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). Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. 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. 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. WallStreetBets has a reputation for being rude and rude. By 2018 the fund's assets under management had ballooned to $3.5 billion. Chanel has created a fragrance that imbibes and represents the houses founder Gabrielle Chanel. Toward the end of 2014, Plotkin left SAC to establish his own company. The acquisition valued the Hornets at $1.5 billion. The couple married in 2006 and are still together. He was in charge of managing a portfolio of consumer stocks. Both are natives of the East Coast. According to Wikipedia, Gabriel Plotkin is a college graduate. Click on the link in that email Contact Information. Net Worth. In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION - ProPublica 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. He has a generous heart when it comes to helping those who are in need. Gabriel Plotkin Net Worth: Info on Melvin Capital Founder's Fortune We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. 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. }p . Melvin Capital Management Founder and Chief Investment Officer Joins Others have sent me equally profane and racist texts. Gabriel Plotkin is an American businessman and entrepreneur who founded Melvin Capital Management LP. Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. 09/07/2021 He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. She is a native New Yorker. Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. View the profiles of people named Gabriel Plotkin. Terms of 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. 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. Sign in or create an account to view Form(s) 990 for 2019 and 2018. Scientists and philosophers have studied the process of how knowledge is expanded. They have a son named Eytan Shmerel. Michael Jordan/Hornets Investment: In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordans ownership stake in the NBAs Charlotte Hornets. Total revenues. He was called Portfolio Manager B in the scandal. Yaara Bank-Plotkin is the wife of Gabriel or Gabe Plotkin. Mr. Plotkin is married to Yaara Bank-Plotkin. July 28, 2021 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 If it is your nonprofit, add geographic service areas to create a map on your profile. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Ratings are calculated from one or more beacon scores. People may receive compensation for some links to products and services on this website. Melvin Capital lost 53% on its investments in January 2021 alone. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. It is now our job to earn it back, he said. Location 345 Park Ave New York City, NY 10154-0004 United States. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Melvin dropped the bet not because our investment thesis had changed, but because something unprecedented was happening, Plotkin said. Gabriel and Yaara got married in the year 2006. At the end of Q1 2021, Melvin reported losses of 49%. Gabriel Plotkin Melvin capital worth Wife Age. 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. Updated Feb 18, 2021 at 5:13 PM. He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. By 2018 the funds assets under management had ballooned to $3.5 billion. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Your email address will not be published. endobj Analyze a variety of pre-calculated financial metrics Access beautifully interactive analysis and comparison tools Organizations making less than $50,000 dont have to file either form but do have to let the IRS theyre still in business via a Form 990N "e-Postcard.". This organization has not provided GuideStar with a mission statement. His official title was a trader. 9. The fund is led by Founder & CIO Gabriel Gabe Plotkin. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. 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. Yaara doesnt have a Wikipedia page devoted to her yet. 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. <>stream Gabe Plotkin Net Worth | Celebrity Net Worth Gabriel and YAARA Plotkin Family Foundation - GuideStar Profile There he earned his bachelors degree in Economics, graduating in 2001. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. The firm ended 2020 with $12.5 billion under management. Gabriel was on in Portland, Maine and this is where he grew up. The couple married in 2006 and are still together. This was about 32% of all the recorded Plotkin's in USA. Family foundations . This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. 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. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! Yaaras identity and foundation are kept hidden. Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. This was a serious crime. Gabriel started the venture the board firm in 2014 in New York. . They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. 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. If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. 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. He also said that the fund has an intense focus on the short side (i.e. Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. The organizations present valuation is $8 billion, reports Daily Mail. 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 $44 million, with his attorney going before the Miami Beach Design Review Board to discuss the Melvin Capital founders plans to demolish one of the two properties to make room for a 1,316-square-foot cabana, a playground, and amenity courts. Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. And he told the committee that when Reddit users targeted Melvins short positions, some shared offensive posts. 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. Subscribe Unlock nonprofit financial insights that will help you make more informed decisions. Celebrity Net Worth reports Plotkins net worth is $400 million, suggesting a change in fortune for a man who enjoyed $850 million in earnings last year. Grant Information Last Updated: Learn More In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. However, during January 2021, he reportedly lost $460 million due to his funds collapsing. See the list , The data powering this website is available programmatically, via an API. He also owns property in New York City. Who Paid The Largest Individual Tax Bill Of All Time? $1,513,822. 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. Market Realist is a registered trademark. 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. Submit a correction suggestion and help us fix it! Plotkin founded Melvin Capital in 2014. See rating report below to learn why this organization is not currently eligible. We leverage finance and accountability data from it to form Encompass ratings. 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 . Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Read the IRS instructions for 990 forms. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. In its initial 13F filing covering the fourth quarter and publicly disclosed in mid-February, Melvin had listed eight stocks for which it held put options.Gabriel Plotkin. I named Melvin after my grandfather, who ran a convenience store. The Form 990 is a document that nonprofit organizations file with the IRS annually. 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. Hes still in business and going strong. Read the IRS instructions for 990 forms. Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. This organization has not yet reported any program information. He currently serves as the Chief Investment Officer of the hedge fund that he established. According to Forbes, Plotkin earned about $300 million in compensation in 2017, making him the 20th highest-paid hedge fund manager that year. Check back later to see if this organization has a rating history! Save my name, email, and website in this browser for the next time I comment. Gabe Plotkin got married in 2006 to a lady named Yaara Bank. We learned from WikiProject Topics some facts about Gabriel Plotkins early years. 2 0 obj 2020. The Giving Basket is having some issues. Gabriel and Yaara Plotkin Family Foundation - Charity Navigator The most Plotkin families were found in USA in 1920. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. Please check your inbox in order to proceed. The Foundation is supported by Plotkin Family 2016 Grantor Clat. Telephone: 2128320400 He had previously been one of the most prominent. 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. 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. 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. BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. 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. Gabe Plotkin Shutters Melvin Capital After GameStop Disaster ProPublica posts new tax forms as they are released by the IRS. ynfx9/EYQ 7dM2gcAs~/cojcbD? We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. These audits are copied from the Federal Audit Clearinghouse. 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. The fund had also repositioned its portfolio according to the source. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. 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. Click here to resend it.). Extracted financial data is not available for this tax period, but Form 990 documents are available for download. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. 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 |. When Plotkin was still employed at SAC Capital a scandal broke out. The stock would rise another 13 percent before peaking on February 9. Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. Melvin Capital head, a Hornets owner, battered in stock swing ET The net worth of Gabriel Plotkin reportedly took a. The posts said things like, Its very clear we need a second Holocaust. Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. Read the API documentation . Melvin Capital also contended that rumors of the fund intending to file for bankruptcy are false. Copyright 2021 Pro Publica Inc. A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. Gabriel and YAARA Plotkin Family Foundation. David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com He has received a great deal of attention in the recent wake of the GameStop investment debacle that resulted in billions of dollars in debt for hedgers shorting the stock. Our projects result in quantifiable . SAC was fully shuttered in 2016. I wanted the firm to represent his valuesintegrity, hard work, taking care of customers and employees, and commitment to excellence, he added. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. Hedge Fund Manager. And how will we know when we see it? 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. May 2016 - Jan 20192 years 9 months. Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. Plotkin founded Melvin Capital in 2014. The blow-up resulted in Point72 Asset Management and Citadel pumping $2.75 billion into Melvins hedge fund to shore up its finances. In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension. We recognize that not all metrics and beacons equally predict a charitys success. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. PDF COMMITTEE ON FINANCIAL SERVICES - House Service. 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. She is a native New Yorker. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Facebook gives people the power. 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. 5 min read. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Accountability & Finance methodology because it files Form 990-PF, as required of Private Foundations. Duplicated download links may be due to resubmissions or amendments to an organization's original return. Organizations making less than $50,000 dont have to file either form but do have to let the IRS theyre still in business via a Form 990N "e-Postcard.". <>/Metadata 97 0 R/ViewerPreferences 98 0 R>> 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. And what they have learned has lessons for understanding where generative AI models may go. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. May 19, 2022. 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. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. From https://projects.propublica.org/nonprofits. They have a son named Eytan Shmerel. 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. 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). In December 2020 Plotkin purchased 2 adjacent houses in Florida for $44 million. The Foundation supports Chabad Israel Center and made 11 grants last year. spent with my family and on Melvin Capital, which I founded six years ago. The Plotkin family name was found in the USA, and Canada between 1911 and 1920. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Testimony of Gabriel Plotkin, founder of Melvin Capital Management Revenue and expense data is not available for this organization. We have a lot of analysts, we require a lot out of them. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. If you wish to donate, please refresh the page. Many of these posts were laced with antisemitic slurs directed at me and others, he said. Copyright 2021 Pro Publica Inc. Gabriel and Yaara Plotkin Family Foundation. Notwithstanding, neither Yaara Bank-Plotkin nor Gabriel Plotkin has affirmed or denied the gossip about their separation. You're faster than our page! Melvin Capital CEO Gabriel Plotkin delivers his opening statement. March 2023. 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. 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.. Published. 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. SAC was fully shuttered in 2016. You will not find Mr. Plotkin on social media. Gabriel Plotkin has a rich personal life as well as a busy career. (BMF affiliation code: 3). Gabe Plotkin is the CIO of Melvin Capital. While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Give the page a little longer to finish According to the Wall Street Journal, Melvin Capital lost 53% on its investments in January 2021 alone.