Bruce R. Berkowitz

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Bruce Berkowitz
Born1958 (age 59–60)
ResidenceCoral Gables, Florida
NationalityUnited States
EducationB.S. University of Massachusetts Amherst
Occupationequity fund manager
Known forfounder of Fairholme Capital Management
Spouse(s)married
Childrenthree
Parent(s)Hennie and Barney Berkowitz

Bruce R. Berkowitz is an American equity fund manager and registered investment adviser.[1] Berkowitz founded Fairholme Capital Management in 1997 and was formerly a senior portfolio manager at Lehman Brothers Holdings and a managing director of Smith Barney. Berkowitz was named 2009 Domestic-Stock Fund Manager of the Year and Domestic-Stock Fund Manager of the Decade by Morningstar, Inc..[2]

Early life and education[edit]

Berkowitz, was raised in a Jewish family[3][4][5] in Chelsea, Massachusetts, the son of Hennie and Barney Berkowitz. He attended Chelsea High School and Huntington Prep before graduating from Beaver Country Day School.[6] In 1980, he graduated with a bachelor's degree in economics, cum laude, from the University of Massachusetts Amherst.[7]

Career[edit]

After college, Berkowitz worked at the Strategic Planning Institute in Cambridge, a management consulting firm. In 1983, he joined Merrill Lynch in London.[8] In 1986 he accepted a job with Lehman Brothers in London and then transferred to their New Jersey office in 1989 as a senior portfolio manager. In 1993, he became a managing director of Smith Barney Investment Advisers.[6]

In 1997, Berkowitz started his own firm, Fairholme Capital Management. The name of the firm "Fairholme" was the name of the last street on which he had lived.[6]

In late 2010 it was announced that Berkowitz had joined the board of directors of the St. Joe Company.[9]

Personal life[edit]

Berkowitz lives in Coral Gables, Florida.[8] He has been married since 1980, and he has two sons and one daughter.[6]

Philanthropy[edit]

Berkowitz donated $6.75 million to the Center for Jewish History which is dedicated to the preservation of Jewish history and genealogy. His donation along with that of Bill Ackman, the CEO of hedge fund Pershing Square Capital Management, and Joseph Steinberg, the president of Leucadia National, were the three largest individual gifts that the center has ever received.[10]

References[edit]

  1. ^ Bruce R. Berkowitz. Forbes.com
  2. ^ PR Newswire Morningstar Names Bruce Berkowitz, David Herro, and Bill Gross Fund Managers of the Decade
  3. ^ The Jewish Businessman Who Beats Warren Buffett At His Own Game. 19 July 2009
  4. ^ Forbes: "Bruce Berkowitz Dances Quietly to the Beat of His Own Investment Drum" November 20, 2014
  5. ^ Times of Israel: "The Jewish Origins of Value investing" by Gabriele Grego December 8, 2014
  6. ^ a b c d Chelsea Record: "A real Chelsea success story" 15 July 2010
  7. ^ Cendrowski, Scott (December 10, 2010). "Bruce Berkowitz: the megamind of Miami". Fortune.
  8. ^ a b Fortune Bruce Berkowitz: The megamind of Miami
  9. ^ Fortune
  10. ^ The Jewish Week: "History Center In The Black" by Tamar Snyder 25 January 2011

External links[edit]