Michael Steinhardt

Michael Steinhardt is an American investor, fundraiser, author and philanthropist. He is best known for his early success in the hedge fund world and the many donations he has made to religious, cultural, and educational causes. With his philanthropy, he has supported educational programs and initiatives at Bar-Ilan University, Princeton University, and Yeshiva University.

Early Life

Michael Steinhardt was born on December 7, 1940 in Brooklyn, New York. Steinhardt grew up in a Jewish family and attended yeshivas that were known for their strict and traditional religious education. After high school, Steinhardt was accepted to the Wharton School of Business at the University of Pennsylvania.

Business Career

Steinhardt described his early business career as "very traditional" and he worked in his father's manufacturing business until 1969. In that year, he shifted focus to the stock market and started his own hedge fund. The fund, named Steinhardt, Fine, Berkowitz & Co., Inc., soon developed a reputation for being able to turn large profits.

His first venture into philanthropy was with the start of the Steinhardt Foundation for Jewish Life in 1998. The foundation works to preserve and strengthen the identity of the Jewish people through culture, religion, and education. In 2006, the foundation's investments totaled over $115 million.

In 2008 Steinhardt started a new venture called Wisdom Tree Investments which invests in dividend-paying stocks from around the world. Over the years Steinhardt has become an advocate for socially conscious investing and has provided venture capital for several green energy companies.

Books

In 2020, Steinhardt published a book entitled No Bull: My Life In and Out of Markets. In the book, Steinhardt discusses some of the triumphs and failures he has experienced in life, both in the business and philanthropic realms. He also offers his insights and views on the current markets.

One of the key themes of the book is to "stay your course". This mutual fund investment mantra also applies to life in general. Through his life story, Steinhardt encourages readers to focus on the long-term and not get distracted by short-term bumps in the road.

Philanthropy

Steinhardt has donated millions of dollars to both Jewish and non-Jewish causes, including the Steinhardt Foundation for Jewish Life and the Michael and John Steinhardt Foundation. He has also funded several education initiatives at Bar-Ilan University and Princeton University. In addition, he has contributed to a variety of Jewish charities, such as UJA-Federation of New York.

Over the years, Steinhardt has been given a number of awards for his philanthropic work, such as the 2017 Jewish National Fund David Ben-Gurion Award and the 2019 Christopher Award.

Conclusion

Michael Steinhardt is an investor, entrepreneur, and philanthropist. After a successful career in finance, he shifted his focus to philanthropy, with his philanthropic work focused on education, culture, and the preservation of the Jewish identity. His autobiography, No Bull: My Life In and Out of Markets, provides insight into his life, his views on markets, and his perspective on success. Through his investments and donations, Michael Steinhardt has had an immense impact on our world.