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 funds future revenues. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. Small organizations filing a Form 990N "e-Postcard" are not included in this data. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. Melvins put positions in the other stocks were much smaller in market price value. It is now our job to earn it back, he said. 2023 Forbes Media LLC. Gabe and Yaara also have two beautiful kids, a son, and a daughter. 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. He also said that the fund has an intense focus on the short side (i.e. His official title was a trader. Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. [28]Allegations include Melvins participation in a conspiracy against retail investors, and also that Melvin made misstatements about their role in the conspiracy to the public. Melvin contends that these lawsuits are without merit., Yaara Bank-Plotkin is the spouse of Melvin Capital, originator, and Chief Investment Officer, Gabriel Plotkin. Officers, directors, trustees, and key employees, Analyze a variety of pre-calculated financial metrics, Access beautifully interactive analysis and comparison tools, Compare nonprofit financials to similar organizations, Revenue and expense data for the current fiscal year, CEO, Board Chair, and Board of Directors information, *with the ability to download the data for 2019, 2018. 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. Melvin Capital CEO Gabriel Plotkin delivers his opening statement. Already have a GuideStar Account? Save my name, email, and website in this browser for the next time I comment. You will not find Mr. Plotkin on social media. The blow-up resulted in Point72 Asset Management and Citadel pumping $2.75 billion into Melvins hedge fund to shore up its finances. The steep decline had largely been attributed to a Reddit-fueled assault on heavily shorted stocks including GameStop, which bludgeoned short-sellers like Melvin and other hedge fund firms. Reuters identified Plotkin as the so-called Portfolio Manager B in the Securities and Exchange Commissions civil complaint against Michael Steinberg, a fellow SAC PM who was arrested on charges he traded Dells earnings based on insider information. Facebook gives people the power. (BMF affiliation code: 3). 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. 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. The Internal Revenue Service is substantially delayed in processing and releasing nonprofit filings, so documents available here may not be the most recent an organization has filed. . In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. Rating histories are available for a growing number of rated organizations. A Sony Pictures exibiu no seu painel na CinemaCon na Segunda (24) as primeiras cenas de "Dumb Money", do diretor de "Eu, Tonya" e "Cruella", Craig Gillespie, uma comdia biogrfica baseada no livro 'The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees', de Ben Mezrich. No wonder he told a congressional committee the experience humbled him. Gabriel Jesus signed for Arsenal from Manchester City this summer and has made an instant impact for his new club. In February, Melvin posted a 22% gain; even with this addition, Melvin will need to produce an additional 75% gain for earlier clients before they break even. His compensation after that years performance was $300 million. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. about GuideStar Pro. Chanel has created a fragrance that imbibes and represents the houses founder Gabrielle Chanel. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. Copyright 2021 Pro Publica Inc. The couple married in 2006 and are still together. Melvin Capital Management LP is an American investment management firm based in New York City. Mr. Plotkin is married to Yaara Bank-Plotkin. After he graduated from Northwestern, Gabriel accepted a job at SAC Capital. Subscribe Unlock nonprofit financial insights that will help you make more informed decisions. In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. See the list , The data powering this website is available programmatically, via an API. When Plotkin was still employed at SAC Capital a scandal broke out. $1,513,822. He graduated from Northwestern University with an Economics degree in 2001. 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. Melvin Capital lost 53% on its investments in January 2021 alone. Meanwhile, shares of Ollies Bargain Outlet Holdings, another negative bet, rose about 30 percent through January 27. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. Two surged around 50 percent through January 27, while three others rose at least 20 percent over the same period. loading and try your donation again. View the profiles of people named Gabriel Plotkin. Hes still in business and going strong. 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. SACs founder,Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. 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. Please share any feedback you have about Foundation Directory Online. Melvin Capital founder Gabe Plotkin made the disturbing statement in prepared testimony he plans to deliver at Thursdays House Financial Services Committee hearing on the recent populist revolution in the stock market. Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. Want to see how you can enhance your nonprofit research and unlock more insights? Key Persons data is currently unavailable for this organization. The short position adopted by Melvin Capital and others resulted in more than 139% percent of existing shares of GME being shorted, making GameStop stock the most shorted equity in the world. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Numerous searches have not turned up any official social media accounts that are accessible by the public. This data release includes only a subset of what can be found in the full Form 990s. Join Facebook to connect with Gabriel Plotkin and others you may know. He has literally no presence on social media on any of the platforms. CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. 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. 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. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. 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). Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. 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. 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. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. Read the IRS instructions for 990 forms. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. 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. CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. 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 ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? 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. 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. 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. They gained considerably due to the problems faced during the launch of Cyberpunk 2077. Read the IRS instructions for 990 forms. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. They have a son named Eytan Shmerel. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. The stock would rise another 13 percent before peaking on February 9. While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. ProPublica posts new tax forms as they are released by the IRS. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. SAC was fully shuttered in 2016. He was called Portfolio Manager B in the scandal. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. We recognize that not all metrics and beacons equally predict a charitys success. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. "Gabe Plotkin and team have delivered exceptional results over the history of Melvin. And he told the committee that when Reddit users targeted Melvins short positions, some shared offensive posts. 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. Gabriel Plotkin has a rich personal life as well as a busy career. 9. A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. spent with my family and on Melvin Capital, which I founded six years ago. 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). Copyright 2021 Pro Publica Inc. Market Realist is a registered trademark. 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. Published. 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. In 2017, the fund finished up 41%. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. Gabriel and YAARA Plotkin Family Foundation. 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. He established Melvin Capital, a fund that was named in honor of his late grandfather. Privacy Policy 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. 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. The fund is led by Founder & CIO Gabriel Gabe Plotkin. Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. 5. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. Gabe Plotkin got married in 2006 to a lady named Yaara Bank. Gabriel Plotkin has a rich personal life as well as a busy career. 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.. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. $400 Million. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. Chicago. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. We learned from WikiProject Topics some facts about Gabriel Plotkins early years. 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.". What exactly is (natural or artificial) intelligence? He enrolled in courses at Northwestern University. Michael Jordan's ownership stake in the NBA's Charlotte Hornets. The company's current valuation is $8 billion, reports Daily Mail . By Svea Herbst-Bayliss. Sign up to get ProPublicas biggest stories delivered straight to your inbox. He also owns property in New York City. Cabe Plotkin raised almost a billion dollars for the fund. By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. The total assets subtleties and the subtleties of Yaara Bank-Plotkins compensation and profit are kept hidden. Gabriel and Yaara got hitched in the year 2006. Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. A former SAC Capital star trader, Gabriel Plotkin started his own fund at the end of 2014, called Melvin Capital Management, named after Plotkin's late grandfather. She is a native New Yorker. Why Aren't Donated Clothes Always Given Away for Free? Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. However, during January 2021, he reportedly lost $460 million due to his funds collapsing. Contact Information. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. How old is Yaara Bank-Plotkin? Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. According to Wikipedia, Gabriel Plotkin is a college graduate. [18] Users of the subreddit r/WallStreetBets made widespread bets that GameStops stock would increase in value. Telephone: 2128320400 $5,131,925. Sign up to get ProPublicas biggest stories delivered straight to your inbox. Gabe is a minority owner and alternative governor of the Charlotte Hornets. July 28, 2021 The hedge fund is getting a boost from Citadel LLC and Point72 Asset Management, however. I named Melvin after my grandfather, who ran a convenience store. They are associated with the Chabad Israel Center. He graduated from Northwestern University with an Economics degree in 2001. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. 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. Our projects result in quantifiable . Both are natives of the East Coast. There he earned his bachelors degree in Economics, graduating in 2001. Melvin Capital also contended that rumors of the fund intending to file for bankruptcy are false. Gabriel was on in Portland, Maine and this is where he grew up. Just two of the stocks prices did not move in a meaningful manner. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. He is Jewish. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. 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. 2020. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. Toward the end of 2014, Plotkin left SAC to establish his own company. Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. If it is your nonprofit, add a problem overview. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. (Don't see an email in your inbox? According to Chabdic, Mr. Plotfin and his wife both Yaara are both passionate about the land of Israel. According to The Wall Street Journal, about one-third of the gains in 2019 from Steve Cohens current hedge fund, Point72, came from Melvin Capital Management LP. x\[oH~Bl^,>&%q#,LlYlR.<9b5IVyqr#%c.gx/|+;\Yg;n60-kx[_w8bw O';Xl^W)q&b'2iu];s}7vX76G18:6;G_>#v>;.o8~}~^#;T/3sgxq_U'',LV}AVu_Yptr$;y|jS%ncxN{-y/NGFHjp8Ujx3gqKg ,aNuc79Dch#1) 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. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. to get more GuideStar Nonprofit Profile data today! 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. The couple married in 2006 and are still together. March 2023. The 20 highest-earning hedge fund managers and traders made $10.3 billion combined in 2018. In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. The mission of Children of Fallen Patriots. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International.
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