With WallStreetBets' Triumph, Wall Street Warns of Contagion Click here to resend it.). }p . Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Telephone: 2128320400 If this organization has filed an amended return, it may not be reflected in the data below. 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. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. The specific age, date of birth, and zodiac indication of Yaara are absent to people in general yet. 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. The firm, which is named after Gabes grandfather, quickly raised $1 billion in capital. Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). Gabe Plotkin got married in 2006 to a lady named Yaara Bank. Sign in or create an account to view Form(s) 990 for 2019 and 2018. His compensation after that year's performance was $300 million. Gabriel Plotkin - Melvin Capital Management - Insider Monkey Access lists of funders based on detailed search criteria and other features such as: Copyright 2023 Candid. The stock would rise another 13 percent before peaking on February 9. If it is your nonprofit, add geographic service areas to create a map on your profile. The Form 990 is a document that nonprofit organizations file with the IRS annually. Both are natives of the East Coast. They have a son named Eytan Shmerel. It is known for its short-selling strategies. Your email address will not be published. Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. Gabriel Plotkin has a rich personal life as well as a busy career. And how will we know when we see it? Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. Others have sent me equally profane and racist texts. The acquisition valued the Hornets at $1.5 billion. She is a native New Yorker. 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. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. The 10 Richest Hedge Fund Managers In The World Today. Duplicated download links may be due to resubmissions or amendments to an organization's original return. (W99). Why is it so hard to define, let alone understand. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. Terms of Plotkin founded Melvin Capital in 2014. This data release includes only a subset of what can be found in the full Form 990s. 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 funds future revenues. 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. Mr. Plotkin is married to Yaara Bank-Plotkin. "Gabe Plotkin and team have delivered exceptional results over the history of Melvin. The steep decline had largely been attributed to a Reddit-fueled assault on heavily shorted stocks including GameStop, which bludgeoned short-sellers like Melvin and other hedge fund firms. In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. Gabriel Plotkin, CEO of Melvin Capital Management, testifies before Congress (YouTube snapshot) Melvin Capital, the hedge fund belonging to Gabe Plotkin, is shutting down . In 2019, Gabe and another hedge fund manager bought a portion of Michael Jordan's ownership stake in the NBA's Charlotte Hornets. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. He is Jewish. Please refresh the page by Bana Miller. proceeded to return all outside capital and established a family office . I named Melvin after my grandfather, who ran a convenience store. BOSTON (Reuters) - Gabriel Plotkin will on Thursday explain his hedge fund's massive losses in the GameStop trading frenzy, and he plans to tell U.S. lawmakers that Melvin Capital Management follows securities laws, does not manipulate stocks and conducts extensive research before making bets. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. Offers may be subject to change without notice. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Join Facebook to connect with Gabriel Plotkin and others you may know. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Leadership & Adaptability methodology because we have not received data from the charity regarding its leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes.Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization. Gabriel Plotkin has a rich personal life as well as a busy career. 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. The Highland Project, one of eight organizations in New Profits first Economic Mobility Cohort, is building and co-powering a coalition of Black women leaders focused on addressing the racial wealth gap by driving bold, structural change for Black communities. We welcome all corrections and feedback using the button below. Your email address will not be published. He was involved as a person of interest in the case that was investigated by the Securities and Exchange Commission. 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. Gabriel was on in Portland, Maine and this is where he grew up. This organization is not listed in the IRS's most recent. Read the API documentation . We learned from WikiProject Topics some facts about Gabriel Plotkins early years. This was a serious crime. 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. Who Paid The Largest Individual Tax Bill Of All Time? He has a generous heart when it comes to helping those who are in need. View the profiles of people named Gabriel Plotkin. 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. 09/07/2021 Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. All Rights Reserved. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. 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. Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. Just two of the stocks prices did not move in a meaningful manner. The fund had also repositioned its portfolio according to the source. 2 0 obj Bank was brought up in New York, USA, and her ethnicity is American. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? Sign up to get ProPublicas biggest stories delivered straight to your inbox. The Jews cant keep getting away with this. Others sent similarly profane and racist text messages to me., Wrapping up his prepared statement, Plotkin said he was personally humbled by the Reddit short squeeze and Melvin Capitals losses. endobj 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. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. SAC was fully shuttered in 2016. Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. 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. 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. Family foundations . 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. 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. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. Sign up to get ProPublicas biggest stories delivered straight to your inbox. From https://projects.propublica.org/nonprofits. Two surged around 50 percent through January 27, while three others rose at least 20 percent over the same period. Gabriel started the venture the board firm in 2014 in New York. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive This organization has not provided GuideStar with a mission statement. Location 345 Park Ave New York City, NY 10154-0004 United States. She is a native New Yorker. He graduated from Northwestern University with an Economics degree in 2001. 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.". Friends, Gabriel Plotkinis an American businessman and entrepreneur who founded Melvin Capital Management LP. These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. Melvin Capital Management Founder and Chief Investment Officer Joins Our projects result in quantifiable . Melvin Capital head, a Hornets owner, battered in stock swing 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. Submit a correction suggestion and help us fix it! BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. Gabriel was on in Portland, Maine and this is where he grew up. The couple married in 2006 and are still together. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. These audits are copied from the Federal Audit Clearinghouse. May 2016 - Jan 20192 years 9 months. ET The net worth of Gabriel Plotkin reportedly took a. Testimony of Gabriel Plotkin, founder of Melvin Capital Management These audits are copied from the Federal Audit Clearinghouse. The Foundation is supported by Plotkin Family 2016 Grantor Clat. endobj SAC was fully shuttered in 2016. WallStreetBets has a reputation for being rude and rude. Revenue and expense data is not available for this organization. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. He raised nearly $1 billion. Please share any feedback you have about Foundation Directory Online. But this is a rumor, and there is no confirmation about it. We have a lot of analysts, we require a lot out of them. The total assets subtleties and the subtleties of Yaara Bank-Plotkins compensation and profit are kept hidden. (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) 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. Extracted financial data is not available for this tax period, but Form 990 documents are available for download.