John Paulson
John Alfred Paulson ( born December 14, 1955 in New York City ) is an American hedge fund manager and founder and president of the investment company Paulson & Co.
Training
Paulson graduated in 1978 Bachelor's degree in Finance from New York University 's College of Business and Public Administration "summa cum laude" in 1980 and made his MBA at Harvard Business School.
Career
After his studies he worked from 1980-1982 as a consultant for the U.S. management consultancy Boston Consulting Group. Subsequently, he worked from 1982-1984 for Odyssey Investment Partners. From 1984-1988 he was managing director for mergers and acquisitions in the U.S. investment bank Bear Stearns. Paulson worked from 1988-1992 as a partner at the private equity firm Gruss Partners. In 1994 he founded his own hedge fund Paulson & Co.
The he founded Paulson & Co. managed in June 2007, a fortune of 12.5 billion U.S. dollars. In January 2008 it was 28 billion U.S. dollars. Former U.S. Federal Reserve Chairman Alan Greenspan in January 2008 Consultant of Paulson & Co. company. It was agreed that Greenspan will work exclusively for the Paulson & Co. hedge fund as a consultant.
Beneficiary sub-prime crisis
Paulson became famous because he had bet during the subprime crisis in time to the real estate market and in 2007 earned about $ 3.7 billion, more than any other hedge fund managers this year. The investment magazine Alpha led Paulson in the list of " Kings of Cash " ( German: kings of money), was listed in the Paulson for the first time ever, ranked first in the Financial Times Germany, therefore, referred to him as " subprime Croesus ".
In April 2010, the U.S. Securities and Exchange Commission filed a lawsuit against Goldman Sachs, as these it " illegally " admitted that a client ( Paulson's hedge fund ), " the bet against the mortgage market, a decisive influence took on what mortgages were included in a portfolio. At the same time other customers were told that the selection successes by independent, objective third party. " Paulson had worked towards that 2007 -AC1 mortgage loans were gathered in the Goldman Abacus bond, which would probably be lazy and then bet on precisely this course. Paulson himself but has not been charged by the SEC.
Yahoo acquisition by Microsoft
In May 2008, Paulson exercised jointly with the U.S. billionaire Carl Icahn pressure on the management of Yahoo. The aim was to facilitate exchange by the Yahoo board members a takeover by Microsoft. The takeover attempt by Microsoft had failed before because of a too low assessed purchase price.
Private means
The US-based Forbes magazine estimated his personal fortune in 2008 to 3 billion U.S. dollars after the 2007 estimate was still 2.5 billion U.S. dollars. So Paulson was ranked 368 of the richest people in the world. 2010 Forbes estimated his fortune at about $ 12 billion, which Paulson has moved up in the list of richest people in the world at number 45. According to the Wall Street Journal, Paulson has received a credit of $ 5 billion making it the largest paycheck of the story in 2010. Paulson is also a major shareholder of the Canadian mining company Gabriel Resources, in spite of environmental concerns and allegations of corruption in Romania will take place in the Roşia Montană the largest gold mine in Europe in operation.
John Paulson sat down in a week-long bidding war for the majority of shares of the company Steinway & Sons against the financiers Kohlberg & Co. by and acquired in August 2013, the majority of the parent group Steinway Musical Instruments at a cost of approximately $ 512 million.
Family
Paulson is married and has two children. He lives with his family on the Upper East Side in New York City.
Since 2006, Paulson owns a villa in the elite enclave of Southampton on Long Iceland, east of Manhattan. " Old Trees " as the property was built in 1911 is, has more than four acres of land, including the guest house, barn, pool and tennis court.