Here is how Stanley Druckenmiller spends his Net Worth of $4.5 Billion.
Stanley Druckenmiller net worth is dependent on the amount of salary he receives from his career as an American investor. He has managed money in hedge funds for 30 years. He was managing his personal assets through Duquesne Family Office LLC (named after the place where he grew up).
His assets included a family foundation that gave money to the University of Pittsburgh and his alma mater, Duquesne University. The net worth of Stanley Druckenmiller can be estimated from the fact that in 2011 alone Forbes ranked him as having been 26th among the world’s highest-earning hedge fund managers and traders. With a total annual income of $90 million. In 2014 it was estimated at US$2.6 billion according to the annual ranking by Forbes .
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He worked for George Soros between 1988 and 2000 as vice president where he developed Quantum Fund into a multibillion-dollar hedge fund before returning all outside capital and converting it into a family office. Also, he has an estimated net worth of $4.5 billion as of 2012, after giving away $700 million to his foundation.
Stanley’s Education and Birthday
He was born in Pittsburgh , Pennsylvania on September 22, 1945. His father owned a small steel company and raised the family in the suburb of Mount Lebanon , Pennsylvania. He graduated from high school in 1963 and went to the University of Pittsburgh. Here, he received a bachelor’s degree with honors in history in 1967. After that he continued his studies at the University of California at Berkeley where he graduated with MBA degree in 1969 .
Stanley Druckenmiller Wiki & Biography Career
Regardless of being interested in politics since early childhood. Druckenmiller spent many years working in a series of jobs before entering the financial market. After graduation from college, he worked in a steel company owned by his family and taught at Baker County High School in Florida . One year later, he took a job as a trainee in the research department of the investment bank Rothschild Inc. In 1971, Druckenmiller received another MBA degree from the Tepper School of Business at Carnegie Mellon University , after which he began working as an analyst at Pittsburgh National Bank .
In 1979, 32-year-old Stanley Druckenmiller became Vice President and Director of Research for Dreyfus & Company. He stayed here only one year before moving on to New York City to work for Bear Stearns where he eventually became Director of Research.
Stanley Druckenmiller Career in managing money started after he left Bear Stearns. However, it was forced to merge with JPMorgan (with whom he had a previous employment). In 1988, the 28-year-old Stanley Druckenmiller became George Soros’ chief strategist and opened Quantum Fund that year where the total funds under management reached $ 4 billion .
His career as an investor lasted 16 years; then, Stanley moved to England , citing the high taxes on the rich there. During this period, he spent several months each year at his 200-acre farm near Pittsburgh.
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Druckenmiller is currently retired but still manages his family’s portfolio. He closed or handed off most of his old hedge funds in 2000. His current net worth is estimated at $ 4.5 billion with his family office, Duquesne Family Office LLC , managing assets for himself and other wealthy families.
Stanley Druckenmiller Wife & Kids
Stanley Druckenmiller has three children from his first marriage with Jane Little Rock (divorced in 1994). He lives on Sutton Place in Manhattan with his wife since 2010, Laura Francis Galt; the couple met in 2005 through their charity work. She worked as an investment manager before making charitable activities her full-time job .
Stanley Druckenmiller Net Worth
The main source of deep pocketed money of Stanley Druckenmler is Quantum fund. He founded it in 1988 , but his wealthy family office is managing funds of other rich families. His net worth includes $ 4.5 billion by himself and the family office manages an estimated amount of $4-7 billion .
In 1988, the 28-year-old Stanley Druckenmiller became George Soros’ chief strategist and opened Quantum Fund that year where the total funds under management reached $ 4 billion . After working for 16 years as an investor, Stanley moved to England citing high taxes on the rich there. During this period, he spent several months each year at its 200 owned acres near Pittsburgh .