David Einhorn is one of the world’s best-known investors and as the founder of the hedge fund Greenlight Capital he has had considerable success in the past. He also causes a stir away from the trading floor as a participant in high-paying poker tournaments.
• David Einhorn considered working for an intelligence agency
• Greenlight Capital bets on companies crashing
• Win millions of dollars in poker tournaments
Einhorn almost ended up in the CIA
David Einhorn, born November 20, 1968, grew up in New Jersey and Wisconsin. After graduating from high school in 1987, he decided to study for a bachelor’s degree in government at Cornell University in New York State, graduating summa cum laude in 1991. Einhorn considered working for the CIA, the United States’ foreign intelligence agency, after his studies, but ultimately decided to join the investment bank Donaldson, Lufkin & Jenrette (DLJ), which was taken over by Credit Suisse in 2000 became. After two years he left the company and continued his career at Siegler, Collery & Co as an investment analyst.
Founder of Greenlight Capital
In 1996, David Einhorn founded Greenlight Capital with Jeff Keswin, a colleague of Einhorn’s at Siegler, Collery & Co. The hedge fund started with $900,000 in capital under management and generated above-average returns over many years, primarily through speculation on the collapse of companies. Einhorn made a name for himself as an investor on Wall Street and thus became known to a broader public. Time magazine named David Einhorn one of the 100 most influential people in 2013, and his assessments were considered groundbreaking on Wall Street. For example, people spoke of the “unicorn effect” when a unicorn bet against a company and its share price then collapsed.
After the capital managed by Greenlight Capital grew to more than twelve billion US dollars by 2014, less successful times followed for Greenlight Capital, in particular the years 2015 with a loss of over 20 percent and 2018 with a loss of more than 34 percent. As a result, investors decided to withdraw capital from the fund. In 2022, Greenlight Capital managed $1.4 billion.
Remarkable success as a poker player
In addition to his work as an investor, David Einhorn has also made headlines in the past as a participant in renowned and highly prized poker tournaments. As a multiple participant in the poker world championship, the so-called World Series of Poker (WSOP), he managed to reach the money in 2006, 2012 and 2014. At the 2012 WSOP, he took third place in the so-called “Big One for One Drop” and secured prize money of more than $4.3 million.
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