gabriel plotkin family

See rating report below to learn why this organization is not currently eligible. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Gabriel was on in Portland, Maine and this is where he grew up. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer Tradewater. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. 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. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. 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. In the hedging end of the financial industry, fortunes are made and lost with frequency. 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. All Rights Reserved. WallStreetBets has a reputation for being rude and rude. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. The Plotkin family name was found in the USA, and Canada between 1911 and 1920. You will not find Mr. Plotkin on social media. 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. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. Bank was brought up in New York, USA, and her ethnicity is American. Billionaire Gabriel Plotkin Buys the Dip in These 2 Stocks - Yahoo Finance Gabriel Plotkin Melvin capital worth Wife Age. 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. (Don't see an email in your inbox? He was raised in a Jewish household, but not much more about his personal beliefs are known. Gabriel was on in Portland, Maine and this is where he grew up. He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. But this is a rumor, and there is no confirmation about it. There he earned his bachelors degree in Economics, graduating in 2001. Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. He graduated from Northwestern University with an Economics degree in 2001. The couple married in 2006 and are still together. If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. Your email address will not be published. Public, Society Benefit - Multipurpose and Other N.E.C. Sign up to get ProPublicas biggest stories delivered straight to your inbox. This organization is required to file an IRS Form 990-PF. Sign up to get ProPublicas biggest stories delivered straight to your inbox. Michael Jordan/Hornets Investment: In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordans ownership stake in the NBAs Charlotte Hornets. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. Small organizations filing a Form 990N "e-Postcard" are not included in this data. Gabe Plotkin is the CIO of Melvin Capital. You've probably heard what went. Buried in Reddit, the Seeds of Melvin Capital's Crisis He has a generous heart when it comes to helping those who are in need. Need the ability to download nonprofit data and more advanced search options? Give the page a little longer to finish There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. <> f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n 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. 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. Want to see how you can enhance your nonprofit research and unlock more insights? 4 0 obj 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.". All net worths are calculated using data drawn from public sources. The rumors of bankruptcy were found to be untrue. Total assets. In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension. Key Persons data is currently unavailable for this organization. Hedge Fund Manager. There were bits of gossip about Yaara Bank-Plotkin and Gabe Plotkin getting separation on January 31, 2021. Melvins put positions in the other stocks were much smaller in market price value. %PDF-1.7 % 1 0 obj In 1920 there were 60 Plotkin families living in New York. ET The net worth of Gabriel Plotkin reportedly took a. ProPublica posts new tax forms as they are released by the IRS. In December 2020 Plotkin purchased 2 adjacent houses in Florida for $44 million. Gabriel Plotkin has a rich personal life as well as a busy career. Cabe Plotkin raised almost a billion dollars for the fund. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. If the problem persists contact us. Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. Both are natives of the East Coast. By 2018 the funds assets under management had ballooned to $3.5 billion. Yaara Bank-Plotkin is the wife of Gabriel or Gabe Plotkin. Gregory Plotkin - Wikipedia According to the Wall Street Journal, Melvin Capital lost 53% on its investments in January 2021 alone. 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. to get more GuideStar Nonprofit Profile data today! In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Gabriel and Yaara Plotkin Family Foundation. Michael Jordan's ownership stake in the NBA's Charlotte Hornets. The couple married in 2006 and are still together. No wonder he told a congressional committee the experience humbled him. 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). At the end of Q1 2021, Melvin reported losses of 49%. Melvin dropped the bet not because our investment thesis had changed, but because something unprecedented was happening, Plotkin said. If this organization has filed an amended return, it may not be reflected in the data below. Ratings are calculated from one or more beacon scores. 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. According to Wikipedia, Gabriel Plotkin is a college graduate. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. 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. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive 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. Gabriel Plotkin sharpened his . From https://projects.propublica.org/nonprofits. (BMF affiliation code: 3). 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. David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com Meanwhile, shares of Ollies Bargain Outlet Holdings, another negative bet, rose about 30 percent through January 27. Who is Gabe Plotkin's wife? Everything you need to know Gabriel Plotkin Net Worth: Info on Melvin Capital Founder's Fortune That's a big number, but it is still the lowest such combined earnings figure since the financial crisis. In his testimonypublished online by The Washington PostPlotkin admitted that he was far removed from his background growing up in a middle-class family in Portland, Maine, and going to public high school. 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. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. Melvin Capital CEO Gabriel Plotkin delivers his opening statement. endobj The Giving Basket is having some issues. proceeded to return all outside capital and established a family office . He started his career under Ken . This organization is not listed in the IRS's most recent. Save my name, email, and website in this browser for the next time I comment. 9. Mr. Plotkin is married to Yaara Bank-Plotkin. Melvin did not return a call seeking comment. 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. Total revenues. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. The fund is led by Founder & CIO Gabriel Gabe Plotkin. Melvin Capital: In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Melvin Capital - Wikipedia 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. These audits are copied from the Federal Audit Clearinghouse. Taxable trusts and private foundations that are required to file a form 990PF are also included. Net Worth. Register now. Extracted financial data is not available for this tax period, but Form 990 documents are available for download. Melvin Capital lost 53% on its investments in January 2021 alone. $400 Million. Notwithstanding, neither Yaara Bank-Plotkin nor Gabriel Plotkin has affirmed or denied the gossip about their separation. They gained considerably due to the problems faced during the launch of Cyberpunk 2077. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. Telephone: 2128320400 SAC was fully shuttered in 2016. Two other firms invested . about GuideStar Pro. 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. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). 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. Gregory Plotkin is an American film editor and director, known for his work in horror films, including Get Out (2017), Happy Death Day (2017), Game Night (2018), and several films within the Paranormal Activity franchise. His official title was a trader. Why is it so difficult to predict events and consequences too far into the future? This data release includes only a subset of what can be found in the full Form 990s. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. The 10 Richest Hedge Fund Managers In The World Today. He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. [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. 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. Plotkin founded Melvin Capital in 2014. 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). A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. This was a job with a lot of responsibility as he handled the stocks that were valued at approximately $1.3 billion. It is known for its short-selling strategies. Location 345 Park Ave New York City, NY 10154-0004 United States. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. There were two or three gossipy tidbits about Yaara and Gabriel petitioning for a separation. Facebook gives people the power. 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. The stock would rise another 13 percent before peaking on February 9. The couple was living a happy married life till 2018. The most Plotkin families were found in USA in 1920. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. Gabriel Plotkin has a rich personal life as well as a busy career. Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital's $44 On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. Please share any feedback you have about Foundation Directory Online. He currently serves as the Chief Investment Officer of the hedge fund that he established. The Form 990 is a document that nonprofit organizations file with the IRS annually. Plotkin founded Melvin Capital in 2014. spent with my family and on Melvin Capital, which I founded six years ago. Bank-Plotkin carries on with a private life as she has not unveiled any insights regarding her family, guardians, kin, and foundation. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. Please check your inbox in order to proceed. These audits are copied from the Federal Audit Clearinghouse. He also owns property in New York City. Check back later to see if this organization has a rating history! From https://projects.propublica.org/nonprofits. about GuideStar Pro. Many of these posts were laced with antisemitic slurs directed at me and others, he said. Melvin Capital Founder Gabriel Plotkin Reportedly Lost $460 Million in Short Squeeze By Dan Clarendon Feb. 23 2021, Published 10:59 a.m. Federal prosecutors alleged that he was the recipient of illegal insider information. Gabriel Plotkin has a rich personal life as well as a busy career. Gabe Plotkin is the CIO of Melvin Capital. He raised nearly $1 billion. She is a native New Yorker. See the list , The data powering this website is available programmatically, via an API. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. endobj Both are natives of the East Coast. . 9. Three of them surged in price through late January. Small organizations filing a Form 990N "e-Postcard" are not included in this data. Scientists and philosophers have studied the process of how knowledge is expanded. This was about 32% of all the recorded Plotkin's in USA. Access lists of funders based on detailed search criteria and other features such as: Copyright 2023 Candid. Subscribe Unlock nonprofit financial insights that will help you make more informed decisions. Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. Click on the link in that email Sign in or create an account to view Form(s) 990 for 2019 and 2018. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. ynfx9/EYQ 7dM2gcAs~/cojcbD? GameStop Short-Seller Gabe Plotkin To Expand In Miami Beach Offers may be subject to change without notice. Gabe Plotkin Shutters Melvin Capital After GameStop Disaster Contact Information. While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. Chicago. Gabriels company suffered a big loss in 2021. If it is your nonprofit, add geographic service areas to create a map on your profile. 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. The posts said things like, Its very clear we need a second Holocaust. [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. Hes still in business and going strong. The people, governance practices, and partners that make the organization tick. Prior to Melvin Capital, Plotkin was a prominent trader at SAC Capital. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Despite the turmoil, Plotkin insisted that the $ 2.75 billion investment Melvin secured from Ken Griffins Citadel and Steve Cohens Point72 in late January was not intended to bail out the fund because it was grappling with heavy casualties. 3 0 obj This organization has not provided GuideStar with a mission statement. 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. 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. 2020. Last Update. Why is it so hard to define, let alone understand. 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. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Revenue and expense data is not available for this organization. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. They have a son named Eytan Shmerel. Copyright 2021 Pro Publica Inc. 2023 Children of Fallen Patriots Foundation. Submit a correction suggestion and help us fix it! 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. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. Gabe Plotkin got married in 2006 to a lady named Yaara Bank. They participate in annual support drives for this purpose. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . 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. His compensation after that years performance was $300 million. by Bana Miller. The acquisition valued the Hornets at $1.5 billion. 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. Read the API documentation . Yaara doesnt have a Wikipedia page devoted to her yet. Market Realist is a registered trademark. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. Updated Feb 18, 2021 at 5:13 PM. All Rights Reserved. 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. 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. Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. 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. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. 2 0 obj This organization has no recorded board members. NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. Melvin Capital Management Founder and Chief Investment Officer Joins 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. Gabe is 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. 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 | Cause IQ Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. Melvin Capital CEO: We were not 'bailed out' by Citadel - CNBC . According to Chabdic, Mr. Plotfin and his wife both Yaara are both passionate about the land of Israel.