Chase Coleman III

Last updated
Chase Coleman III
Born
Charles Payson Coleman III

(1975-06-01) June 1, 1975 (age 49)
NationalityAmerican
Alma mater Williams College
Occupation Hedge fund manager
TitleFounder, Tiger Global Management
Spouse
Stephanie Ercklentz
​
(m. 2005)​
Children4

Charles Payson "Chase" Coleman III (born June 1, 1975) [1] is an American billionaire hedge fund manager, and the founder of Tiger Global Management. [2] As of July 2023, his net worth is estimated at US$8.5 billion by Forbes making him the 258th richest person in the world. [3]

Contents

Early life and education

Coleman grew up in Glen Head, Long Island. [4] His father, C. Payson Coleman Jr., born in 1950, [5] is a partner at the New York law firm Pillsbury Winthrop Shaw Pittman, and his mother, Kim Coleman, owns an interior design firm. [6] [7]

His grandfather, Charles Payson Coleman, who was managing partner of the New York law firm Davis Polk & Wardwell until his death in 1982, was married to Mimi C. Thompson ( née  Louise Stuyvesant Wainwright), a descendant of Peter Stuyvesant, the last Dutch Governor who surrendered New Amsterdam to the British. [8] [9]

Coleman followed his father to both Deerfield Academy [4] and Williams College, where he graduated in 1997, and was co-captain of the lacrosse team. [10]

Investment career

Coleman started his career in 1997, working for Julian Robertson and the latter's hedge fund, Tiger Management. [11] He had grown up with Robertson's son, Spencer, who lived close to Glen Head, in Locust Valley. In 2000, Robertson closed his fund, and entrusted Coleman with over $25 million to manage, making him one of the 30 or more so-called "Tiger Cubs", fund managers who started their fund management careers with Tiger Management. [4] “I’ve known Chase since he was a young boy on Long Island and a good friend of my son Spencer,” [Julian] Robertson said. [12]

Coleman serves as partner of the investment firm he founded, Tiger Global Management. The hedge fund was an early investor in both Facebook and LinkedIn. [13] [14]

On the Forbes 2019 list of the world's billionaires, he was ranked #458 with a net worth of US$4.5 billion. [11] According to Business Insider , he was born into "old money" and has made a lot of "new money" as well. [15] According to Institutional Investor , he made an estimated $2.5 billion in 2020. [16]

Political contributions

In 2012 Coleman donated US$31,000 to the National Republican Senatorial Committee and US$5,000 to Mitt Romney's presidential campaign. [4] He has also donated to Democratic candidates, including $10,000 to New York Governor Andrew Cuomo, $4,950 to Manhattan Borough President Scott Stringer, and $2,700 to New York Senator Charles Schumer.[ citation needed ]

Personal life

Coleman married Stephanie Ercklentz, the daughter of lawyer Enno Ercklentz Jr. and Mai Harrison and step-daughter of Ridgely W. Harrison Jr., at Bethesda-by-the-Sea, Palm Beach, Florida, in 2005. [7] [17] She is a Wellesley College graduate who worked in investment banking for Merrill Lynch and Marketing and PR for Anne Klein and Vera Wang. [18] Ercklentz was featured in the film Born Rich , a 2003 documentary about growing up in the world's richest families. [19] Her mother, Mai Harrison (née Vilms), is the grand-niece of Jüri Vilms, a member of the Estonian Salvation Committee and leader of the Estonian Independence Movement. [20]

The couple resides in New York City with their 4 children. [19] In 2007, they bought an estate on Meadow Lane in Southampton for $32.5 million. [21] In 2008, they bought the entire sixth floor of a Fifth Avenue building at 66th Street from Veronica Hearst, the daughter-in-law of William Randolph Hearst, for US$36.5 million. [4] In 2016, the Colemans bought the fifth floor for $52 million and infamously allowed party guests to graffiti its walls in 2018 before demolishing its interior to combine it with their existing home. [22] They also own properties in Palm Beach, Florida.

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References

  1. ↑ Melby, Caleb. "Meet The 20 Newcomers To The Forbes 400". forbes.com. Archived from the original on October 18, 2016. Retrieved October 15, 2016.
  2. ↑ de la Merced, Michael (May 19, 2015). "Tiger Global to Revamp Management". The New York Times. Archived from the original on April 9, 2016. Retrieved October 15, 2016.
  3. ↑ "Forbes profile: Chase Coleman, III". Forbes. Retrieved 8 October 2021.
  4. 1 2 3 4 5 Effinger, Anthony; Burton, Katherine; Levy, Ari (January 10, 2012). "Top Hedge Fund Returns 45% With Robertson's 36-Year-Old Disciple". Bloomberg Business. Archived from the original on January 21, 2016. Retrieved January 4, 2016.
  5. ↑ David Marcus; Marie T. Finn; Marie T. Hough; Linda D. Estelle; Mindy Toomay; Nancy L. Jellison; Diana L. Richardson; Jeanie J. Clapp; Bernadette B. Grabb (1986). The American Bar, the Canadian Bar, the International Bar. R.B. Forster & Associates. p. 2198. ISBN   9780931398124 . Retrieved September 8, 2015.
  6. ↑ "Tiger Global's Chase Coleman: With This Reclusive Billionaire, Actions Speak Louder Than Words". Ibillionaire.me. June 2, 2014. Archived from the original on 2015-09-20. Retrieved September 7, 2015.
  7. 1 2 "Hot & Cold". Newyorksocialdiary. January 25, 2005. Archived from the original on August 11, 2015. Retrieved September 8, 2015.
  8. ↑ Saxon, Wolfgang (October 15, 1996). "Mimi C. Thompson, 69, New York Volunteer and Philanthropist". The New York Times. Archived from the original on September 28, 2015. Retrieved September 15, 2015.
  9. ↑ Effinger, Anthony; Burton, Katherine (January 9, 2015). "Why Photos of Some Hedge-Fund Managers Are So Hard to Find". Bloomberg Business. Archived from the original on October 1, 2015. Retrieved September 26, 2015.
  10. ↑ Parmar, Hema; Karsh, Melissa; Alexander, Sophie (June 27, 2019). "Charmed Life". Bloomberg. Archived from the original on August 21, 2019. Retrieved August 21, 2019.
  11. 1 2 "The World's Billionaires (2016 ranking): #722 Chase Coleman, III". Forbes . March 1, 2016. Archived from the original on January 3, 2017. Retrieved January 3, 2017.
  12. ↑ "Profile". 27 June 2019. Archived from the original on 2020-10-27.
  13. ↑ "Tiger Global Among Top Spotify Holders With $1.9 Billion Stake". Bloomberg.com. 3 April 2018. Archived from the original on 2018-05-06. Retrieved 2018-07-14.
  14. ↑ Wee, Gillian (23 January 2011). "Tiger Global Said to Put New Private-Equity Fund Into Facebook". Bloomberg.com. Archived from the original on 2017-11-26. Retrieved 2018-07-14.
  15. ↑ "Chase Coleman". Business Insider. Archived from the original on September 10, 2015. Retrieved September 15, 2015.
  16. ↑ Taub, Stephen (February 22, 2021). "The 20th Annual Rich List, the Definitive Ranking of What Hedge Fund Managers Earned in 2020". Institutional Investor . Retrieved March 3, 2021.
  17. ↑ "Obituaries". Columbia College Today. Winter 2014. Archived from the original on June 25, 2018. Retrieved August 9, 2020.
  18. ↑ "About". Valentines Farm. Retrieved 2021-07-14.
  19. 1 2 Pressler, Jessica (January 5, 2011). "Chase Coleman's Status Update: Rich". New York . Archived from the original on September 28, 2015. Retrieved September 15, 2015.
  20. ↑ "Mai A. Vilms Fiancee Of Enno Ercklentz Jr". The New York Times. Archived from the original on 2020-10-27. Retrieved 2020-08-09.
  21. ↑ "The Hamptons' Billionaire Lane, Mapped". 25 April 2016.
  22. ↑ "A Billionaire Lets Guests Vandalize His Upper East Side Apartment".
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