Daniel Loeb is an American hedge fund manager, investor, and philanthropist. Daniel founded and manages $15 billion at the Third Point LLC based in New York. He launched the Human Rights Campaign with Paul Singer, his fellow hedge fund billionaire.
Human Rights Group is the largest American LGBT civil rights organisation that works globally. Daniel serves as Chairman of the board of Success Academies Charter Schools in Brooklyn. Daniel is a trustee of the US Olympic Committee.
Personal Life of Daniel
Daniel Seth Loeb was born on 18th December 1961 to Ronald and Clare Spark Loeb. His parents divorced when Daniel was 9 so he lived with his father. His two sisters lived with mother. Daniel grew up in Santa Monica, California.
Early Life and Education
He graduated from Palisades Charter High School. Daniel attended the University of California at Berkeley for two years. He graduated with economics degree from Columbia University. Daniel worked at Warburg Pincus (1984-1987), Island Records as Director. Also, he worked at Lafer Equity Investors (1991- 1994) as senior vice-president, Citigroup as vice president (1994–95). In 1995, Daniel Loeb founded Third Point Management with $3.3 million from family and friends. Daniel serves as the CEO of this hedge fund based in New York. Daniel married Margaret Davidson Munzer in 2004 at his beach house in East Hampton, New York. They have three children.
Father of Daniel
Ronald graduated Summa Cum Laude, Phi Beta Kappa, from UCLA where he was the president of his fraternity. Ronald was the lieutenant in the U.S. Army for two years in Korea. On retuning, he studied at Harvard Law School and was the member of Harvard Law Review. He worked for 38 years as corporate lawyer and partner at Irell & Manella, Los Angeles. After retirement, Ronald worked at Williams-Sonoma as General Counsel. Ronald worked for Mattel Inc for over 30 years.
He was an outside Director and the interim President over one period. Ronald was on the Advisory Board of public radio station, KPFK. He was the President of Pacific division of Outward Bound. In China and India, Ronald improved the working conditions of the labourers. Ronald was a member of the World Business Academy.
Eight years before he died on 14th April 2012, Ronald was diagnosed with Alzheimer’s disease. He is survived by Shirley Ross Loeb, his wife of 39 years, and five children. They are Daniel, Shulamit and Rachel from previous marriage to Clare Spark. Others are Joshua and Gabriel from Shirley.
Great-Aunt of Daniel
Daniel’s great-aunt, Ruth Marianna Handler was an American businesswoman and inventor. Ruth was the President of the toy manufacturer, Mattel Inc. She is remembered for inventing the Barbie doll. Ruth was born on 4th November 1916 in Denver, Colorado, to Jacob Mosko and Ida Rubenstein. She died on 27th April 2002 in Century City, California due to complications from colon surgery. Ruth was married to Elliot Handler in 1938. Ruth’s children were Barbara and Kenneth.
Net Worth
Daniel Loeb is net worth $2.9 Billion. Earlier, Daniel explored several financial markets. In 1995, he founded his activist hedge fund Third Point where he serves as the CEO. His hedge fund returns were 6.1% in 2016. Daniel manages $15 billion at Third Point. Daniel predicted that markets for activist investors would improve as Donald Trump is President. Simultaneously, Daniel is using his quantitative approaches to investing. Daniel launched with his fellow hedge fund billionaire Paul Singer and the Human Rights Campaign. It is America’s largest LGBT civil rights organisation for the protection of LGBT rights globally. Daniel is the Chairman of the board of Success Academies Charter Schools in Brooklyn. He is also a trustee of the US Olympic Committee.