(Don't see an email in your inbox? He still manages assets of around $12.5 billion through Melvin Capital. 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.. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. 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. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. 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. This organization is required to file an IRS Form 990-PF. spent with my family and on Melvin Capital, which I founded six years ago. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. 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. Yaara Bank-Plotkin is the spouse of Gabriel or Gabe Plotkin. 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. Gabriel Jesus signed for Arsenal from Manchester City this summer and has made an instant impact for his new club. Fast-track your prospect research with a Professional plan subscription. She is a native New Yorker. 3 0 obj Our projects result in quantifiable . Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. March 2023. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. 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. ynfx9/EYQ 7dM2gcAs~/cojcbD? 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. After college he went to work at the hedge fund Citadel LLC. Offers may be subject to change without notice. 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. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. WallStreetBets may seem sophisticated or chaotic from the outside, but the fact that were here today means that theyve been successful in raising important questions about fairness and opportunities in our financial system, Huffman said. 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). Melvin Capital founder, Gabriel Plotkin's, testimony before the House Committee on Financial Services regarding the recent GameStop short sell. loading and try your donation again. 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. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. That's a big number, but it is still the lowest such combined earnings figure since the financial crisis. Last Update. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. 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. Gabriels company suffered a big loss in 2021. This organization has no recorded board members. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. In December 2020 Plotkin purchased 2 adjacent houses in Florida for $44 million. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. Plotkin founded Melvin Capital in 2014. From https://projects.propublica.org/nonprofits. Melvin became a prime target for newbie traders on Reddits WallStreetBets forum because he had taken a short position on GameStop, meaning he was betting the struggling video game retailers share price was going to lower. This organization has not yet reported any program information. See the list , The data powering this website is available programmatically, via an API. Michael Jordan's ownership stake in the NBA's Charlotte Hornets. 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. It is its type of kindness that makes the world a better place to live. 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. You've probably heard what went. July 28, 2021 In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Learn More Join Facebook to connect with Gabriel Plotkin and others you may know. Gabriel and Yaara got hitched in the year 2006. Gabriel and Yaara Plotkin Family Foundation. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. If the problem persists contact us. endobj Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. Want to see how you can enhance your nonprofit research and unlock more insights? Plotkin founded Melvin Capital in 2014. Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. They are associated with the Chabad Israel Center. The couple married in 2006 and are still together. Yaara doesnt have a Wikipedia page devoted to her yet. Two other firms invested . Copyright 2021 Pro Publica Inc. 9. The acquisition valued the Hornets at $1.5 billion. (BMF affiliation code: 3). Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. The blow-up resulted in Point72 Asset Management and Citadel pumping $2.75 billion into Melvins hedge fund to shore up its finances. 2023 Children of Fallen Patriots Foundation. Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop. Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. Save my name, email, and website in this browser for the next time I comment. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. Rating histories are available for a growing number of rated organizations. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. 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. 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.". 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. The hedge fund is getting a boost from Citadel LLC and Point72 Asset Management, however. 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. He had previously been one of the most prominent. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. The 10 Richest Hedge Fund Managers In The World Today. In 1920 there were 60 Plotkin families living in New York. Privacy Policy a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. Location 345 Park Ave New York City, NY 10154-0004 United States. I named Melvin after my grandfather, who ran a convenience store. Small organizations filing a Form 990N "e-Postcard" are not included in this data. This data release includes only a subset of what can be found in the full Form 990s. The acquisition valued the Hornets at $1.5 billion. Mr. Plotkin is married to Yaara Bank-Plotkin. The most Plotkin families were found in USA in 1920. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. These audits are copied from the Federal Audit Clearinghouse. 2 0 obj American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. This organization has not provided GuideStar with a mission statement. Read the API documentation . The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International. 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. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Melvins put positions in the other stocks were much smaller in market price value. Please share any feedback you have about Foundation Directory Online. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. From https://projects.propublica.org/nonprofits. Net Worth. The posts said things like, Its very clear we need a second Holocaust. Numerous searches have not turned up any official social media accounts that are accessible by the public. 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. We welcome all corrections and feedback using the button below. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. This data release includes only a subset of what can be found in the full Form 990s. You will not find Mr. Plotkin on social media. Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. 02/11/2022. Submit a correction suggestion and help us fix it! Plotkin founded Melvin Capital in 2014. }p . Please refresh the page 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. 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. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. SAC was fully shuttered in 2016. 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. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. Gabeis 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. If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. See the list , The data powering this website is available programmatically, via an API. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. 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. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. Read the IRS instructions for 990 forms. These audits are copied from the Federal Audit Clearinghouse. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. Melvin Capital lost 53% on its investments in January 2021 alone. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? 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. %PDF-1.7 % 1 0 obj Learn more 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. After college he went to work at the hedge fund Citadel LLC. There are no subtleties present about Yaara Bank-Plotkins youngsters. There were bits of gossip about Yaara Bank-Plotkin and Gabe Plotkin getting separation on January 31, 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 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. 09/07/2021 In the hedging end of the financial industry, fortunes are made and lost with frequency. We learned from WikiProject Topics some facts about Gabriel Plotkins early years. Please check your inbox in order to proceed. 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. 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. What exactly is (natural or artificial) intelligence? 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. Key Persons data is currently unavailable for this organization. Your donation attempt encountered a problem. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! 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. $2800/month total (Arielle Oct Update) | DS408 | Doug.Show, Keep your friends close and your enemies closer, How to make great makeup for the first date in 2022, Umbrella Wholesale Business Start-Up Advice, The Top 10 Garden Accessories to Wholesale, The Art of Electric Shaving: 5 Tips and Tricks for a Smooth Shave, 3 Ways Bad Weather Can Affect Package Shipping & Delivery. At the end of Q1 2021, Melvin reported losses of 49%. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> He enrolled in courses at Northwestern University. 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. 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. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. 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. [18] Users of the subreddit r/WallStreetBets made widespread bets that GameStops stock would increase in value. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. His official title was a trader. By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. about GuideStar Pro. Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. 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. The couple was living a happy married life till 2018. His compensation after that years performance was $300 million. 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. Try a low commitment monthly plan today. He currently serves as the Chief Investment Officer of the hedge fund that he established.
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