How rich is Daniel S. Loeb?
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Daniel Seth “Dan” Loeb (created December 18, 1961) is an American hedge fund manager. He’s the creator and chief executive of Third Point LLC, a New York-based hedge fund using a portfolio worth $14 billion. “New York” has noted that Loeb’s “favorite strategy” would be to buy into distressed businesses, replace ineffective direction, and return the businesses to profitability, which “is the real key to his success.” In April 2014 his private net worth was estimated at $2.2 billion, compared with $1.5 billion the preceding year. “The sole thing I care about … is making money for my investors”, he’s said.
In October 2013, Loeb issued a letter scrutinizing the government of Sotheby’s. It declared that Third Point had obtained “9.3% of the outstanding shares” and addressed Third Point’s issues regarding the government of Sotheby’s. These concerns are summarized as, “we’re troubled from the Organization ‘s chronically poor operating margins and deteriorating competitive position relative to Christie’s, as evidenced by all the Contemporary and Contemporary artwork evening sales during the past several years.” William Ruprecht would remain as CEO along with a proxy competition to be closed at Sotheby’s AGM would end.