|Alma mater||B.A. University of Michigan|
|Occupation||Founder of Saba Capital Management|
|Net worth||US$ 450 million (September 2012)|
|Parent(s)||Stanford and Giselle Weinstein|
Early life and education
Weinstein grew up in a secular Jewish family. Weinstein first enrolled in a chess workshop at the age of five and earned the title of National Master by the time he was sixteen. He is also a skilled poker and blackjack player. In 2005, Warren Buffett invited him to a poker tournament, where he won a Maserati. Weinstein graduated from Stuyvesant High School in New York City and from the University of Michigan in 1995 with a degree in Philosophy.
Boaz worked at Deutsche Bank from 1998–2009. He was Co-Head of Global Credit Trading where he oversaw a team of approximately 650 professionals and was a member of the Global Markets Executive Committee. Boaz rose to prominence in 2006 and 2007, when the Saba proprietary trading group cleared over $1.5 billion in profits. Weinstein was promoted at age 27 to become Deutsche Bank’s youngest ever Managing Director. His proprietary trading group was widely reported to have lost about 18% on $10 billion of capital in 2008, his only losing year out of his eleven years at Deutsche Bank.
Saba Capital Management
In 2009, Weinstein went ahead with a plan to lift out 15 members of his team to start his own credit-focused hedge fund, Saba Capital Management, based in New York. Saba launched its flagship fund in August 2009 with $140 million.
In March 2011, Saba was listed as the fastest growing hedge fund in 2010 by Absolute Return + Alpha Magazine. Weinstein was also included in Fortune Magazine’s 40 Under 40 list in 2010 and 2011. In 2012, Weinstein profited from a notable $6-billion loss incurred by JPMorgan on account of a failed investment in credit derivatives attributed to Bruno Iksil.
As of March 2017, Saba managed $1.7 billion in assets.
Weinstein serves on the Board of Directors of Stuyvesant High School and is also a Leadership Council member for Robin Hood, New York’s largest poverty-fighting organization.
In 2010, Weinstein married Tali Farhadian in a Jewish ceremony at the Central Synagogue in Manhattan. Tali was born in 1975 in Iran to a Jewish family that fled the fall of the Shah in 1979. She is a Rhodes Scholar and was previously an attorney with the United States Department of Justice.
- Forbes - Ones to Watch: Boaz Weinstein September 2012
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- The Next Best Hope
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- Billion dollar club Archived August 10, 2011, at the Wayback Machine.
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- Delevingne, Lawrence (March 21, 2017). "Hedge fund Saba settles valuation dispute with Canadian pension plan". Reuters.
- Fleisher, Lisa (July 10, 2012). "Donation May Heal Stuyvesant Rift". Wall Street Journal.
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- Bill Dedman and Paul Clark Newell, Jr., Empty Mansions: The Mysterious Life of Huguette Clark and the Loss of one of the World's Greatest Fortunes, London: Atlantic Books, 2013, p. 348