Michael Steinhardt

Michael H. Steinhardt (born December 7, 1940) is an American investor, hedge fund manager, and philanthropist. In 1967, he founded a hedge fund, Steinhardt Partners, that averaged an annualized return for its clients of 24.5% from 1967 to 1978. His fund lost 1/3 of its value in the 1994 bond market crisis. In 1995, he closed his fund stating, "I thought there must be something more virtuous, more ennobling to do with one's life than make rich people richer," before making a 2004 comeback to head WisdomTree Investments, a fund with nearly $43 billion USD in assets under management.In a January 2014 article by Bloomberg, he was referred to as "Wall Street's greatest trader." Forbes Magazine reported his net worth at $1.1 billion as of October 2018.