Public, Society Benefit - Multipurpose and Other N.E.C. GameStop was just one of the shorts that went south on the company. The Giving Basket is having some issues. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. A verification email has been sent to you. July 28, 2021 Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. Try our monthly plan today. 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. Read the API documentation . Numerous searches have not turned up any official social media accounts that are accessible by the public. March 2023. Testimony of Gabriel Plotkin, founder of Melvin Capital Management endobj Celebrity Net Worth reports Plotkins net worth is $400 million, suggesting a change in fortune for a man who enjoyed $850 million in earnings last year. 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. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Profile Last Updated: Billionaire Gabriel Plotkin Buys the Dip in These 2 Stocks - Yahoo Finance Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. He enrolled in courses at Northwestern University. Learn more If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. 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). a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. The subreddit users of WallStreetBets took the long position on the stock and rumors of bankruptcy began to circulate. [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. This data release includes only a subset of what can be found in the full Form 990s. The Gabriel and Yaara Plotkin Family Foundation is a private foundation located in New York, NY. The firm, which is named after Gabes grandfather, quickly raised $1 billion in capital. The total assets subtleties and the subtleties of Yaara Bank-Plotkins compensation and profit are kept hidden. 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. 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. He raised nearly $1 billion. "Gabe Plotkin and team have delivered exceptional results over the history of Melvin. View the profiles of people named Gabriel Plotkin. 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. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION - ProPublica He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. 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. Join Facebook to connect with Gabriel Plotkin and others you may know. They have a son named Eytan Shmerel. 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. 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. See the list , The data powering this website is available programmatically, via an API. The Foundation supports Chabad Israel Center and made 11 grants last year. Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. In 2017, the fund finished up 41%. Melvin Capital CEO: We were not 'bailed out' by Citadel - CNBC 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. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. SAC's founder, Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. 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.. $1,513,822. People may receive compensation for some links to products and services on this website. Gabeis best-known for being the founder of Melvin Capital Management which had a public spat with a community of redditers in 2021 over the company GameStop. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. He covered the shorts and is continuing to move forward in his business despite the loss. Already have a GuideStar Account? Register now. 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) Click on the link in that email [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. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. Melvin Capital lost 53% on its investments in January 2021 alone. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. Gabe has been married to Yara Bank-Plotkin since 2006. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. ET The net worth of Gabriel Plotkin reportedly took a. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. You're faster than our page! The firm ended 2020 with $12.5 billion under management. 2020. Melvin Capital CEO Gabriel Plotkin delivers his opening statement. 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. 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. $5,131,925. 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. 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 . Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. Copyright. Granted, Melvin went through a rough patch, but weve always had an excess margin, and we werent looking for an injection of cash, he said. Terms of We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. 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. 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. Subsequent to the GameStop short squeeze event, Melvin Capital disclosed that it is the target of at least nine lawsuits relating to its behavior during that period. Net Worth. 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. Copyright 2021 Pro Publica Inc. Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. endobj 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. Melvin Capital head, a Hornets owner, battered in stock swing Toward the end of 2014, Plotkin left SAC to establish his own company. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. 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. New York had the highest population of Plotkin families in 1920. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. The most Plotkin families were found in USA in 1920. There were bits of gossip about Yaara Bank-Plotkin and Gabe Plotkin getting separation on January 31, 2021. Our projects result in quantifiable . Give the page a little longer to finish But on Wednesday, Melvin filed an amended version of the document disclosing that as of December 31 it held put positions in an additional eight companies not previously known. 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. 2020. GameStop Short-Seller Gabe Plotkin To Expand In Miami Beach Hedge Fund Manager. SACs founder,Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. She is a native New Yorker. Subscribe Unlock nonprofit financial insights that will help you make more informed decisions. Try a low commitment monthly plan today. . . The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. They gained considerably due to the problems faced during the launch of Cyberpunk 2077. Melvin did not return a call seeking comment. It is now our job to earn it back, he said. 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. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. 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. Gabe has been married to Yara Bank-Plotkin since 2006. She is a native New Yorker. He has a generous heart when it comes to helping those who are in need. Gabriel started the venture the board firm in 2014 in New York. Small organizations filing a Form 990N "e-Postcard" are not included in this data. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. Six of those eight companies common stocks surged in price in January. Many of these posts were laced with antisemitic slurs directed at me and others, he said. Location 345 Park Ave New York City, NY 10154-0004 United States. 2023 Celebrity Net Worth / All Rights Reserved. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. Founder and CEO of Melvin Capital (from 2014-2022) Net worth: $400 million (estimated) Before Melvin Capital, Plotkin worked at SAC Capital under Steve Cohen. SAC was fully shuttered in 2016. Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. We welcome all corrections and feedback using the button below. Gabriel Plotkin, formerly a top trader for Steve Cohen's Point72, put out his own shingle in 2014, opening Melvin Capital with $1 billion in seed money . The couple was living a happy married life till 2018. You've probably heard what went. Duplicated download links may be due to resubmissions or amendments to an organization's original return. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. 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. He currently serves as the Chief Investment Officer of the hedge fund that he established. Plotkin, the founder, and CIO of Melvin is a former trader and consumer stock specialist at Sigma Capital Management, then a division of SAC Capital, where he spent eight years. Total assets. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Facebook gives people the power. Read the full story . Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ 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. At the end of Q1 2021, Melvin reported losses of 49%. By 2018 the fund's assets under management had ballooned to $3.5 billion. This organization is not listed in the IRS's most recent. 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. CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. What's Gabe Plotkin's Net Worth as Melvin Capital Shutters? Mr. Plotkin is married to Yaara Bank-Plotkin. [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. In 2017, it's 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). In December 2020 Plotkin purchased 2 adjacent houses in Florida for $44 million. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. This organization is required to file an IRS Form 990-PF. %PDF-1.7 % 1 0 obj short selling).Gabriel Plotkin Melvin capital worth Wife Age, In its first full year in operation, Melvin Capital had returns of 47%, ranking it 2nd in Bloombergs 2015 list of top-performing funds with $1 billion or more in assets under management. These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. 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. Gabe received his bachelor's degree in economics from Northwestern University. See rating report below to learn why this organization is not currently eligible. Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. He graduated from Northwestern University with an Economics degree in 2001. Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. The hedge fund is getting a boost from Citadel LLC and Point72 Asset Management, however. No wonder he told a congressional committee the experience humbled him. about GuideStar Pro. If this organization has filed an amended return, it may not be reflected in the data below. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Fast-track your prospect research with a Professional plan subscription. Gabe Plotkin Shutters Melvin Capital After GameStop Disaster 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. 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. His compensation after that years performance was $300 million. At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Want to see how you can enhance your nonprofit research and unlock more insights? CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul Both are natives of the East Coast. The net worth of Gabriel Plotkin reportedly took a beating earlier in January as Reddit users took aim as his Melvin Capital Management in a headline-making short squeeze of GameStop stock (NYSE: GME). If this organization has filed an amended return, it may not be reflected in the data below. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. Save my name, email, and website in this browser for the next time I comment. Three of them surged in price through late January. Check back later to see if this organization has a rating history! We recognize that not all metrics and beacons equally predict a charitys success. The people, governance practices, and partners that make the organization tick. Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. After college he went to work at the hedge fund Citadel LLC. Melvin's Plotkin says fund follows rules; GameStop frenzy "humbled" him And what they have learned has lessons for understanding where generative AI models may go. Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. He also owns property in New York City. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com 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. 2 0 obj Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. And how will we know when we see it? Gabe's company was worth $12.5 billion before suffering a huge loss. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. 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. 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. 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. [18] Users of the subreddit r/WallStreetBets made widespread bets that GameStops stock would increase in value. The couple married in 2006 and are still together. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. }p . Learn More 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. 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 founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. Key Persons data is currently unavailable for this organization. Read the API documentation . If the problem persists contact us. Gabriel and Yaara Plotkin Family Foundation. 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 5. Gabriel Bankier Plotkin - Chief Operating Officer - LinkedIn All net worths are calculated using data drawn from public sources. His official title was a trader. ProPublica posts new tax forms as they are released by the IRS. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? 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. Bank was brought up in New York, USA, and her ethnicity is American. Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital's $44 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.". Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. According to the same WSJ article, Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. He was in charge of managing a portfolio of consumer stocks. The common stock of Ligand Pharmaceuticals, Melvins second-largest put position among this new group, nearly doubled for the month through January 28. You will not find Mr. Plotkin on social media. Published. David F. Kurd is the firms COO. He was raised in a Jewish household, but not much more about his personal beliefs are known. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. It wasnt long before the fun operated with over a billion in assets under its management. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. He had previously been one of the most prominent. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Click here to resend it.). Please share any feedback you have about Foundation Directory Online. Yaara doesnt have a Wikipedia page devoted to her yet. In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension. (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) By 2018 the funds assets under management had ballooned to $3.5 billion. Melvin Capital: In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. I named Melvin after my grandfather, who ran a convenience store. Ratings are calculated from one or more beacon scores. Who is Gabe Plotkin's wife? Everything you need to know Hes still in business and going strong. Workwear has been the catalyst for designer Heron Preston, launching his brand in 2016 through an inspired eye that identified blue-collar workers of New York City as "style icons" and "the faces of fashion.". Meanwhile, shares of Ollies Bargain Outlet Holdings, another negative bet, rose about 30 percent through January 27. Why Aren't Donated Clothes Always Given Away for Free? In 1920 there were 60 Plotkin families living in New York. With WallStreetBets' Triumph, Wall Street Warns of Contagion During the testimony, Plotkin explained that Melvin Capital shorted GameStop stock because the firm did and still does believe that the retail chains business model is being overtaken by video game downloads. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop.
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