Stephen Mandel (hedge fund manager)

Stephen Frank Mandel, Jr (born March 12, 1956) is an American hedge fund manager, investor, and philanthropist. He founded Lone Pine Capital in 1997, after working as the managing director at Tiger Management.[2] According to Forbes Magazine, Mandel has a net worth of $2.6 billion as of October 2018. He is the 316th richest person in the United States.[1]

Stephen Mandel Jr.
Born (1956-03-12) March 12, 1956
CitizenshipUnited States
Alma materDartmouth College
Harvard Business School
Known forFounding and leading Lone Pine Capital
Net worthUS$2.8 billion (October 2018)[1]
Board member ofDartmouth College
Teach for America
Spouse(s)Susan Joy Zadek
Children3
Parent(s)Ann Safford Mandel
Stephen Frank Mandel

Early life and education

Mandel is the son of Ann (née Safford) and Stephen Frank Mandel and grew up in Darien (Connecticut).[3][4] He has a brother, Edward Safford Mandel.[5] In 1974, Mandel graduated from the Phillips Exeter Academy. In 1978, he graduated from Dartmouth College with a Bachelor of Arts in government and was a member of the Psi Upsilon fraternity.[2] He also has an M.B.A. from Harvard University.[6]

Investment career

From 1982 to 1984,[2] he worked at Mars & Co as a senior consultant[7] and then from 1984 to 1990,[2] he worked as a consumer-retail analyst at Goldman Sachs[8] before working as a consumer analyst and eventually managing director at Tiger Management,[2] a hedge fund founded by Julian Robertson. In 1997, he left Tiger and founded his own hedge fund, Lone Pine Capital LLC[6] (named after a Dartmouth College pine tree that survived an 1887 lightning strike).[9]

Forbes listed Stephen Mandel as one of the 40 Highest-Earning hedge fund managers in 2012.[10]

Forbes listed Stephen Mandel as one of the 25 Highest-Earning hedge fund managers in 2013.[11]

In 2018, Forbes listed Mandel as 15th highest-earning hedge fund manager.[1] As of January 2019, Mandel will no longer manage investments for his Lone Pine Capital but will remain a managing director. [9]

Wealth and philanthropy

According to Forbes Magazine, Mandel has a net worth of $2.6 billion as of October 2018.[1]

He was chairman of Dartmouth's board of trustees[12] and is currently Chair of the National Board of Directors at Teach for America.[13] He founded two charitable foundations: the Zoom Foundation and the Lone Pine Foundation.[14] Mendel donated $1 million to the Lincoln Project, an anti-Donald Trump super PAC.[15]

Personal life

In 1982, he married Susan Joy Zadek of Baltimore, whom he met at Harvard.[16][17][18] They have three children.[6] His wife is a trustee of the Environmental Defense Fund and of Vassar College.[19]

References
  1. "Stephen Mandel, Jr". Forbes. Retrieved 2018-10-28.
  2. Dartmouth College website: Board of Trustees
  3. Dartmouth Alumni Magazine: "Stephen Frank Mandel ’52" Jan-Feb 2010
  4. Stamford Advocate: "Stephen Frank Mandel" September 13, 2009
  5. New York Times: "Betsy B. Phillips To Wed in May" January 18, 1987
  6. Forbes: The World's Billionaires: Stephen Mandel Jr. March 2013
  7. "Steve Mandel Profile," GuruFocus.com
  8. "Cult of Personalities," Institutional Investor Alpha, October 2008
  9. Forbes: The World's Billionaires - Stephen Mandel Jr March 2008
  10. Vardi, Nathan (Feb 26, 2013), "The 40 Highest-Earning Hedge Fund Managers & Traders", Forbes
  11. Vardi, Nathan (Feb 26, 2014), "The 25 Highest-Earning Hedge Fund Managers And Traders", Forbes
  12. "Lone Pines' Stephen Mandel elected chairman of Dartmouth's board," Absolute Return, May 1, 2010
  13. "National Board of Directors". Teach for America.
  14. Institutional Investor: "Hedge Fund Giving Wanes" by Danielle Beurteaux March 19, 2009
  15. "Six More Billionaires Donate To The Anti-Trump Lincoln Project". July 15, 2020.
  16. Dartmouth Now newsletter: "‘Visible and Accessible’: Chair Steve Mandel ’78 on Priorities for the Board" By Sarah Memi Archived 2011-09-20 at the Wayback Machine November 29, 2010
  17. New York Times: "Susan Zadek To Be Bride" March 21, 1982
  18. New York Times: "Sea, Sand, Faith: Far From Home but Closer to Heaven" By NEELA BANERJEE August 20, 2009
  19. New York Times: "Kate Mandel, Christopher Bruce" September 27, 2015
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