Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.
The Fabulous Life Of Dan Loeb - The Hedge Fund Manager At War Against Bill Ackman
The Fabulous Life Of Dan Loeb - The Hedge Fund Manager At War Against Bill Ackman
Jul 26, 2021, 12:45 IST
Daniel Seth Loeb is a West Coast kid born and raised.
Advertisement
Loeb, who's still known for his big mouth, had to hire a bodyguard to protect him when he offended other kids in school.
Advertisement
Growing up near the beach, Loeb always been a life-long surfer.
He became interested in investing from a very young age.
Advertisement
Speaking of his family, Loeb's great-aunt is the creator of the Barbie doll.
The hedge fund manager first started investing in the stock market during high school.
Advertisement
After two years at UC Berkeley, he transferred to Columbia University in New York where he made a terrible investment his senior year.
After graduation, Loeb joined private equity firm Warburg Pincus and helped them make millions on an investment.
Advertisement
He didn't always work in finance, though. Loeb left the private equity world in 1987 to work for a record label.
Being part of the New York music scene, Loeb befriended iconic hip-hop artist Fab 5 Freddy.
Advertisement
In 1991, he moved to LA to work for Jefferies.
Then it was back to New York, to join Citicorp in 1994.
Advertisement
After only one year, he left to start his own hedge fund.
His hedge fund Third Point got its name from Loeb's love of surfing.
Advertisement
Outside of his hedge fund, Loeb has an impressive art collection, which has actually proved to be a good investment.
Loeb, who is also politically active, used to support his former classmate President Obama, but that changed.
Advertisement
At age 51, he's extremely athletic and competitive.
Loeb, who is a yogi, is married to a beautiful former yoga instructor.
Advertisement
The Loeb family lives in a super swanky Upper West Side penthouse.
During his career as an activist investor, Loeb has earned a reputation for his strongly worded letters calling for board shakeups and CEO resignations.
Advertisement
He recently waged a fight with Yahoo!'s board.
He cleaned up on his Greek Government Bond bet last year.
Advertisement
He also made the Forbes billionaires list.
Third Point did really well in 2012.
Advertisement
Now he's taking on Bill Ackman by going long Herbalife.