David Einhorn: New Jersey-born Billionaire Behind The Mighty Greenlight Capital

Net Worth: $1.6 Billion (As of April 2014)

$900,000 is the amount that David Einhorn used to establish what is referred as “a long-short value-oriented hedge fund” or simply, Greenlight Capital. Einhorn serves as the President of the hedge fund, which has generated around a 20 percent annualized return for those that have invested in it.

He also maintains the position of Chairman of Greenlight Capital Re, Ltd, which is a re-insurance firm based in Cayman-Islands. Einhorn has been listed by Forbes as the 362nd richest person in the United States with an estimated net worth of $1.6 billion.

If you are curious to find out about the background of this self-made billionaire, you will be glad to know that Einhorn was born on 20th November, 1968 in New Jersey to a Jewish family. When he attained age seven, his family relocated to Wisconsin.

Young Einhorn graduated from Nicolet High School, and shortly after joined Cornell University, where he graduated with a BA in Government. While at the university, he was one of the members of Sigma Alpha Epsilon fraternity. 

Einhorn has been running Einhorn & Associates alongside his father, Stephen, and his brother, Daniel. The three also run a venture capital fund known as Capital Midwest Fund. During his career as fund manager, Einhorn has been awarded broad coverage in the financial press basically for short selling Green Mountain Coffee Roasters, Lehman Brothers and Allied Capital stock. From March 2006 to March 2007, he served as a Director of a major subprime mortgage lender known as New Century.

Einhorn has been a philanthropist for a number of years, and has contributed handsomely to many causes. Not only has he been a major contributor of The Michael J. Fox Foundation, but he has also been a board member of the same. In the year 2006, he participated in a World Series of Poker, where he finished 18th.

He donated his winnings (not less than $650.000) to the foundation. Einhorn is also a board member of the Robin Hood Foundation, and has been a contributor to many charities in the New York area. 

On 26th May, 2011, it was formally announced by the New York Mets that Einhorn had agreed to purchase a minority share of the franchise for about $200 million. The negotiations of the sale ended on September 2011. Einhorn is married to Cheryl Strauss, with whom he has three children. He resides in Westchester County, New York. 

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)