On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. In the early part of 2021, Melvin Capital experienced a loss of more than 30 percent because of short betting. According to Chabdic, Mr. Plotfin and his wife both Yaara are both passionate about the land of Israel. In 2013 SAC pleaded guilty and agreed to pay $1.2 billion in penalties plus $616 million paid to the SEC. 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. In November 2020, Gabe paid a total of $44 million for two adjacent homes in North Bay Road in Miami, Florida. GameStop was just one of the shorts that went south on the company. Gabeis 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. 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. 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. In any case, shares of ViacomCBS, Melvins largest put position among the newly revealed eight, rose roughly 50 percent for the month through January 27. 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.. And he told the committee that when Reddit users targeted Melvins short positions, some shared offensive posts. Duplicated download links may be due to resubmissions or amendments to an organization's original return. Chicago. From https://projects.propublica.org/nonprofits. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. This data is only available if this charity has at least one year of electronically-filed Form 990 data filed within the last six years. x\[oH~Bl^,>&%q#,LlYlR.<9b5IVyqr#%c.gx/|+;\Yg;n60-kx[_w8bw O';Xl^W)q&b'2iu];s}7vX76G18:6;G_>#v>;.o8~}~^#;T/3sgxq_U'',LV}AVu_Yptr$;y|jS%ncxN{-y/NGFHjp8Ujx3gqKg ,aNuc79Dch#1) And how will we know when we see it? Gabriel and YAARA Plotkin Family Foundation lock Unlock financial insights by subscribing to our monthly plan. It wasnt long before the fun operated with over a billion in assets under its management. All Rights Reserved. He was married to the love of his life, Polly, for over 60 years, until her death August 2010. Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. Please share any feedback you have about Foundation Directory Online. The couple married in 2006 and are still together. Numerous searches have not turned up any official social media accounts that are accessible by the public. 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. The organizations present valuation is $8 billion, reports Daily Mail. Why is it so difficult to predict events and consequences too far into the future? Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. 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. These times of financial uncertainty require soccer agents to have a clear picture of each club's spending power. 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 married Yaara Bank in 2006 and the couple has two kids, a son, and a daughter. He also worked for a Connecticut-based hedge fund called North Sound Capital and SAC Capital. SACs founder,Steven A. Cohen, proceeded to return all outside capital and established a family office instead, which he called Point72 Asset Management. Granted, Melvin went through a rough patch, but weve always had an excess margin, and we werent looking for an injection of cash, he said. Gabriel And Yaara Plotkin Family Foundation - Nonprofit Explorer - ProPublica Research Tax-Exempt Organizations GABRIEL AND YAARA PLOTKIN FAMILY FOUNDATION NEW YORK, NY 10017-0000 |. 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. Published. At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. f K6(@?rnPqi=+U$f%rlb9rX?Na_]}Yxi[#5NYc6yEXs[v#8%(D>H1-&-3up4V}K!J%n If it is your nonprofit, add geographic service areas to create a map on your profile. View the profiles of people named Gabriel Plotkin. ProPublica posts new tax forms as they are released by the IRS. If you try to look him up on Twitter or Instagram, you might find people with the same name, but it wont be him. He had previously been one of the most prominent. Plotkin founded Melvin Capital in 2014. Mr. Plotkin is married to Yaara Bank-Plotkin. Fearless Fund invests $1.34 million into Bitsys, the mom-owned clean food and beverage brand co-founded by actress and activist Gabrielle Union. How old is Yaara Bank-Plotkin? Founder and CEO of Melvin Capital (from 2014-2022) Net worth: $400 million (estimated) Before Melvin Capital, Plotkin worked at SAC Capital under Steve Cohen. Gabe has been married to Yara Bank-Plotkin since 2006. 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. 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. <> (Melvin's Gabriel Plotkin had come out of SAC Capital, which pled guilty to insider trading in 2013.) By Svea Herbst-Bayliss. Your email address will not be published. Mr. Plotkin is married to Yaara Bank-Plotkin. From https://projects.propublica.org/nonprofits. 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.". He raised nearly $1 billion. The redditers paid particular attention to the short sales of video game rental company GameStop, which was the most-shorted stock on American exchanges. 2020. The most Plotkin families were found in USA in 1920. Updated Feb 18, 2021 at 5:13 PM. While his coworker was arrested and charged with the crime, Plotkin was not, however, it was alleged that he forwarded multiple emails that contained the illegal information. Gabriel Plotkins net worth reportedly tumbled in January 2021 as Reddit users targeted his Melvin Capital Management in a GameStop short squeeze. Meanwhile, shares of Ollies Bargain Outlet Holdings, another negative bet, rose about 30 percent through January 27. endobj Melvin Capital CEO Gabriel Plotkin said hes gotten racist and profane texts from Redditors. Revenue and expense data is not available for this organization. Terms of Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. He was raised in a Jewish household, but not much more about his personal beliefs are known. He has a generous heart when it comes to helping those who are in need. Northwestern UniversityAfter graduating from Northwestern University with a degree in Economics in 2001,Gabriel Plotkinjoined Ken Griffins hedge fund Citadel LLC, and later Connecticut-based hedge fund North Sound Capital. If you wish to donate, please refresh the page. to try again. Try our monthly plan today. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. The posts said things like, Its very clear we need a second Holocaust. 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. Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop. Simply enter the organization's name (Gabriel and Yaara Plotkin Family Foundation) or EIN (464294852) in the 'Search Term' field. 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. This data release includes only a subset of what can be found in the full Form 990s. He enrolled in courses at Northwestern University. The subreddit users of WallStreetBets took the long position on the stock and rumors of bankruptcy began to circulate. American hedge fund manager Gabriel "Gabe" Plotkin has a $400 million fortune. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Total revenues. $1,513,822. Bank was brought up in New York, USA, and her ethnicity is American. Copyright 2021 Pro Publica Inc. The firm, which is named after Gabe's grandfather, quickly raised $1 billion in capital. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. 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's company was worth $12.5 billion before suffering a huge loss. Tradewater. [30] Plotkin purchased a minority interest in the Charlotte Hornets in 2019 from Michael Jordan. Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. May 19, 2022. But this is a rumor, and there is no confirmation about it. Gabriel and Yaara Plotkin Family Foundation. And what they have learned has lessons for understanding where generative AI models may go. He started his career under Ken . The Form 990 is a document that nonprofit organizations file with the IRS annually. The hedge fund is getting a boost from Citadel LLC and Point72 Asset Management, however. Location 345 Park Ave New York City, NY 10154-0004 United States. From January 2 to January 28, one of the eight stocks Melvin had betted against nearly doubled in price. 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. Taxable trusts and private foundations that are required to file a form 990PF are also included. Yaara had petitioned for the separation, and the explanation was hopeless contrasts between the two. Facebook gives people the power. The couple married in 2006 and are still together. 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. He covered the shorts and is continuing to move forward in his business despite the loss. We have a lot of analysts, we require a lot out of them. Its users frequently refer to themselves as latecomers an offensive insult to people with intellectual disabilities and Keith Gill, the Redditor credited with leading the GameStop rally, goes by DeepF-value on the forum. loading and try your donation again. The couple married in 2006 and are still together. 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 was called Portfolio Manager B in the scandal. Plotkins testimony also detailed how the unprecedented surge in the GameStop share price affected him professionally and personally. All Rights Reserved. Gabriel and YAARA Plotkin Family Foundation. The IRS Form 990 is an annual information return that most organizations claiming federal tax-exempt status must file yearly. Gabriel Plotkin runs Melvin Capital Management, a hedge fund firm with $3.5 billion under management. Sign in or create an account to view Form(s) 990 for 2019 and 2018. Has Gabriel Jesus Turned Arsenal Into Premier League Title Contenders? Similar to the push to fund GameStop's stock, the divorce rumor also originated from the internet. At the center of last months GameStop frenzy, the head of the hedge fund said Redditors targeted him with anti-Semitic slurs and text messages. Gabriel was on in Portland, Maine and this is where he grew up. She is a native New Yorker. 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. The Foundation is supported by Plotkin Family 2016 Grantor Clat. 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. This organization has no recorded board members. Click here to resend it.). Service. short selling).Gabriel Plotkin Melvin capital worth Wife Age, In its first full year in operation, Melvin Capital had returns of 47%, ranking it 2nd in Bloombergs 2015 list of top-performing funds with $1 billion or more in assets under management. If you would like us to contact you for follow up, please include your name and e-mail address and we will be in touch. Sign in. The ChatGPT Debate: Are We Intelligent Enough To Understand Intelligence? Why Aren't Donated Clothes Always Given Away for Free? Gabriel Plotkin Melvin capital worth Wife Age. Mr. Plotkin is married to Yaara Bank-Plotkin. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> The firm ended 2020 with $12.5 billion under management. 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. Sign up to get ProPublicas biggest stories delivered straight to your inbox. These audits are copied from the Federal Audit Clearinghouse. Market Realist is a registered trademark. In 1920 there were 60 Plotkin families living in New York. Small organizations filing a Form 990N "e-Postcard" are not included in this data. Melvin Capital founder, Gabriel Plotkin's, testimony before the House Committee on Financial Services regarding the recent GameStop short sell. SAC Capital: At SAC Capital he managed a fund of consumer stocks worth $1.3 billion. Offers may be subject to change without notice. Gabriel Plotkin has a rich personal life as well as a busy career. Last Update. All net worths are calculated using data drawn from public sources. Melvin Capital's Gabriel Plotkin has been in the news quite a bit recently after his hedge fund may have posted a loss in the billions in the stock market shorting GameStop. The company's current valuation is $8 billion, reports Daily Mail . Plotkin founded Melvin Capital in 2014. . He was in charge of managing a portfolio of consumer stocks. Gabe Plotkin Net Worth:GabrielGabePlotkinis an American hedge fund manager who has anet worthof $400 million. We have great confidence in Gabe and his team," Ken Griffin, founder and CEO of Citadel, said in a statement. 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 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 Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020. Cabe Plotkin raised almost a billion dollars for the fund. Give the page a little longer to finish This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly. Gabriel Jesus signed for Arsenal from Manchester City this summer and has made an instant impact for his new club. Sage Bava and I spoke with them about their new album, favorite L.A. spots and more. All rights reserved.Combined Federal Campaign (CFC) #69859 | Fallen Patriots is a 501(c)(3) non-profit organization. During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. 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. Gabe has been married to Yara Bank-Plotkin since 2006. He currently serves as the Chief Investment Officer of the hedge fund that he established. May 2016 - Jan 20192 years 9 months. If this organization has filed an amended return, it may not be reflected in the data below. Plotkin joins Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Reddit co-founder and CEO Steve Huffman and 'Roaring Kitty . ET The net worth of Gabriel Plotkin reportedly took a. Hedge Fund Manager. Need the ability to download nonprofit data and more advanced search options? According to the same WSJ article, Melvin started 2021 with $12.5 billion in assets and ended January with $8 billion which includes the $2.75 billion in capital injected. Contact Information. The losses were so large that Melvin reportedly had to request a $2.75 billion capital injection from Point72 and Citadel in exchange for the rights to a portion of the fund's future revenues. That's a big number, but it is still the lowest such combined earnings figure since the financial crisis. Ratings are calculated from one or more beacon scores. The mission of Children of Fallen Patriots. 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. He still manages assets of around $12.5 billion through Melvin Capital. [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. A lot of these messages were full of anti-Semitic slurs directed at me and others, Plotkin said in his testimony. Gabriel Plotkin sharpened his . 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). He filed plans with the city which showed plans to raze one of the properties and replace with a tennis court and gardens. There were two or three gossipy tidbits about Yaara and Gabriel petitioning for a separation. [18] Users of the subreddit r/WallStreetBets made widespread bets that GameStops stock would increase in value. Melvin dropped the bet not because our investment thesis had changed, but because something unprecedented was happening, Plotkin said. It is known for its short-selling strategies. Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. His compensation after that years performance was $300 million. Key Persons data is currently unavailable for this organization. His compensation after that year's performance was $300 million. Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats. Both are natives of the East Coast. In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. Please check your inbox in order to proceed. Hes still in business and going strong. Want to see how you can enhance your nonprofit research and unlock more insights? By the vibes of her photos, Bank-Plotkin is by all accounts in her late 30s. 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. [1] On May 18, 2022 Plotkin announced that the fund would close and return any remaining customer funds by June 2022. 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. Aly & AJ are one of music's most inspiring success stories, enjoying a creative renaissance in their second act. 5. The Giving Basket is having some issues. Melvin Capital Management LP is an American investment management firm based in New York City. Grant Information Last Updated: They have a son named Eytan Shmerel. A verification email has been sent to you. There are no subtleties present about Yaara Bank-Plotkins youngsters. Yaaras identity and foundation are kept hidden. 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. Fearless Fund Invests $1.34 Million Into Gabrielle Unionss Bitsys, Heron Preston Taps Gabriel Moses In Defining His Language Of Workwear, The Gabrielle Chanel Parfum Is Newly Unveiled, GameStop Short Seller Says Reddit Trolls Targeted Him With Anti-Semitic Harassment, The Highest-Earning Hedge Fund Managers And Traders, Highest-Earning Hedge Fund Managers & Traders 2019, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. proceeded to return all outside capital and established a family office . Rating histories are available for a growing number of rated organizations. He is Jewish. The specific age, date of birth, and zodiac indication of Yaara are absent to people in general yet. We also reduced many other Melvin positions with significant losses both long and short which have been the subject of similar publications.. Family foundations . Gabriel Plotkin has a rich personal life as well as a busy career. They seek to provide assistance to improve the lives of Israels terror victims and wounded soldiers. 4 0 obj Read the IRS instructions for 990 forms. Previously, Plotkin was the CIO and founder of Melvin Capital, an investment management firm that focused on consumer and technology stocks. Read the API documentation . After college he went to work at the hedge fund Citadel LLC. Analyze a variety of pre-calculated financial metrics Access beautifully interactive analysis and comparison tools Sign up to get ProPublicas biggest stories delivered straight to your inbox.

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