Gabe Plotkin Net Worth

Gabriel Gabe Plotkin is an American hedge account manager who has a net value of $400 million. Gabe is best-recognized for being the creator of Melvin Capital Management which had a public spat through a community of redditors in 2021 over the firm GameStop.

SAC Capital: At SAC Capital he accomplished a fund of customer stocks worth $1.3 billion. As said by federal prosecutors, at several points through his time at SAC Capital Gabriel was the receiver of insider info. In court filings, Plotkin was the supposed “Portfolio Manager B” and supposedly was accelerated by a number of emails from a fellow portfolio director that the SEC measured inside info.

Melvin Capital: In the wake up of the collapse of SAC, in 2014 Gabe Plotkin created Melvin Capital Management. The firm, which is called after Gabe’s grandfather, rapidly raised $1 billion in capital.

Gabe Plotkin

By 2018 the fund’s properties under managing had ballooned to $3.5 billion.

The firm concluded 2020 with $12.5 billion underneath management.

GameStop: In initial 2021, associates of the subreddit r/wallstreetbets constructed a groundswell of blame aimed at fund directors like Plotkin who bellicosely “shorted” the stock of struggling firms.

Gabe Plotkin Melvin Capital supposedly lost 30% of its fund worth very fast thanks to its huge short position in GameStop. The fatalities were so big that Melvin reportedly had to appeal a $2.75 billion capital injection from Point72 plus Citadel in exchange for the privileges to a portion of the fund’s upcoming revenues.

Personal Life plus Real Estate: In November 2020, Gabe Plotkin paid an entire of $44 million for two neighboring homes in North Bay Road in Miami, Florida. He filed strategies with the city which displayed plans to raze one of the possessions and substitute with a tennis court and parks. He also possesses property in New York City.