|Alma mater||B.A. University of Michigan|
|Occupation||Founder of Saba Capital Management|
|Net worth||US$ 450 million (September 2012)|
|Spouse(s)||Tali Farimah Farhadian|
|Parent(s)||Stanford and Giselle Weinstein|
Early life and education
Weinstein grew up in a secular Jewish family. His father, Stanford, owned an insurance brokerage firm in Brooklyn. His mother, Giselle, previously worked for the Foreign Office in Jerusalem and also worked as a translator for the Haaretz newspaper. Boaz has an older sister, Ilana, who is a head hunter in the hedge fund arena. 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 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.
He worked at Deutsche Bank from 1998–2009 and rose to prominence in 2006 and 2007, when one of his trading groups 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 previously agreed upon plan with Deutsche Bank 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. As of June 2012, Saba had $5.78 billion in assets under management, including $780 million in a "Tail Hedge fund," which aims to protect client assets against rare and unexpected market events. In March 2011, Saba was listed as the fastest growing hedge fund in 2010 by Absolute Return + Alpha Magazine, with assets under management increasing by 293% that year. Weinstein was also included in Fortune Magazine’s 40 Under 40 list in 2010 and 2011. In 2012, Weinstein profited substantially from a notable $2-billion loss incurred by JPMorgan on account of a failed investment in credit derivatives attributed to Bruno Iksil. Saba lost money in 2012, 2013, and 2014 and as some investors withdrew their funds, the main fund's assets fell to $736 million as of January 2015.
In 2010, he married Tali Farimah 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 currently an attorney with the United States Department of Justice. She had previously worked for the United States Attorney General, one of a number of DOJ attorneys embroiled in a controversy after it was revealed that, prior to their government employment, they had worked as lawyers or advocates for Guantanamo Bay detainees.
In 2012 Weinstein was reported to have bought a $25.5 million property on Manhattan's 907 Fifth Avenue, from the estate of Huguette Clark. He paid 6 percent over the asking price for the apartment, which has 11-foot ceilings and views over Central Park.
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- New York Times: "Tali Farhadian and Boaz Weinstein" November 5, 2010
- Yale Bulletin: "Soros Fellowships for New Americans" March 15, 2002
- Harshaw, Tobin (5 March 2010). "Liz Cheney's 'Al Qaeda Seven'". The New York Times.
- Fox News: "Exclusive: Unknown DOJ Lawyers Identified" by Mike Levine March 3, 2010
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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