What exactly is (natural or artificial) intelligence? Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. Plotkin founded Melvin Capital in 2014. View the profiles of people named Gabriel Plotkin. Total revenues. 9. If this organization has filed an amended return, it may not be reflected in the data below. The acquisition valued the Hornets at $1.5 billion. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. Check back later to see if this organization has a rating history! 4 0 obj While Reddit users encouraged each other to negotiate in the opposite direction of Melvins investments, they also took personal attacks on Plotkin, he said. Gabriel Plotkin Profiles | Facebook The couple married in 2006 and are still together. Plotkin discussed the GameStop drama before the U.S. House of Representatives Committee of Finance Services on Thursday, Feb. 18. Chanel has created a fragrance that imbibes and represents the houses founder Gabrielle Chanel. 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.. There were two or three gossipy tidbits about Yaara and Gabriel petitioning for a separation. Copyright. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Melvin Capital which Plotkin named after his grandfather closed its short position on GameStop at a loss in the last week of January as its stock price climbed to a high of $ 483 per share. The rumors of bankruptcy were found to be untrue. 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. 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. It is now our job to earn it back, he said. Learn more Personal Life and Real Estate:In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. Gabe Plotkin is the CIO of Melvin Capital. We recognize that not all metrics and beacons equally predict a charitys success. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on The Foundation supports Chabad Israel Center and made 11 grants last year. . Gabriel Plotkin - Forbes Hedge Fund Manager. It covered its short position on the stock, but the precise amount that Melvin Capital lost in the deal has not fully been disclosed. Save my name, email, and website in this browser for the next time I comment. Gabe has been married to Yara Bank-Plotkin since 2006. Gabriel Plotkin Net Worth: Info on Melvin Capital Founder's Fortune Privacy |Financials |Contact Us| Careers| Accessibility Statement, MissionHistoryBoardStaffFinancialsAnnual ReportFAQ, Family SupportPartner SchoolsSuccess StoriesFAQs for FamiliesEnroll a StudentScholar Resources. These audits are copied from the Federal Audit Clearinghouse. 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. Subscribe Unlock nonprofit financial insights that will help you make more informed decisions. Gabriel Plotkin has a rich personal life as well as a busy career. Want to see how you can enhance your nonprofit research and unlock more insights? That's a big number, but it is still the lowest such combined earnings figure since the financial crisis. Melvin Capital: In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. Issue #1 of 'Phantom Raoad' goes on sale Wednesday, March 1. He had previously been one of the most prominent traders at Steve Cohens SAC Capital hedge fund. One can peruse Yaara Bank-Plotkins profile in two or three Wiki-bio pages. f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. He started his career under Ken . Be that as it may, her significant other, Gabriel Plotkins total assets is $300 million, reports Forbes. SAC was fully shuttered in 2016. There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. From https://projects.propublica.org/nonprofits. 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. Your email address will not be published. Sign in or create an account to view Form(s) 990 for 2019 and 2018. Small organizations filing a Form 990N "e-Postcard" are not included in this data. Yaara Bank-Plotkin is the spouse of Gabriel or Gabe Plotkin. Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. All Rights Reserved. Gabriel and Yaara Plotkin Family Foundation. 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. We welcome all corrections and feedback using the button below. 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. This organization is not listed in the IRS's most recent. Gabriel and Yaara got hitched in the year 2006. Gabe and Yaara also have two beautiful kids, a son, and a daughter. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Public, Society Benefit - Multipurpose and Other N.E.C. by Bana Miller. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. He is survived by his children Danny (Gretchen), Gary (Helene) and Nancy (Bob) and his beloved. After Melvin Capital faced a huge loss, there are rumors that Yarra filed a divorce from her husband, Gabe. Tradewater creates, develops, and implements high value projects that reduce greenhouse gas emissions. Fast-track your prospect research with a Professional plan subscription. In September 2020 the name of the company showed up in the Polish Short Sale Registry (Rejestr Krtkiej Sprzeday) because of a short position in-game developers CD Projekt, a net position of 0.55 percent through the Polish stock exchange (GPW). Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. Try our monthly plan today. Melvin Capital reportedly lost 30% of its fund value very quickly thanks to its massive short position in GameStop. He has received a great deal of attention in the recent wake of the GameStop investment debacle that resulted in billions of dollars in debt for hedgers shorting the stock. $5,131,925. 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. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Who is Gabe Plotkin's wife? Everything you need to know Learn more about the BMF on the IRS website, Private non-operating foundation (BMF foundation code: 04), Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). He graduated from Northwestern University with an Economics degree in 2001. Yaara Bank-Plotkin And Gabriel Plotkin Divorce: Family Facts To Know He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. Taxable trusts and private foundations that are required to file a form 990PF are also included. Our projects result in quantifiable . [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Melvin Capital lost 53% on its investments in January 2021 alone. Despite the turmoil, Plotkin insisted that the $ 2.75 billion investment Melvin secured from Ken Griffins Citadel and Steve Cohens Point72 in late January was not intended to bail out the fund because it was grappling with heavy casualties. Already have a GuideStar Account? Why is it so hard to define, let alone understand. Give the page a little longer to finish 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. He has literally no presence on social media on any of the platforms. It is known for its short-selling strategies. a fashion brand that offers the best styling experience of the latest fashion trends, Shop Fashion Clothing For Women's. 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. 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). CNBCs Andrew Ross Sorkin reported that fund manager Gabriel Plotkin advised Melvin Capital had closed (i.e. Both are natives of the East Coast. Mr. Plotkin is married to Yaara Bank-Plotkin. Gabes organization was valued at $12.5 billion preceding enduring a tremendous misfortune. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . He covered the shorts and is continuing to move forward in his business despite the loss. Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. EIN 46-4942784 . Gabriel and Yaara Plotkin Family Foundation cannot currently be evaluated by our Accountability & Finance methodology because it files Form 990-PF, as required of Private Foundations. After college he went to work at the hedge fund Citadel LLC. 9. In the wake of the implosion of SAC, in 2014 Gabe Plotkin founded Melvin Capital Management. From https://projects.propublica.org/nonprofits. If the problem persists contact us. And what they have learned has lessons for understanding where generative AI models may go. Notwithstanding, neither Yaara Bank-Plotkin nor Gabriel Plotkin has affirmed or denied the gossip about their separation. Access lists of funders based on detailed search criteria and other features such as: Copyright 2023 Candid. See the list , The data powering this website is available programmatically, via an API. July 28, 2021 Yaaras identity and foundation are kept hidden. BERDON LLP 360 MADISON AVENUEMiami Beach FL 10017-0000, Miami BeachFL | IRS ruling year: 2014 | EIN: 46-4294852. Terms of But Reddit CEO Steve Huffman defended WallStreetBets in his prepared testimony, saying the 9.1 million-member message board is an online community with significant depth.. Learn More Gabe Plotkin Net Worth | Celebrity Net Worth loading and try your donation again. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. The couple engages in some of their favorite activities with their son including sporting events and petting zoos, like any other family, but they feel a strong sense of community and they are dedicated to doing what they can to support the Jewish Community through their efforts in a partnership with Chabad. Gabriel Plotkin, CEO of Melvin Capital Management, testifies before Congress (YouTube snapshot) Melvin Capital, the hedge fund belonging to Gabe Plotkin, is shutting down . But The Real Deal reports that Plotkin is forging ahead on the renovation of the two Miami Beach, Fla., properties that he bought in 2020 for $44 million, with his attorney going before the Miami Beach Design Review Board to discuss the Melvin Capital founders plans to demolish one of the two properties to make room for a 1,316-square-foot cabana, a playground, and amenity courts. This organization has not yet reported any program information. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. He was in charge of managing a portfolio of consumer stocks. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. 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. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. 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. 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. At the end of Q1 2021, Melvin reported losses of 49%. 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. Tradewater. The acquisition valued the Hornets at $1.5 billion. CinemaCon 2023 | Sony revela primeiras cenas de 'Dumb Money' com Paul Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. In the hedging end of the financial industry, fortunes are made and lost with frequency. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. Profile Last Updated: Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. People may receive compensation for some links to products and services on this website. He also said that the fund has an intense focus on the short side (i.e. 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 . She is a native New Yorker. 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. Yaara Bank-Plotkin is the wife of Gabriel or Gabe Plotkin. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. Click here to resend it.). <>stream Small organizations filing a Form 990N "e-Postcard" are not included in this data. Six of those eight companies common stocks surged in price in January. Toward the end of 2014, Plotkin left SAC to establish his own company. 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. Why is it so difficult to predict events and consequences too far into the future? Melvin Capital Management LP is an American investment management firm based in New York City. In February, Melvin posted a 22% gain; even with this addition, Melvin will need to produce an additional 75% gain for earlier clients before they break even. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. 2 0 obj 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. 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. Duplicated download links may be due to resubmissions or amendments to an organization's original return. He began his profession as a portfolio administrator at SAC Capital and worked at North Sound Capital.. Testimony of Gabriel Plotkin, Founder and Chief Investment Officer, Melvin Capital Management Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, I would like . Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. The organizations present valuation is $8 billion, reports Daily Mail. We learned from WikiProject Topics some facts about Gabriel Plotkins early years. 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. You've probably heard what went. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. <>/Metadata 97 0 R/ViewerPreferences 98 0 R>> He enrolled in courses at Northwestern University. This was not long after the legal trouble and allegations of wrongdoing by the SEC. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. 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. Gabe has been married to Yara Bank-Plotkin since 2006. Copyright 2023 Market Realist. * Officer compensation may be included in charitable disbursements, so values may add up to greater than 100%. The specific age, date of birth, and zodiac indication of Yaara are absent to people in general yet. 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. 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. According to federal prosecutors, at some point during his time at SAC Capital Gabriel was the recipient of insider information. Privacy Policy They are associated with the Chabad Israel Center. Both are natives of the East Coast. Plotkin, the founder, and CIO of Melvin is a former trader and consumer stock specialist at Sigma Capital Management, then a division of SAC Capital, where he spent eight years. endobj Sign in. How old is Yaara Bank-Plotkin? 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. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. New York had the highest population of Plotkin families in 1920. The Gabriel and Yaara Plotkin Family Foundation is a private foundation located in New York, NY. 2020. The messages said things like its very clear that we need a second holocaust, the Jews cant continue to get away with this. In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. GameStop was just one of the shorts that went south on the company. His compensation after that years performance was $300 million. Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. Currently, we require either an Accountability & Finance beacon or an Impact & Results beacon to be eligible for a Charity Navigator rating. Tallwoods Capital is a Miami Beach-based family office that focuses on long-term investments. He is Jewish. Officers, directors, trustees, and key employees, Analyze a variety of pre-calculated financial metrics, Access beautifully interactive analysis and comparison tools, Compare nonprofit financials to similar organizations, Revenue and expense data for the current fiscal year, CEO, Board Chair, and Board of Directors information, *with the ability to download the data for 2019, 2018. 3 0 obj There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. You will not find Mr. Plotkin on social media. proceeded to return all outside capital and established a family office . A former SAC Capital star trader, Gabriel Plotkin started his own fund at the end of 2014, called Melvin Capital Management, named after Plotkin's late grandfather. The firm, which is named after Gabes grandfather, quickly raised $1 billion in capital. Melvin Capital Management founder Gabe Plotkin, a major short-seller of GameStop, is proposing to knock down one of the Miami Beach homes he purchased last year and expand his waterfront. Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. 10 Things You Didn't Know About Gabriel Plotkin - Money Inc Gabriel Plotkin is an American businessman and entrepreneur who founded Melvin Capital Management LP. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. In 2017, the fund finished up 41%. Need the ability to download nonprofit data and more advanced search options? By Svea Herbst-Bayliss. Gregory Plotkin is an American film editor and director, known for his work in horror films, including Get Out (2017), Happy Death Day (2017), Game Night (2018), and several films within the Paranormal Activity franchise. Register now. Two other firms invested . According to Bloomberg, during 2020 Plotkin earned over $800 million in compensation. (Don't see an email in your inbox? Plotkin was allegedly forwarded several emails by Steinberg and others that contained insider information. Grant Information Last Updated: Numerous searches have not turned up any official social media accounts that are accessible by the public. He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. Read the IRS instructions for 990 forms. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. 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. ET The net worth of Gabriel Plotkin reportedly took a. 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. Plotkin founded Melvin Capital in 2014. He still manages assets of around $12.5 billion through Melvin Capital. Read the API documentation . This was a serious crime. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. Melvin did not return a call seeking comment. endobj Rating histories are available for a growing number of rated organizations. to try again. They have a son named Eytan Shmerel. GABRIEL PLOTKIN Children of Fallen Patriots The firm ended 2020 with $12.5 billion under management. In his testimonypublished online by The Washington PostPlotkin admitted that he was far removed from his background growing up in a middle-class family in Portland, Maine, and going to public high school. }p . 02/11/2022. 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. Melvin Capital - Wikipedia He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. Gabriel married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. $1,513,822. Melvin Capital founder, Gabriel Plotkin's, testimony before the House Committee on Financial Services regarding the recent GameStop short sell. He had previously been one of the most prominent traders at Steve Cohen's SAC Capital hedge fund. Your donation attempt encountered a problem. If it is your nonprofit, add a problem overview. Gabriel Plotkin has a rich personal life as well as a busy career. Why Aren't Donated Clothes Always Given Away for Free? In 2015, he made his directorial debut with Paranormal Activity: The Ghost Dimension.