Last Updated on 8 January, 2022 by Samuelsson
So many negative things happened during the 1987 stock market crash, but one man became very popular and super-rich for his predictions. He would go on to be known globally as Hedge fund manager Paul Tudor Jones II.
Born on the 28th of September, 1954 in Memphis, Tennessee, Paul Tudor Jones is an American billionaire who got his career jumpstart at his dad’s small business paper — the Memphis Daily News — where he wrote for under the pseudonym Paul Eagle in high school and college.
During his early years, he attended the Presbyterian Day School, an all-boys elementary school, where he graduated before attending Memphis University School for high school. His university education was at the University of Virginia, where he emerged the welterweight boxing champion. During this period, he held the position of Sigma Alpha Epsilon fraternity president. Thanks to his writing job at his father’s business paper, he was able to pay his tuition throughout the university period until 1976, when he bagged a bachelor’s degree in economics from the University of Virginia.
After turning down his Harvard Business School Admission in the 1980s, Jones launched his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut. The corporation has grown exponentially, reportedly managing over $9 billion in assets. In 1988, Jones was among the founders of the Robin Hood Foundation. The foundation was aimed at reducing poverty in New York City.
Interestingly the Robin Hood Foundation is just one of Jones’ many philanthropic moves. He had adopted a sixth-grade class in 1986 in Bedford–Stuyvesant, Brooklyn at an underperforming public school by guaranteeing college scholarships to students who graduated from high school. This was later known as the “Bedford Stuyvesant I Have A Dream Foundation.”
Paul Tudor Jones’ alma mater was not left out in his show of philanthropy. He has made many financial contributions to the University of Virginia, where he graduated. On one occasion, he gave them $44 million to build a sports and concert arena which the university named after his father — John Paul Jones.
Jones got married in 1988 to Sonia Klein, an Australian yoga entrepreneur who is based in New York. The wedding took place in Memphis, and the family moved to Greenwich, Connecticut, in the early 1990s. They have four children — Caroline, Dorothy, Chrissy, and Jack. Jones has encouraged his three daughters to go into macro trading.
In November 2019, Jones was reportedly worth about US$5.3 billion by Forbes Magazine. This report placed him in the position of the 343rd richest person on the Forbes 400 and the 7th highest-earning hedge fund manager.
Jones is well experienced in the financial markets to date. In May, he caught the crypto community’s attention when he wrote that bitcoin was an excellent inflation hedge and revealed that he put about 2% of his portfolio in the cryptocurrency. He is also known for his macro trades, particularly his bets on interest rates and currencies. Little wonder he is considered to be one of the best macroeconomic traders that ever existed.
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