proceeded to return all outside capital and established a family office . 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. to get more GuideStar Nonprofit Profile data today! He was raised in a Jewish household, but not much more about his personal beliefs are known. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions - YouTube Thanks for watching "How Gabriel Plotkin (Gamestop & Melvin Capital) Lost Billions"! The couple engages in some of their favorite activities with their son including sporting events and petting zoos, like any other family, but they feel a strong sense of community and they are dedicated to doing what they can to support the Jewish Community through their efforts in a partnership with Chabad. The Foundation supports Chabad Israel Center and made 11 grants last year. Gabe Plotkins Melvin Capital Management late Wednesday provided new insight into negative positions the firm held at year-end that may have contributed to its stunning 53 percent loss in January. Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. Melvin Capital lost 53% on its investments in January 2021 alone. This is a calculated risk that can happen at any time, and all hedge betters realize that there is no such thing as a sure deal, so they have contingency plans. David F. Kurd is the firms COO. Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). This data release includes only a subset of what can be found in the full Form 990s. Save my name, email, and website in this browser for the next time I comment. Melvins put positions in the other stocks were much smaller in market price value. With WallStreetBets' Triumph, Wall Street Warns of Contagion He has literally no presence on social media on any of the platforms. Melvin Capital CEO Gabriel Plotkin delivers his opening statement. BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. Learn More He enrolled in courses at Northwestern University. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. He was called Portfolio Manager B in the scandal. You've probably heard what went. Facebook gives people the power. 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. Billionaire Gabriel Plotkin Buys the Dip in These 2 Stocks - Yahoo Finance Gabriel Plotkin sharpened his . 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). Gabriel and Yaara Plotkin Family Foundation. It wasnt long before the fun operated with over a billion in assets under its management. His compensation after that year's performance was $300 million. WallStreetBets has a reputation for being rude and rude. In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. The subreddit users of WallStreetBets took the long position on the stock and rumors of bankruptcy began to circulate. In 1920 there were 60 Plotkin families living in New York. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. Melvin Capital founder, Gabriel Plotkin's, testimony before the House Committee on Financial Services regarding the recent GameStop short sell. You're faster than our page! Gabriel and Yaara got married in the year 2006. 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. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. 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. This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Northwestern UniversityAfter graduating from Northwestern University with a degree in Economics in 2001,Gabriel Plotkinjoined Ken Griffins hedge fund Citadel LLC, and later Connecticut-based hedge fund North Sound Capital. I named Melvin after my grandfather, who ran a convenience store. Total assets. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Melvin Capital: In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. about GuideStar Pro. Gabe's company was worth $12.5 billion before suffering a huge loss. You will not find Mr. Plotkin on social media. Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. 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. She is a native New Yorker. [18] Users of the subreddit r/WallStreetBets made widespread bets that GameStops stock would increase in value. His compensation after that years performance was $300 million. Your donation attempt encountered a problem. Gabe Plotkin Net Worth | Celebrity Net Worth 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. Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. 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 fund's future revenues. Read the IRS instructions for 990 forms. According to Chabdic, Mr. Plotfin and his wife both Yaara are both passionate about the land of Israel. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. 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. Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923, Total Revenue and Expenses - No Data Available, Salary of Key Persons - No Data Available, IRS Published Data (Business Master File) - Data Available, Data Sources (IRS Forms 990) - Data Available, How to Donate Food and Prevent Food Waste. GameStop was just one of the shorts that went south on the company. . (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) 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. The Gabriel and Yaara Plotkin Family Foundation is a private foundation located in New York, NY. Telephone: 2128320400 Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ Yaara doesnt have a Wikipedia page devoted to her yet. 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. Gabe and Yaara also have two beautiful kids, a son, and a daughter. Testimony of Gabriel Plotkin, founder of Melvin Capital Management Hes still in business and going strong. He graduated from Northwestern University with an Economics degree in 2001. Tradewater. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . Updated Feb 18, 2021 at 5:13 PM. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. They are associated with the Chabad Israel Center. . Extracted financial data is not available for this tax period, but Form 990 documents are available for download. Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. See rating report below to learn why this organization is not currently eligible. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. He still manages assets of around $12.5 billion through Melvin Capital. All net worths are calculated using data drawn from public sources. 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. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. 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. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. They have a son named Eytan Shmerel. 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. 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. 2023 Forbes Media LLC. He has a generous heart when it comes to helping those who are in need. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. He established Melvin Capital, a fund that was named in honor of his late grandfather. After college he went to work at the hedge fund Citadel LLC. }p . Bank was brought up in New York, USA, and her ethnicity is American. 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. 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. These audits are copied from the Federal Audit Clearinghouse. The two stocks for which Melvin held puts that didnt move much at price during January were Trinity Industries and WW International. Melvin Capital's Gabriel Plotkin has been in the news quite a bit recently after his hedge fund may have posted a loss in the billions in the stock market shorting GameStop. <> From https://projects.propublica.org/nonprofits. Gabe Plotkin is the CIO of Melvin Capital. Duplicated download links may be due to resubmissions or amendments to an organization's original return. Gabriel was on in Portland, Maine and this is where he grew up. All Rights Reserved. Profile Last Updated: 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. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. Gabriel Plotkin is an American businessman and entrepreneur who founded Melvin Capital Management LP. Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. Rating histories are available for a growing number of rated organizations. Click here to search for this organization's Forms 990 on the IRS website (if any are available). The Giving Basket is having some issues. May 19, 2022. 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. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. A verification email has been sent to you. Gabriel was on in Portland, Maine and this is where he grew up. The couple married in 2006 and are still together. Mr. Plotkin is married to Yaara Bank-Plotkin. 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. Why Aren't Donated Clothes Always Given Away for Free? Gabe Plotkin got married in 2006 to a lady named Yaara Bank. How old is Yaara Bank-Plotkin? Since its inception six years ago, Melvin had held the position because the fund believed GameStops business model of selling video games in physical stores was overtaken by digital downloads via the Internet, Plotkin said. Scientists and philosophers have studied the process of how knowledge is expanded. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION - ProPublica David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com Others have sent me equally profane and racist texts. People may receive compensation for some links to products and services on this website. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> By 2018 the funds assets under management had ballooned to $3.5 billion. Who Paid The Largest Individual Tax Bill Of All Time? about GuideStar Pro. Published. The mission of Children of Fallen Patriots. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. 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. 3 0 obj The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. Duplicated download links may be due to resubmissions or amendments to an organization's original return. . . Click here to resend it.). Testimony of Gabriel Plotkin, Founder and Chief Investment Officer, Melvin Capital Management Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, I would like . 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. SAC was fully shuttered in 2016. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. Gabriel Plotkin - Melvin Capital Management - Insider Monkey According to the Wall Street Journal, Melvin Capital lost 53% on its investments in January 2021 alone. 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. He raised nearly $1 billion. Melvin Capital also contended that rumors of the fund intending to file for bankruptcy are false. 5. 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. These included GameStop, AMC Networks, Cryoport, First Majestic Silver, GSX Techedu, and Simon Property Group. 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. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. The redditers banded together to perform a "short squeeze", where the price of the stock is sent rocketing upward, causing the short sellers to lose massive amounts of money very quickly. Check back later to see if this organization has a rating history! When Plotkin was still employed at SAC Capital a scandal broke out. Gabriel Plotkin - Forbes Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Leadership & Adaptability methodology because we have not received data from the charity regarding its leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes.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. Subscribe Unlock nonprofit financial insights that will help you make more informed decisions. Melvin Capital - Wikipedia Gabriel Plotkin Biography& Net Worth - TheMediaMunk But this is a rumor, and there is no confirmation about it. Sign in. The couple married in 2006 and are still together. Gregory Plotkin - Wikipedia All Rights Reserved. He currently serves as the Chief Investment Officer of the hedge fund that he established. 2020. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive <>/Metadata 97 0 R/ViewerPreferences 98 0 R>> Family foundations . Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. He also owns property in New York City. From https://projects.propublica.org/nonprofits. 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. 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. And what they have learned has lessons for understanding where generative AI models may go. "Gabe Plotkin and team have delivered exceptional results over the history of Melvin. (W99). 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. Gabriel Plotkin has a rich personal life as well as a busy career. by Bana Miller. Note: The absence of a rating does not indicate a positive or negative assessment; it only indicates that we have not yet evaluated this organization. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. ProPublica posts new tax forms as they are released by the IRS. Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Gabriel and Yaara Plotkin Family Foundation - Charity Navigator $5,131,925. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. 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.