Daniel Och

Last updated

Daniel Saul Och
Daniel S. Och - World Economic Forum Annual Meeting Davos 2009.jpg
Daniel Och at the World Economic Forum annual meeting in 2009
Born1961 (age 62–63)
NationalityAmerican
Alma mater Wharton School of the University of Pennsylvania
Occupation(s) hedge fund manager, and philanthropist
Known forFounder and chairman, Och-Ziff Capital Management [1]
SpouseJane Och [2] [3]
Children3 [2] [3]

Daniel Och (born 1961) is an American billionaire hedge fund manager, and philanthropist. He is the founder, chairman and former CEO of Och-Ziff Capital Management, a global hedge fund and alternative asset management firm. [1] According to Forbes he has a net worth of US$3.6 billion, as of August 2021. [2]

Contents

Early life and education

Och is Jewish, the son of Golda and Dr. Michael Och. [4] 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. [4] In December 2010, Och donated $15 million to the school, effectively doubling its endowment. [5] Och has a bachelor's degree in economics with a concentration in finance from the Wharton School of the University of Pennsylvania. [6]

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. [6] In 1994, Och founded Och-Ziff Capital Management Group with $100 million initial investment from the brothers Dirk Edward Ziff, Daniel M. Ziff, and Robert D. Ziff, heirs to publishing magnate William Bernard Ziff, Jr. [2] 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. [7]

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. [8]

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. [9]

In February 2018, Och was replaced as CEO of Och-Ziff by Robert Shafir. Och remains chairman until March 2019. [10] [11] This change in leadership occurred following the 2016 bribery scandal and caused turmoil as Och had formerly indicated James Levin would be his successor before retracting that statement. [12] [13]

Dan Och now invests out of his single-family office, Willoughby Capital, and his new $750M SPAC, AJAX Holdings. [14]

Donations

Philanthropy

Och sits on the board of Endeavor. [15] He is the vice chair of Robin Hood Foundation, a charitable organization fighting poverty in New York City. [16] He has sat on the board of trustees of New York-Presbyterian Hospital since 2005. [17]

In October 2017, the Spine Hospital of the NewYork–Presbyterian Hospital was named after Och and his wife following a $25 million donation. [18] In 2014, the University of Michigan established The Och Initiative for Women in Finance named after the Och family. [19]

In May 2022, The Jane and Daniel Och Family Foundation announced a $50 million gift to the New York-Presbyterian. The donation is to expand the Och Spine program across the New York area by increasing access to spinal care by establishing additional Och Spine facilities, while focusing additional resources on non-operative services and care. [20]

Political contributions

In 2008, Och donated $28,500 to Democratic Senatorial Campaign Committee. [21]

Personal life

Och is married to Jane Och with whom he has three children. [2] [3] Och's personal interests include philanthropy, skiing, and history. [22]

Related Research Articles

<span class="mw-page-title-main">David Koch</span> American billionaire heir and businessman (1940–2019)

David Hamilton Koch was an American businessman, political activist, philanthropist, and chemical engineer. In 1970, he joined the family business: Koch Industries, the second largest privately held company in the United States. He became president of the subsidiary Koch Engineering in 1979 and became a co-owner of Koch Industries in 1983. Koch served as an executive vice president of Koch Industries until he retired due to health issues in 2018.

<span class="mw-page-title-main">Paul Tudor Jones</span> American hedge fund manager and investor

Paul Tudor Jones II is an American billionaire hedge fund manager, conservationist and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut. Eight years later, he founded the Robin Hood Foundation, which focuses on poverty reduction. As of April 2022, his net worth was estimated at US$7.3 billion.

<span class="mw-page-title-main">Jim Simons (mathematician)</span> American mathematician and billionaire

James Harris Simons is an American hedge fund manager, investor, mathematician, and philanthropist. He is the founder of Renaissance Technologies, a quantitative hedge fund based in East Setauket, New York. He and his fund are known to be quantitative investors, using mathematical models and algorithms to make investment gains from market inefficiencies. Due to the long-term aggregate investment returns of Renaissance and its Medallion Fund, Simons is described as the "greatest investor on Wall Street", and more specifically "the most successful hedge fund manager of all time".

<span class="mw-page-title-main">Kenneth C. Griffin</span> American billionaire hedge fund manager (born 1968)

Kenneth Cordele Griffin is an American hedge fund manager, entrepreneur and investor. He is the founder, chief executive officer, co-chief investment officer, and 80% owner of Citadel LLC, a multinational hedge fund. He also owns Citadel Securities, one of the largest market makers in the U.S.

Golda Och Academy is a private Jewish day school that offers secular and religious education for Jewish children from pre-kindergarten through twelfth grade at two campuses in West Orange in Essex County, New Jersey, United States. Until June 2011 the school was called Solomon Schechter Day School of Essex and Union. The school primarily serves families in Essex and Union counties, but attracts students from all over northern and central New Jersey and also New York.

Daniel Seth Loeb is an American investor, hedge fund manager, and philanthropist. He is the founder and chief executive of Third Point, a New York-based hedge fund focused on event-driven, value-oriented investing with $4 billion in assets under management, as of December 2023. New York magazine noted that Loeb's "preferred strategy" is to buy into troubled companies, which "is the key to his success." Regarding his active involvement in the companies in which he invests, Loeb was described as "one of the most successful activists" in 2014.

The Robin Hood Foundation is a charitable organization which attempts to alleviate problems caused by poverty in New York City. The organization also administers a relief fund for disasters in the New York City area. In 2010, a key supporter gave every family with children on welfare in New York State $200 to buy school supplies. In 2017, Robin Hood appointed author and U.S. Army veteran Wes Moore as its first CEO. In September 2021, Richard Buery, Jr. joined Robin Hood as the new Chief Executive Officer.

<span class="mw-page-title-main">Ray Dalio</span> American investor and hedge fund manager (born 1949)

Raymond Thomas Dalio is an American investor and hedge fund manager, who has served as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, since 1985. He founded Bridgewater in 1975 in New York.

<span class="mw-page-title-main">Sculptor Capital Management</span> American investment management firm

Sculptor Capital Management is an American global diversified alternative asset management firm. They are one of the largest institutional alternative asset managers in the world.

<span class="mw-page-title-main">Arthur Samberg</span> American businessman and philanthropist (1941–2020)

Arthur Jay Samberg was an American businessman and philanthropist. He founded Pequot Capital Management and served as the chief executive officer, president and chairman of the company. Samberg's flagship Pequot fund, started in 1986, netted 17.8 percent over the life of the fund. After the fund closed, he managed his family office through Hawkes Financial. He was also a significant contributor to several hospitals and universities, including New York-Presbyterian Hospital and his alma maters Columbia Business School and the Massachusetts Institute of Technology.

<span class="mw-page-title-main">Barry Sternlicht</span> American businessman

Barry Stuart Sternlicht is an American billionaire and the co-founder, chairman, and CEO of Starwood Capital Group, an investment fund with over $100 billion in assets under management. He is also chairman of Starwood Property Trust. He is the founder of Starwood Hotels and Resorts Worldwide and served as its Chairman and CEO from 1995 to 2005. As of May 2023, his net worth was estimated at $4.6 billion.

<span class="mw-page-title-main">Glenn Dubin</span> American hedge fund manager (born 1957)

Glenn Russell Dubin is an American billionaire hedge fund manager and the Principal of Dubin & Co. LP, a private investment company. He is the co-founder of Highbridge Capital Management, an alternative asset management company based in New York City, and a founding board member of the Robin Hood Foundation.

Dirk Edward Ziff is an American billionaire businessman, the eldest son of publishing magnate William Bernard Ziff Jr. and grandson of William Bernard Ziff Sr. He and his two brothers inherited the family fortune in 1994.

Robert D. Ziff is an American billionaire, and the middle son of publishing magnate William Bernard Ziff Jr. and grandson of William Bernard Ziff Sr. He and his two brothers inherited the family fortune in 1994.

Daniel Morton Ziff is an American billionaire heir, and the youngest son of publishing magnate William Bernard Ziff, Jr. and grandson of William Bernard Ziff Sr. He and his two brothers inherited the family fortune in 1994. As of September 2021, his net worth is estimated at US$5 billion.

Larry Robbins is an American hedge fund manager and philanthropist. He is the chief executive of Glenview Capital Management, a hedge fund with approximately $7.7 billion of capital under management as of March 2019.

John Albert Overdeck is an American hedge fund manager. Overdeck is the co-founder and co-chairman of Two Sigma Investments, a New York City-based hedge fund that uses a variety of technological methods, including artificial intelligence, machine learning, and distributed computing, for its trading strategies. In 2016, Overdeck reported $375 million in earnings and as of May 2017, Two Sigma Investments has $41 billion in assets under management.

Joseph Edelman is an American hedge fund manager who founded Perceptive Advisors, a New York City-based hedge fund specializing in the healthcare sector and biotechnology. He helped take biotech firms public via the use of special-purpose acquisition companies.

Dirk, Robert and Daniel Ziff, known as the Ziff brothers, are the sons of American publishing magnate William Bernard Ziff Jr. and Barbara Ingrid Beitz. They inherited the family fortune in 1994 and formed Ziff Brothers Investments.

Maso Capital Partners Limited is a Hong Kong-based hedge fund that was founded and is run by Manoj Jain and Sohit Khurana. The fund is registered in the Cayman Islands under Cayman Islands company law and headquartered in Central, Hong Kong.

References

  1. 1 2 "Daniel Saul Och". Businessweek. Archived from the original on April 10, 2013. Retrieved March 19, 2013.
  2. 1 2 3 4 5 "Forbes profile: Daniel Och". Forbes . Retrieved August 20, 2021.
  3. 1 2 3 Wall Street Donors Guide: Daniel and Jane Och By Inside Philanthropy August 02, 2017
  4. 1 2 New Jersey Jewish News: "Schechter school mourns founder Golda Och, 74" January 13, 2010
  5. ↑ West Orange Patch: "Solomon Schechter Becomes Golda Och Academy with $15M Donation" by Joshua Wilwohl Archived January 4, 2012, at the Wayback Machine December 6, 2010
  6. 1 2 "Daniel Och". Och-Ziff Capital Management Group. Archived from the original on April 2, 2009. Retrieved April 19, 2009.
  7. ↑ Vardi, Nathan (February 26, 2014), "The 25 Highest-Earning Hedge Fund Managers And Traders", Forbes
  8. ↑ "Hedge Clippers Take On Daniel Och "The Wolf Of Wall Street"". ValueWalk. Retrieved May 8, 2015.
  9. ↑ Stevenson, Alexandra (September 29, 2016). "Och-Ziff to Pay Over $400 Million in Bribery Settlement". The New York Times. Retrieved December 6, 2018.
  10. ↑ "Oz Management Appoints Robert Shafir to Succeed Dan Och as Chief Executive Officer". GlobeNewswire (Press release). January 30, 2018. Retrieved August 20, 2019.
  11. ↑ "Bloomberg: Beleaguered Och-Ziff Turns to Steady Hand for CEO to Calm Waters". Bloomberg News . January 30, 2018.
  12. ↑ "Och-Ziff changes leadership, co-CIO Windreich to retire: letter". Reuters. June 28, 2018 – via www.reuters.com.
  13. ↑ "When Succession Planning Goes Wrong". Institutional Investor. March 6, 2018.
  14. ↑ Herbst-Bayliss, Svea (October 10, 2020). "Billionaire U.S. investor Dan Och seeks $750 million for SPAC". Reuters. Retrieved January 19, 2021.
  15. ↑ "Daniel S. Och Joins Endeavor's Board of Directors". Business Wire. July 12, 2007.
  16. ↑ "Robin Hood's Board of Directors". Robin Hood Foundation. Archived from the original on March 25, 2009. Retrieved April 19, 2009.
  17. ↑ "Hospital Leadership - Board of Trustees". New York Presbyterian. Retrieved July 7, 2019.
  18. ↑ Whitman, Elizabeth (October 31, 2018). "The Nation: A New York Community Fights to Keep a Psychiatric Ward in Its Own Backyard". The Nation. Archived from the original on December 6, 2018. Retrieved December 6, 2018.
  19. ↑ "Leaders & Best". Leaders & Best.
  20. ↑ "Och Family Foundation awards $50 million to New York-Presbyterian". Philanthropy News Digest. May 12, 2022. Retrieved May 12, 2022.
  21. ↑ "FundRace 2008". Huffington Post. Archived from the original on July 16, 2011. Retrieved August 20, 2019.
  22. ↑ Christine Williamson (October 19, 2009). "Strong character: Face to face with Daniel S. Och". Pensions & Investments.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.