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Stephen Mandel (hedge fund manager)

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Stephen Mandel Jr.
Born (1956-03-12) March 12, 1956 (age 68)
CitizenshipUnited States
Alma materDartmouth College (BA)
Harvard Business School (MBA)
Known forFounding and leading Lone Pine Capital
Board member ofDartmouth College
Teach for America
SpouseSusan Joy Zadek
Children3

Stephen Frank Mandel Jr. (born March 12, 1956) is an American hedge fund manager, investor, and philanthropist. He founded Lone Pine Capital in 1997, after working as the managing director at Tiger Management.[1] According to Forbes, Mandel has an estimated net worth of US$3.9 billion as of August 2022.[2]

Early life and education

Mandel is the son of Ann (née Safford) and Stephen Frank Mandel and grew up in Darien, Connecticut.[3][4] He has a brother, Edward Safford Mandel.[5] In 1974, Mandel graduated from the Phillips Exeter Academy. In 1978, he graduated from Dartmouth College with a Bachelor of Arts in government and was a member of the Psi Upsilon fraternity.[1] He also has an M.B.A. from Harvard University.[6]

Investment career

From 1982 to 1984,[1] he worked at Mars & Co as a senior consultant[7] and then from 1984 to 1990,[1] he worked as a consumer-retail analyst at Goldman Sachs[8] before working as a consumer analyst and eventually managing director at Tiger Management,[1] a hedge fund founded by Julian Robertson. In 1997, he left Tiger and founded his own hedge fund, Lone Pine Capital LLC[6] (named after a Dartmouth College pine tree that survived an 1887 lightning strike).[9]

Forbes listed Stephen Mandel as one of the 40 Highest-Earning hedge fund managers in 2012, one of the top 25 in 2013,[10][11] and one of the top 15 in 2018.[2]

As of January 2019, Mandel will no longer manage investments for his Lone Pine Capital but will remain a managing director.[9]

Wealth and philanthropy

According to Forbes Magazine, Mandel has a net worth of $3.9 billion as of October 2021.[12] An increase of $1.1B, when compared to the Forbes 400 List, released October 2020[2]

He was chairman of Dartmouth's board of trustees[13] and is currently chair of the national board of directors at Teach for America.[14] He founded two charitable foundations: the Zoom Foundation and the Lone Pine Foundation.[15] Mandel donated $1 million to the Lincoln Project, an anti-Donald Trump super PAC.[16]

Personal life

In 1982, he married Susan Joy Zadek of Baltimore, whom he met at Harvard.[17][18][19] They have three children.[6] His wife is a trustee of the Environmental Defense Fund and of Vassar College.[20]

References

  1. ^ a b c d e "This page has moved". www.dartmouth.edu. 7 July 2023.
  2. ^ a b c "Forbes profile: Stephen Mandel, Jr". Forbes. Retrieved 24 August 2022.
  3. ^ Dartmouth Alumni Magazine: "Stephen Frank Mandel ’52" Jan-Feb 2010
  4. ^ Stamford Advocate: "Stephen Frank Mandel" September 13, 2009
  5. ^ New York Times: "Betsy B. Phillips To Wed in May" January 18, 1987
  6. ^ a b c Forbes: The World's Billionaires: Stephen Mandel Jr. March 2013
  7. ^ "Steve Mandel Profile," GuruFocus.com
  8. ^ "Cult of Personalities," Institutional Investor Alpha, October 2008
  9. ^ a b Forbes: The World's Billionaires - Stephen Mandel Jr March 2008
  10. ^ Vardi, Nathan (Feb 26, 2013), "The 40 Highest-Earning Hedge Fund Managers & Traders", Forbes
  11. ^ Vardi, Nathan (Feb 26, 2014), "The 25 Highest-Earning Hedge Fund Managers And Traders", Forbes
  12. ^ "The Forbes 400 List 2021, #289 Stephen Mandel, Jr". October 4, 2021.
  13. ^ "Lone Pines' Stephen Mandel elected chairman of Dartmouth's board," Absolute Return, May 1, 2010
  14. ^ "National Board of Directors". Teach for America.
  15. ^ Institutional Investor: "Hedge Fund Giving Wanes" by Danielle Beurteaux March 19, 2009
  16. ^ "Six More Billionaires Donate To The Anti-Trump Lincoln Project". July 15, 2020.
  17. ^ Dartmouth Now newsletter: "‘Visible and Accessible’: Chair Steve Mandel ’78 on Priorities for the Board" By Sarah Memi Archived 2011-09-20 at the Wayback Machine November 29, 2010
  18. ^ New York Times: "Susan Zadek To Be Bride" March 21, 1982
  19. ^ New York Times: "Sea, Sand, Faith: Far From Home but Closer to Heaven" By NEELA BANERJEE August 20, 2009
  20. ^ New York Times: "Kate Mandel, Christopher Bruce" September 27, 2015
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