Chase Coleman III | |
|---|---|
| Born | Charles Payson Coleman III June 1, 1975 |
| Nationality | American |
| Alma mater | Williams College |
| Occupation | Hedge fund manager |
| Title | Founder, Tiger Global Management |
| Spouse | Stephanie Ercklentz (m. 2005) |
| Children | 4 |
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]
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]
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]
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 ]
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.