Daniel Och – Billionaire
| Daniel S. Och | |
|---|---|
Daniel Och at the World Economic Forum annual meeting in 2009
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| Born | 1961 |
| Nationality | American |
| Alma mater | University of Pennsylvania |
| Occupation | Investor, hedge fund manager, and philanthropist |
| Known for | Founding and leading Och-Ziff Capital Management |
| Net worth | US$3.2 billion(February 2017) |
| Spouse(s) | Married |
| Children | 3 |
| Parent(s) | Golda and Michael Och |
Daniel Och (born 1961) is an American investor, hedge fund manager, and philanthropist. He is the chairman and CEO of Och-Ziff Capital Management Group, a global hedge fund and alternative asset management firm.
According to Forbes Magazine he has a net worth of US$3.2 billion (as of February 2017), down from his 2016 net worth of $3.7 billion.
Early life and education
Och is the son of Golda and Dr. Michael Och. Och grew up in Maplewood, New Jersey and attended the Solomon Schechter Day School of Essex and Union (since renamed Golda Och Academy, in honor of his mother) in West Orange, New Jersey, a Jewish day school founded by his parents. In December 2010, Och donated $15 million to the school, effectively doubling its endowment.Och has a B.S. in Economics with a concentration in Finance from the Wharton School of the University of Pennsylvania.
Investment career
In 1982, Och began his career at Goldman Sachs in the Risk Arbitrage Department. He was later the Head of Proprietary Trading in the Equities Division and Co-Head of U.S. Equities Trading. He worked at Goldman Sachs for 11 years. In 1994, Och founded Och-Ziff Capital Management Group with $100 million initial investment from the Ziff brothers (see Dirk Edward Ziff, Daniel M. Ziff, Robert D. Ziff), heirs to publishing magnate William Bernard Ziff, Jr. Och-Ziff completed an initial public offering in 2007, listing its shares on the New York Stock Exchange initially at a price of $32.00. The company’s stock has declined significantly since the IPO, reaching its all-time low of 3.29 on July 22, 2016.
In February 2014 Forbes listed Daniel Och as one of the 25 Highest-Earning hedge fund managers in 2013. His 2013 total earnings of $400 million ranks him the 17th among the 25 top earning hedge fund managers.
On May 8, 2015, Och was targeted by the “Hedge Clippers” activist group, who protested outside of his residence at 15 Central Park West, New York CIty.
In September 2016, the U.S. government fined Och $2.2 million and the Och-Ziff fund $413 million for paying over $100 million in bribes to various African government officials.
Source:wikipedia