Believe it or not, hedge fund billionaires’ children are normal in that just like “average” children, they endeavor to step out from the protective umbrella of their parents to become “great” on their own. However, a hedge fund heir’s life is as scrutinized and publicized as a Hollywood celebrity’s life. A hedge fund heir is expected to excel in everything since their parent(s) are billionaire business moguls. Many of these hedge fund “babies” party hard, travel to exotic locations, purchase expensive cars, abuse drugs and alcohol, and get in trouble with the law–not to mention the small fortune their parents spend on therapist sessions, equestrian and aviation lessons, and Ivy League education fees. However, after these billionaire heirs evolve into mature adults and learn to hide their partying ways, the difference between them and the “average” adult is that hedge fund heirs can either work or live off of their inheritance fortunes. The paparazzi now photograph them jet setting from one charity function to another or quietly running the family business. This following list of billionaire hedge fund heirs have dared to step out of the shadows of their fathers and forge their own paths… with their fathers’ money of course:
Son of billionaire hedge fund magnate George Soros, Alexander graduated from NYU in 2009. He is currently pursuing a doctorate in History at the UC Berkeley and settling into his profession as a philanthropist. Known for his wild parties and beautiful playmates, he is cleaning up his reputation through his charitable work at the Alex Soros Foundation, an organization he founded to combat social and racial injustice.
•Paul Dalio is the son of Ray Dalio. Dalio Sr., whose net worth is $14.4 billion, is the founder of the investment firm Bridgewater Associates. Paul is a writer, producer, and aspiring film director who hangs out with the likes of famed director/producer Spike Lee and A-list actress Katie Holmes. Paul’s new movie, “Mania Days,” is currently in production.
•Matthew A. Dalio (Matt), the second son of Ray Dalio, is Founder and Chairman of the China Care Foundation, a non-profit dedicated to helping Chinese orphans. He is also CEO and chief of product of Endless Mobile, a company that builds smartphone software. Matthew received his undergraduate degrees from Harvard and his MBA from Stanford. In 2004, ABC News named him “Person of The Week.”
•Brian Tepper is the son of billionaire hedge fund manager David Tepper of Appaloosa Management. Brian graduated from Full Sail University and is involved in the software engineering and game development fields.
•Wayne Cooperman is the son of billionaire hedge fund manager Leon Cooperman. Wayne Cooperman, followed in his father’s footsteps at the early age of 28. In 1994, Wayne co-founded Fusion Partners, a hedge fund management firm. He then split from his partner some years later to rename and rebuild the firm as Cobalt Capital Management. Wayne received an MBA from Stanford’s Wharton School of Business, and he is married with two children.
•Michael Cooperman, also a son of Leon Cooperman, is one of the trustees of the Leon and Toby Cooperman Family Foundation. He is also an education manager for Napa Valley Vinters. Michael spends much of his time with his family in Bangor, Maine far from the spotlight.
•Spencer Robertson is the son of Julian Robertson, the former hedge fund magnate of the Tiger Fund. Spencer is the founder of the highly controversial PAVE charter school, which is located in Red Hook, Brooklyn. Spencer has been working in education since his undergraduate days at Duke University, receiving his MBA from Stanford. Spencer has also worked for his father at Tiger Fund before his father retired.
•Brett Icahn is heir to Icahn Enterprises. Before his billionaire father, hedge fund strategist Carl Icahn, gave him $3 billion of his company’s money to manage, Brett interned at Goldman Sachs and directed art films. Brett is planning to start a new hedge fund company by 2015.
•Andrew Singer is the son of Paul Singer, founder and CEO of Elliott Management Corporation and The Paul E. Singer Foundation. Andrew is openly homosexual and has married his partner. Andrew works on fundraising for the LGBT community, and has convinced his father to fund many of his charitable events. To date Paul Singer has donated more than $10 million to same-sex marriage campaigns, and he and Andrew launched American Unity PAC, and organization to push rights for the LGBT community.
•Nathaniel Simons is the son of Jim Simons–an acclaimed math genius and founder of Renaissance Technologies–who is worth $12 billion. Known to be involved in funding political campaigns, Nathaniel and his wife are the trustees of the Sea Change Foundation. Nathaniel also oversees the Meritage Fund, a branch of Renaissance Technologies.