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. "Gabe Plotkin and team have delivered exceptional results over the history of Melvin. Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Join Facebook to connect with Gabriel Plotkin and others you may know. (BMF affiliation code: 3). This organization has not provided GuideStar with a mission statement. Gabriel Plotkin has a rich personal life as well as a busy career. The couple was living a happy married life till 2018. Although Plotkins hedge fund recently took a terrible hit, sources confirm that hes still got his head above water. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. It covered its short position on the stock, but the precise amount that Melvin Capital lost in the deal has not fully been disclosed. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Submit a correction suggestion and help us fix it! endobj Increase Website Performance with Cumulative Layout Shift (CLS), Largest Contentful Paint (LCP) and Total Blocking Time (TBT). Melvin Capital: In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. At the last update at the end of January, Plotkins hedge fund was down by 53 percent. He also owns property in New York City. Gabe Plotkin Shutters Melvin Capital After GameStop Disaster Gabriel Plotkin Melvin capital worth, Wife, Age, on Gabriel Plotkin Melvin capital worth, Wife, Age. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Culture & Community methodology because we have not received data from the charity regarding its Constituent Feedback or Equity Practices strategies.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. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. Public, Society Benefit - Multipurpose and Other N.E.C. Cabe Plotkin raised almost a billion dollars for the fund. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. Total assets. In 2017, its first full year in operation, Melvin generated a 47% return on assets, which made it the second-best performing hedge fund in the world (among hedge funds with more than $1 billion in assets under management). Gabriel Martinelli has been in excellent form for Arsenal this season with the Brazilian key to the Gunners' Premier League title challenge. He graduated from Northwestern University with an Economics degree in 2001. BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. Sign up to get ProPublicas biggest stories delivered straight to your inbox. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. Yaara had petitioned for the separation, and the explanation was hopeless contrasts between the two. Others have sent me equally profane and racist texts. Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. They are associated with the Chabad Israel Center. And while I do not think that anyone could have anticipated these events, I have learned much from them, and I am taking steps to protect our investors from anything like this happening in the future.. Save my name, email, and website in this browser for the next time I comment. endobj According to Wikipedia, Gabriel Plotkin is a college graduate. Our projects result in quantifiable . This organization is required to file an IRS Form 990-PF. Gabriel and Yaara Plotkin Family Foundation - Charity Navigator The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. <>/Metadata 97 0 R/ViewerPreferences 98 0 R>>
2020. Gabriel was on in Portland, Maine and this is where he grew up. Click here to resend it.). He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. to get more GuideStar Nonprofit Profile data today! He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. Gabriel and Yaara Plotkin Family Foundation. And what they have learned has lessons for understanding where generative AI models may go. No wonder he told a congressional committee the experience humbled him. In court filings, Plotkin was the so-called Portfolio Manager B and reportedly was forwarded a number of emails from a fellow portfolio manager that the SEC considered inside information. (Don't see an email in your inbox? 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. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. But this is a rumor, and there is no confirmation about it. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. Gabe received his bachelor's degree in economics from Northwestern University. What's Gabe Plotkin's Net Worth as Melvin Capital Shutters? On January 27 Bloomberg News reported that losses had continued past the 30% reported on January 24 by the WSJ although their sources would not give a specific number as to not upset CIO Gabe Plotkin. I named Melvin after my grandfather, who ran a convenience store. Gabriel and Yaara got hitched in the year 2006. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . She is a native New Yorker. How Gabe Plotkin (Gamestop & Melvin Capital) Lost Billions Your donation attempt encountered a problem. Plotkin is still reported to have a net worth of about $300 million, which qualifies him as a very rich man. The acquisition valued the Hornets at $1.5 billion. Billionaire Gabriel Plotkin Buys the Dip in These 2 Stocks - Yahoo Finance Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. The fund is led by Founder & CIO Gabriel Gabe Plotkin. Gabriel Plotkin Melvin capital worth Wife Age. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. Gabe's company was worth $12.5 billion before suffering a huge loss. 2020. Yaaras Twitter bio isnt accessible as she isnt dynamic on any online media stages, for example, Instagram, Twitter, Facebook, and TikTok. The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. about GuideStar Pro. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. By Svea Herbst-Bayliss. Buried in Reddit, the Seeds of Melvin Capital's Crisis He was called Portfolio Manager B in the scandal. Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923, Total Revenue and Expenses - No Data Available, Salary of Key Persons - No Data Available, IRS Published Data (Business Master File) - Data Available, Data Sources (IRS Forms 990) - Data Available, How to Donate Food and Prevent Food Waste. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Gabriel and Yaara Plotkin Family Foundation | New York, NY | Cause IQ Please share any feedback you have about Foundation Directory Online. You will not find Mr. Plotkin on social media. . Gabriel Plotkin Biography& Net Worth - TheMediaMunk They have a son named Eytan Shmerel. Plotkin Name Meaning & Plotkin Family History at Ancestry.com Gabriel and YAARA Plotkin Family Foundation - GuideStar Profile covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. 10 Things You Didn't Know About Gabriel Plotkin - Money Inc According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Need the ability to download nonprofit data and more advanced search options? Three of them surged in price through late January. The Foundation is supported by Plotkin Family 2016 Grantor Clat. Subsequent to the GameStop short squeeze event, Melvin Capital disclosed that it is the target of at least nine lawsuits relating to its behavior during that period. I wanted the firm to represent his valuesintegrity, hard work, taking care of customers and employees, and commitment to excellence, he added. 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. The Plotkin family name was found in the USA, and Canada between 1911 and 1920. Why is it so hard to define, let alone understand. Both are natives of the East Coast. Total expenses. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. By 2018 the fund's assets under management had ballooned to $3.5 billion. If the problem persists contact us. Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital's $44 ynfx9/EYQ 7dM2gcAs~/cojcbD? Gabe Plotkins Melvin Capital Management late Wednesday provided new insight into negative positions the firm held at year-end that may have contributed to its stunning 53 percent loss in January. Melvin Capital founder Gabe Plotkin made the disturbing statement in prepared testimony he plans to deliver at Thursdays House Financial Services Committee hearing on the recent populist revolution in the stock market. Already have a GuideStar Account? Tradewater. The Foundation supports Chabad Israel Center and made 11 grants last year. Please check your inbox in order to proceed. If this organization has filed an amended return, it may not be reflected in the data below. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION - ProPublica All Rights Reserved. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10019 EIN: 46-4942784 This organization is not listed in the IRS's most recent list of tax exempt organizations, but we have data. Total revenues. to try again. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Gabe Plotkin's Net Worth: How His Hedge Fund Strategy Led to Massive These included GameStop, AMC Networks, Cryoport, First Majestic Silver, GSX Techedu, and Simon Property Group. GameStop: In early 2021, members of the subreddit r/wallstreetbets built a groundswell of criticism aimed at fund managers like Plotkin who aggressively shorted the stock of struggling companies. Gabriel and YAARA Plotkin Family Foundation. In December 2020 Plotkin purchased 2 adjacent houses in Florida for $44 million. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. He is Jewish. July 28, 2021 He raised nearly $1 billion. There are no subtleties present about Yaara Bank-Plotkins youngsters. How Soccer Agents Gabriele And Valerio Giuffrida Tackle The Transfer Markets Financial Challenges, Why Its Difficult To Predict Where GPT And Other Generative AI Might Take Us, Sunday Conversation: Aly & AJ On New Music, Favorite Los Angeles Spots, Peter Gabriel and Their Creative Renaissance. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. The common stock of Ligand Pharmaceuticals, Melvins second-largest put position among this new group, nearly doubled for the month through January 28. Check back later to see if this organization has a rating history! $400 Million. Be that as it may, her significant other, Gabriel Plotkins total assets is $300 million, reports Forbes. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. Gabriel Plotkin - Forbes This shows that Mr. Plotkin has a strong sense of his Jewish roots and loyalty to the people who live in his local community as well as for his ancestral ties to Israel. Organizations making less than $50,000 dont have to file either form but do have to let the IRS theyre still in business via a Form 990N "e-Postcard.". Melvin Capital Founder Gabriel Plotkin Reportedly Lost $460 Million in Short Squeeze By Dan Clarendon Feb. 23 2021, Published 10:59 a.m. He still manages assets of around $12.5 billion through Melvin Capital. Facebook gives people the power. With WallStreetBets' Triumph, Wall Street Warns of Contagion Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Gabriel started the venture the board firm in 2014 in New York. Please refresh the page 9. In its initial 13F filing covering the fourth quarter and publicly disclosed in mid-February, Melvin had listed eight stocks for which it held put options.Gabriel Plotkin. She is a native New Yorker. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. We recognize that not all metrics and beacons equally predict a charitys success. Privacy Policy 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. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. He had previously been one of the most prominent. CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. [28]Allegations include Melvins participation in a conspiracy against retail investors, and also that Melvin made misstatements about their role in the conspiracy to the public. Melvin contends that these lawsuits are without merit., Yaara Bank-Plotkin is the spouse of Melvin Capital, originator, and Chief Investment Officer, Gabriel Plotkin. Celebrity Net Worth reports Plotkins net worth is $400 million, suggesting a change in fortune for a man who enjoyed $850 million in earnings last year. Both are natives of the East Coast. The net worth of Gabriel Plotkin reportedly took a beating earlier in January as Reddit users took aim as his Melvin Capital Management in a headline-making short squeeze of GameStop stock (NYSE: GME). Location 345 Park Ave New York City, NY 10154-0004 United States. 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. The most well-known incident involving Gabe was the founding of Melvin Capital Management, which engaged in a public argument with a group of Reddit users in 2021 over the firm GameStop. GABRIEL PLOTKIN - FOUNDER & CIO, Tallwoods CAPITAL Children of Fallen Patriots Board of Advisors, Advisor Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firm's Chief Investment Officer. Taxable trusts and private foundations that are required to file a form 990PF are also included. 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. Duplicated download links may be due to resubmissions or amendments to an organization's original return. 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. Copyright 2021 Pro Publica Inc. David Plotkin Obituary (2012) - Los Angeles, CA - Legacy.com 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. In 1920 there were 60 Plotkin families living in New York. Melvin became a prime target for newbie traders on Reddits WallStreetBets forum because he had taken a short position on GameStop, meaning he was betting the struggling video game retailers share price was going to lower. Best Items to Donate to an Animal Shelter, Donors Prefer Charities that Earn All Four Beacons, Learn more about the BMF on the IRS website, Click here to search for this organization's Forms 990 on the IRS website. If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. Plotkin founded Tallwoods Capital LLC in 2022 and serves as the firms Chief Investment Officer. Gabriel Plotkin, formerly a top trader for Steve Cohen's Point72, put out his own shingle in 2014, opening Melvin Capital with $1 billion in seed money . Two bright young jazz singers, Gabrielle Cavassa and Sage Bava, meet to discuss being a jazz singer in 2023 and what the music means to them. SAC's founder, Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Fast-track your prospect research with a Professional plan subscription. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. The short position adopted by Melvin Capital and others resulted in more than 139% percent of existing shares of GME being shorted, making GameStop stock the most shorted equity in the world. He has a generous heart when it comes to helping those who are in need. Why Aren't Donated Clothes Always Given Away for Free? The people, governance practices, and partners that make the organization tick. She is a native New Yorker. <>
He was married to the love of his life, Polly, for over 60 years, until her death August 2010. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Melvin Capital head, a Hornets owner, battered in stock swing . These audits are copied from the Federal Audit Clearinghouse. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. Plotkin founded Melvin Capital in 2014. [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. Hedge Fund Manager. This was about 32% of all the recorded Plotkin's in USA. In 2017, it's first full year in operation, Melvin generated a 47% return on assets, which made it the second-best performing hedge fund in the world (among hedge funds with more than $1 billion in assets under management). 9. endobj Mr. Plotkin is married to Yaara Bank-Plotkin. Organizations making less than $50,000 dont have to file either form but do have to let the IRS theyre still in business via a Form 990N "e-Postcard.". If you have used our data or site in your research or reporting, add credit and a link to Nonprofit Explorer in your story or publication and let us know. Gregory Plotkin - Wikipedia Who Paid The Largest Individual Tax Bill Of All Time? . By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. 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. Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. It is now our job to earn it back, he said. After he graduated from Northwestern, Gabriel accepted a job at SAC Capital. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. 2023 Children of Fallen Patriots Foundation. In 2017, the fund finished up 41%. The posts said things like, Its very clear we need a second Holocaust. Gabriel Plotkin - Melvin Capital Management - Insider Monkey The mission of Children of Fallen Patriots. This data release includes only a subset of what can be found in the full Form 990s. Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. Gabriel Plotkin, CEO of Melvin Capital Management, testifies before Congress (YouTube snapshot) Melvin Capital, the hedge fund belonging to Gabe Plotkin, is shutting down . 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.
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