Today, I’m excited to talk about Gabriel Plotkin, who is often called Gabe Plotkin.
We’ll learn about his background, why he’s famous, and the important things he has done in his career.
We’ll also talk about some of the challenges he’s faced and how he has overcome them.
Join me as we get to know more about Gabe Plotkin, his career path, major accomplishments, and the impact he has had in his industry.
Whether you know about his work already or are just hearing about him for the first time, there’s a lot to discover about this interesting person.
Who Is Gabriel Plotkin?
Gabriel Plotkin, often called Gabe Plotkin, is a well-known person in the finance world, especially as a hedge fund manager.
He was born in 1978 and is an American businessman. He started Melvin Capital Management and Tallwoods Capital LLC, which are hedge funds that invest in consumer stocks and technology.
Gabe is also the co-chairman of the Charlotte Hornets basketball team.
Gabe became famous for his smart trading strategies and success at Melvin Capital, which he started after working at Steve Cohen’s SAC Capital as a top portfolio manager.
In early 2021, Gabe’s name became even more known during the GameStop trading frenzy.
Melvin Capital lost a lot of money because they had bet against GameStop, but many small investors bought the stock, causing its price to skyrocket. This event brought a lot of attention to Gabe and his fund.
Despite these challenges, Gabe is still respected in the hedge fund world for his earlier successes and trading skills.
Biography of Gabriel Plotkin
- Born: 1978 or 1979 (age 45–46), Portland, Maine, US
- Education: Northwestern University (B.A.)
- Occupation: Hedge fund manager
- Known for: Co-chairman of the Charlotte Hornets, Founder of Melvin Capital, Founder of Tallwoods Capital LLC
- Spouse: Yaara Bank-Plotkin
- Children: 4
Life of Gabriel Plotkin
Gabe Plotkin grew up in a wealthy family in Portland, Maine. He was a great student and graduated with honors in economics from Northwestern University.
Early Career
Gabe started his career at Henry Crown and Company, then worked at North Sound Capital as an analyst for consumer stocks.
In 2006, he joined S.A.C. Capital Advisors, a famous hedge fund, where he became one of the top traders, managing over $1 billion.
Family of Gabriel Plotkin
- Father: David S. Plotkin
- Grandfather: Charlene Perlow
Who is Gabe Plotkin’s Wife?
Gabe Plotkin is married to Yaara Bank-Plotkin, who is from Queens, New York. They have four children.
Gabe is Jewish and cares a lot about helping others. He supports veterans and the Jewish community through his charity work.
He is a board advisor for the Children of Fallen Patriots Foundation and, through the Gabriel and Yaara Plotkin Family Foundation, he supports many causes, including the Wounded Warrior Project and Chabad of Southampton.
Gabe Plotkin in a Movie
Sony Pictures made a movie called “Dumb Money” about the GameStop stock event from January 2021. In this movie, Seth Rogen plays Gabe Plotkin.
The trailer shows a scene where Gabe, played by Rogen, tells his wife that he lost $1 billion in one day and another $1 billion the day before, showing how this event affected his life.
Companies Owned by Gabe Plotkin
1. Melvin Capital Management
In 2014, Gabe started Melvin Capital Management in New York with $200 million from his old boss, Steve Cohen. He named the company after his grandfather.
By 2017, Melvin Capital managed $3.5 billion, and Gabe earned $300 million, making him one of the top hedge fund earners. In 2020, he earned over $850 million.
However, in 2021, the fund lost a lot of money due to the GameStop stock event. Despite trying to save the fund with help from big investors, Melvin Capital closed in May 2021.
2. Tallwoods Capital LLC
After closing Melvin Capital, Gabe started Tallwoods Capital LLC in 2022. This is a family office in Miami Beach, Florida, focusing on long-term investments.
3. Charlotte Hornets Ownership
In 2019, Gabe bought a small part of the NBA’s Charlotte Hornets and became an alternate governor.
In June 2023, he and Rick Schnall bought the team from Michael Jordan, who still owns a small part. Gabe is now the co-chairman of the team.
What is Gabe Plotkin’s Net Worth?
Gabe Plotkin’s net worth is about $400 million, according to sources like Marca. His net worth was higher at other times in his career.
In 2017, he earned $300 million, and in 2020, he earned $850 million, according to Forbes.
But he lost a lot of money during the GameStop event, which affected his wealth significantly. Despite these losses, Gabe is still in a better financial position than many others.
Conclusion
Gabe Plotkin is a notable figure in the finance industry, best known for his role as a hedge fund manager and founder of Melvin Capital Management and Tallwoods Capital LLC.
Despite facing significant challenges during the GameStop trading frenzy, he has remained a respected figure in his field.
Plotkin’s work extends beyond finance, with his philanthropic efforts supporting veterans and the Jewish community.
Additionally, his involvement with the Charlotte Hornets highlights his diverse interests and commitments.
Frequently Asked Questions (FAQs)
Q: What happened to Melvin Capital?
A: Melvin Capital closed in May 2021 after suffering significant losses during the GameStop trading event in early 2021.
Q: Who is Gabe Plotkin married to?
A: Gabe Plotkin is married to Yaara Bank-Plotkin, and they have four children.
Q: What philanthropic efforts is Gabe Plotkin involved in?
A: Gabe Plotkin supports various causes, including veterans and the Jewish community.
He is a board advisor for the Children of Fallen Patriots Foundation and supports the Wounded Warrior Project and Chabad of Southampton through his family foundation.
Q: What is the movie “Dumb Money” about?
A: “Dumb Money” is a movie by Sony Pictures that dramatizes the GameStop short squeeze event from January 2021. In the movie, Seth Rogen plays Gabe Plotkin.
Q: What other business interests does Gabe Plotkin have?
A: Besides his hedge fund work, Gabe Plotkin has a minority stake in the Charlotte Hornets and serves as the team’s co-chairman.
