Stephen Mandel (hedge fund manager)
Stephen Mandel Jr. | |
|---|---|
| Born | March 12, 1956 Darien, Connecticut, U.S. |
| Occupation(s) | Investor, hedge fund manager, philanthropist |
| Years active | 1982–present |
| Known for | Founder of Lone Pine Capital |
Stephen Frank Mandel Jr. (born March 12, 1956) is a prominent American investor, hedge fund manager, and philanthropist. After holding the position of managing director at Tiger Management, he established Lone Pine Capital in 1997. As reported by Forbes, Mandel's net worth was valued at approximately US$3.9 billion as of August 2022.
Early life
Born to Ann (née Safford) and Stephen Frank Mandel, Mandel grew up in Darien, Connecticut. He has a sibling named Edward Safford Mandel. He completed his secondary education at Phillips Exeter Academy in 1974 and obtained a Bachelor of Arts degree in government from Dartmouth College in 1978, where he was affiliated with the Psi Upsilon fraternity. Additionally, he earned an M.B.A. from Harvard University.
Investment career
Between 1982 and 1984, Mandel served as a senior consultant at Mars & Co, followed by a role as a consumer-retail analyst at Goldman Sachs until 1990. Subsequently, he joined Tiger Management, rising to the role of managing director and receiving commendation from founder Julian Robertson, who described him as "probably the greatest analyst of all time."
In 1997, with support from Robertson, Mandel launched Lone Pine Capital, a name inspired by a hardy pine tree on Dartmouth's campus. Forbes has frequently recognized him among the highest-earning hedge fund managers: placing him within the top 40 earners in 2012, the top 25 in 2013, and the top 15 in 2018.
By January 2019, Mandel transitioned away from active investment management at Lone Pine Capital but continues to hold the title of managing director.
Wealth and philanthropy
Forbes Magazine estimated Mandel’s net worth at $3.9 billion as of October 2021, marking an increase of $1.1 billion from the previous year. He has held the position of chairman on Dartmouth's board of trustees and presently leads the national board of directors for Teach for America. Mandel is also the founder of both the Zoom Foundation and the Lone Pine Foundation. His philanthropic contributions include a $2 million donation to the Lincoln Project, an anti-Donald Trump super PAC, and over $16 million given to the Democratic Party during the 2020 election cycle, ranking him as the 22nd largest contributor that year.
Personal life
Mandel married Susan Joy Zadek in 1982 after meeting her at Harvard University. The couple has three children. His wife is actively involved as a trustee of the Environmental Defense Fund.
External links
- "Big bucks for hedge fund workers," Money, July 5, 2005
- "The Power 30: The Investors," SmartMoney, October 10, 2006
- "The Forbes 400 #289 Stephen Mandel, Jr.," Forbes, October 4, 2021
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