John Paulson is a well renowned name in the financial industry and the stock market. He is the owner of ‘Paulson and Co.’, an investment management company, which handles mergers, spin-offs, acquisitions, etc. He is widely enumerated amongst the list of most influential investors and hedge fund managers the Wall Street has ever seen. He is also involved in a number of charitable endeavors. Read on further to know more about John Paulson’s life, career and net worth in 2019!
John Paulson, named John Alfred Paulson, was born on the 14th of December, 1955 in Queens, New York to Alfred G. Paulson and Jacqueline Boklan. His parents were of French and Jewish ancestry and he was their third child, out of a total of four children. In 1976, he enrolled himself at NYU to pursue a degree in business studies. He graduated from NYU’s College of Business and Public Administration in 1978 with flying colors. He was the Valedictorian of his class. He bagged the Sidney J. Weinberg/Goldman Sachs scholarship through which he took admission in the Harvard Business School. He acquired his MBA degree as a George F. Baker Scholar in the year 1980.
John Paulson married Jenny Zaharia, his former assistant, in 2000 in Southampton, New York. The couple has two children, both girls named Giselle and Danielle. He mostly lives with his family in his Upper East Side townhouse on East 86th Street. He also owns properties in Aspen and Southampton. He is an exceptionally low lying personality considering his vast fame and riches and usually avoids interviews and media altogether. He is currently 62 years old.
John Paulson started his career in 1980 when he joined ‘Boston Consulting Group’ in the position of a researcher-cum- adviser. He later moved on to ‘Odyssey Partners’ in order to pursue his passion for the investment arena. There he got the opportunity to work with Leon Lavy, a famous American investor. Next, he transferred to ‘Bear Stearns’ before leaving it too in favor of ‘Gruss Partners LP’. John started up his own hedge fund, ‘Paulson and Co.’ in the year 1994 with an investment of $2 million. In the beginning, he only had a single employee. His office quarters were taken on rent from ‘Bear Stearns’. He was able to increase his funds up to $300 million in just 9 years (by 2003).
In 2007, when the subprime mortgage crisis occurred, John made a series of innovative investments, taking a number of risks in the process. He put his money on ‘credit default swaps’ instead on the mortgage backed securities thus, shorting the US housing market, acquiring around $4 billion personally and becoming a world-renowned public figure in a short span of time. In 2010, he further registered an incredible feat by making $5 billion in the span of a single year through hedge funds. He is also a huge investor in gold. He has been active in charity as well, especially from 2009 to 2011 when he donated $20 million to NYU Stern School of Business, $ 15 million for the construction of a children’s hospital in Ecuador and $5 million to Southampton Hospital.
Awards and Achievements
• Paulson and Co. named ‘Hedge Fund Firm of the Year’- Absolute Return Awards (2013).
• Paulson Recovery Fund won ‘best event driven vehicle’ (2013).
• Paulson and Co.’s International fund also won in its respective category in the same Award event.
Net Worth of John Paulson
The net worth of John Paulson is a startling $7 billion.
John Paulson is considered as one of the biggest fortune makers on Wall Street. He is one of the richest people in America and all the credit goes to his finance and fund managing skills.