Jeffrey Vinik

From Wikipedia, the free encyclopedia
  (Redirected from Jeff Vinik)
Jump to: navigation, search
Jeffrey N. Vinik
Born (1959-03-22) March 22, 1959 (age 55)
Deal, New Jersey
Nationality USA
Alma mater Duke University (B.S., Civil Engineering, 1981)
Harvard Business School (MBA, 1985)
Occupation businessman, philanthropist
Known for owner of professional sports teams

Jeffrey N. Vinik (born March 22, 1959) is the current owner of the Tampa Bay Lightning (NHL) and the Tampa Bay Storm (AFL),[1] as well as a minority owner of the Boston Red Sox (MLB).[2] He is also on the board of directors for Liverpool Football Club of the Premier League.[3]

Early life[edit]

Vinik was born in Deal, New Jersey.[4] He graduated Phi Beta Kappa from Duke University in 1981 with a bachelor of science in civil engineering.[5] He also obtained an MBA from Harvard Business School in 1985.

Career[edit]

Vinik managed the Fidelity Magellan Fund from 1992 to 1996, where he averaged 17% annual returns.[6] After leaving Fidelity, he started a hedge fund called Vinik Asset Management. He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio.[7]

Philanthropy[edit]

In 1998, Vinik and his wife, Penny, donated $1.25 million to endow a professorship at Duke's engineering school. The next year, they donated $5 million towards facilities at the engineering school.[8] In 2012, they donated $10 million to create a challenge fund to endow associate and full professorships dedicated to addressing complex societal challenges.[9]

References[edit]