made 11 grants last year. Your email address will not be published. Telephone: 2128320400 Toward the end of 2014, Plotkin left SAC to establish his own company. Two other firms invested . [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. 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. Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. Gabriel Plotkin Biography& Net Worth - TheMediaMunk American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. Yaara Bank-Plotkin is the wife of Gabriel or Gabe Plotkin. 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. According to The Wall Street Journal, about one-third of the gains in 2019 from Steve Cohens current hedge fund, Point72, came from Melvin Capital Management LP. He currently serves as the Chief Investment Officer of the hedge fund that he established. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. And what they have learned has lessons for understanding where generative AI models may go. 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. Sign in or create an account to view Form(s) 990 for 2019 and 2018. There he earned his bachelors degree in Economics, graduating in 2001. He also said that the fund has an intense focus on the short side (i.e. David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com Gabriel Plotkin has a rich personal life as well as a busy career. The short position adopted by Melvin Capital and others resulted in more than 139% percent of existing shares of GME being shorted, making GameStop stock the most shorted equity in the world. But on Wednesday, Melvin filed an amended version of the document disclosing that as of December 31 it held put positions in an additional eight companies not previously known. May 2016 - Jan 20192 years 9 months. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. 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. Give the page a little longer to finish At the last update at the end of January, Plotkins hedge fund was down by 53 percent. <> by Bana Miller. 4 0 obj 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. 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. Required fields are marked *. 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. ProPublica posts new tax forms as they are released by the IRS. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Gabe has been married to Yara Bank-Plotkin since 2006. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. endobj From https://projects.propublica.org/nonprofits. 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. Despite the turmoil, Plotkin insisted that the $ 2.75 billion investment Melvin secured from Ken Griffins Citadel and Steve Cohens Point72 in late January was not intended to bail out the fund because it was grappling with heavy casualties. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization.
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