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Michael H. Steinhardt (born December 7, 1940) is an American billionaire hedge fund manager, philanthropist, and former antiquities collector. In 1967, he founded a hedge fund, Steinhardt Partners which he ran until he closed it in 1995. After a hiatus from work, he returned to head
WisdomTree Investments WisdomTree, Inc. is a global exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager with headquarters in New York. WisdomTree launched its first ETFs in June 2006, and became one of the major ETF providers in the ...
in 2004. In January 2014 he was on the cover of ''Forbes Magazine'', referred to as "
Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...
's greatest trader." ''Forbes'' reported his
net worth Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities. Financial assets minus outstanding liabilities equal net financial assets, so net w ...
at $1.1 billion as of October 2018.


Early life

Steinhardt earned a bachelor's degree at the
Wharton School The Wharton School ( ) is the business school of the University of Pennsylvania, a private Ivy League research university in Philadelphia. Established in 1881 through a donation from Joseph Wharton, a co-founder of Bethlehem Steel, the Wharton ...
of the
University of Pennsylvania The University of Pennsylvania (Penn or UPenn) is a Private university, private Ivy League research university in Philadelphia, Pennsylvania, United States. One of nine colonial colleges, it was chartered in 1755 through the efforts of f ...
, graduating in 1960. He started his career working for the mutual fund Calvin Bullock and the brokerage firm Loeb, Rhoades & Co. (the precursor to Shearson Loeb Rhoades). Steinhardt's father, Sol Frank "Red" Steinhardt, was the fence of the Genovese Crime Family, which also included Charles “Lucky” Luciano, Frank Costello, Bugsy Siegel, Meyer Lansky (“Hyman Roth” in ''Godfather II''), and Vincent “Jimmy Blue Eyes” Alo. Michael Steinhardt's father was his first investment client, giving his son envelopes stuffed with cash to put in the stock market giving him seed money to begin his investment career.


Investment career


Early career

Working as an analyst at Loeb, Rhoades & Co., Steinhardt followed the conglomerate industry, which included companies such as Automatic Sprinkler (now defunct), City Investing (also defunct), and the best-known conglomerate of its day,
Gulf+Western Gulf and Western Industries, Inc. (stylized as Gulf+Western) was an American conglomerate. The company originally focused on manufacturing and resource extraction, but it began purchasing a number of entertainment companies beginning in 1966 ...
(now part of Viacom and Viacom's spinoff CBS).


Steinhardt Partners

In 1967, using earnings from his investments, Steinhardt founded the hedge fund Steinhardt, Fine, and Berkowitz (later Steinhardt Partners) with co-investors
William Salomon William Salomon (1914–2014) was an American businessman who served as managing partner of Salomon Brothers. Biography Salomon was born to a Jewish family in New York City, the son of Percy Salomon who co-founded Salomon Brothers with his broth ...
, former managing partner of
Salomon Brothers Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York City. It was one of the five List of investment banks, largest investment banking enterprises in the United States and a very profitabl ...
and Jack Nash, founder of Odyssey Partners. Between 1967 and 1995, Steinhardt Partners averaged an annualized return for its clients of 24.5%, after a 1% management fee and a "performance fee" of 15% (early in his career, later 20%) of all annual gains, realized and unrealized, nearly triple the annualized performance of the
S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...
Index over the same timeframe. After decades of successfully managing the fund, Steinhardt and his firm were investigated for allegedly trying to manipulate the short-term
Treasury Note United States Treasury securities, also called Treasuries or Treasurys, are government bond, government debt instruments issued by the United States Department of the Treasury to finance government spending as a supplement to taxation. Sinc ...
market in the early 1990s. He personally paid 75% of a total fine of $70 million as part of settlement with the U.S.
Securities and Exchange Commission The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...
and
Department of Justice A justice ministry, ministry of justice, or department of justice, is a ministry or other government agency in charge of the administration of justice. The ministry or department is often headed by a minister of justice (minister for justice in a ...
. His firm made $600 million on the Treasury positions. In his book, ''No Bull'', Steinhardt said he did nothing wrong, but merely settled the case in order to "move on." His fund lost 1/3 of its value in the 1994 bond market crisis. In 1995, after finishing up 25%, decided to close his fund, stating, "I thought there must be something more virtuous, more ennobling to do with one's life than make rich people richer," before returning to work in 2004 to head
WisdomTree Investments WisdomTree, Inc. is a global exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager with headquarters in New York. WisdomTree launched its first ETFs in June 2006, and became one of the major ETF providers in the ...
, a fund with nearly US$64 billion in
assets under management In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...
. The hedge fund distributed all monies to its limited partners at the end of 1995.


WisdomTree Investments

In 2004, Steinhardt came out of retirement to work for Index Development Partners, Inc., now known as
WisdomTree Investments WisdomTree, Inc. is a global exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager with headquarters in New York. WisdomTree launched its first ETFs in June 2006, and became one of the major ETF providers in the ...
. He is chairman of WisdomTree, which offers dividend and earnings-based
index fund An index fund (also index tracker) is a mutual fund or exchange-traded fund (ETF) designed to follow certain preset rules so that it can replicate the performance of a specified basket of underlying investments. The main advantage of index fun ...
s rather than traditional index funds based on
market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...
. As of July 2018, WisdomTree had $41.2 billion under management. During the fall of 2007 and 2008, WisdomTree's growth stagnated, as the stock market, especially the financial sector, in which WisdomTree's dividend-based funds are overweighted, tanked, as did WisdomTree's stock. However, as the WisdomTree funds tended to outperform their "bogies," asset growth resumed its earlier pace and its stock price appreciated accordingly.


Wealth and philanthropy

''
Forbes Magazine ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The c ...
'' reported Steinhardt's
net worth Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities. Financial assets minus outstanding liabilities equal net financial assets, so net w ...
at US$1.1 billion as of October 2018. The Steinhardt School of Culture, Education and Human Development at
New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...
bears his name in recognition of two $10 million donations. After 2018 sexual harassment allegations against Steinhardt, the student government at the school called for removal of the philanthropist’s name; a call which was renewed after his 2021 deal with the Manhattan District Attorney about Steinhardt's 180 stolen antiquities. In the 1990s, Steinhardt bought and donated Steeple Jason Island and Grand Jason Island in the
Falkland Islands The Falkland Islands (; ), commonly referred to as The Falklands, is an archipelago in the South Atlantic Ocean on the Patagonian Shelf. The principal islands are about east of South America's southern Patagonian coast and from Cape Dub ...
to the
Wildlife Conservation Society The Wildlife Conservation Society (WCS) is a global 501(c)(3) organization, 501(c)(3) non-governmental organization, headquartered at the Bronx Zoo in New York City, with a mission to save "wildlife and wild places across the globe". Founded in ...
(WCS), along with US$425,000 for a research station to be named after himself and his wife. Steinhardt invested in baseball teams, owning part of the
Miami Marlins The Miami Marlins are an American professional baseball team based in Miami. The Marlins compete in Major League Baseball (MLB) as a member club of the National League (baseball), National League (NL) National League East, East Division. The ...
and the
Los Angeles Dodgers The Los Angeles Dodgers are an American professional baseball team based in Los Angeles. The Dodgers compete in Major League Baseball (MLB) as a member club of the National League (baseball), National League (NL) National League West, West Div ...
. Steinhardt is the past chairman of the
Democratic Leadership Council The Democratic Leadership Council (DLC) was a non-profit 501(c)(4) corporation that was active from 1985 to 2011. Founded and directed by Al From, it argued that the United States Democratic Party should shift away from the leftward turn it had ...
and a board member of the
Foundation for Defense of Democracies The Foundation for Defense of Democracies (FDD) is a Neoconservatism, neoconservative 501(c)(3) organization, 501(c)(3) non-profit think tank based in Washington, D.C., United States. It has also been described as a pro-Israel, anti-Iran lobby gr ...
, to which he donated $250,000 in 2002.


Jewish causes

Steinhardt is chairman of the board at The Steinhardt Foundation for Jewish Life and
Taglit-Birthright Israel Taglit-Birthright Israel (), also known as Birthright Israel or simply Birthright, is a free ten-day heritage trip to Israel, Jerusalem, and the Golan Heights for young adults of Jewish heritage between the ages of 18 and 26. The program is spo ...
. He also makes public appearances, speaking with young Jewish children through organizations such as Ezra USA and RAJE. He has been an active
philanthropist Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material ...
, donating over $125 million to Jewish causes. In 1999, he and
Charles Bronfman Charles Bronfman, (born June 27, 1931) is a Canadian-American businessman and philanthropist and is a member of the Canadian Jewish Bronfman family. With an estimated net worth of $2.5 billion in 2023, Bronfman was ranked by ''Forbes'' as the ...
co-founded
Taglit-Birthright Israel Taglit-Birthright Israel (), also known as Birthright Israel or simply Birthright, is a free ten-day heritage trip to Israel, Jerusalem, and the Golan Heights for young adults of Jewish heritage between the ages of 18 and 26. The program is spo ...
, which sends young Jews aged 18–26 on a 10-day trip to Israel without charge. In 2009, Steinhardt gave the American Hebrew Academy $5 million. The American Hebrew Academy released an advertisement featuring his endorsement. Steinhardt has founded a network of Hebrew-language charter schools, which are secular and open to both Jews and non-Jews. He has said "these schools teach Hebrew in a way that is demonstrably superior to Jewish day schools". Steinhardt is part of the "Mega Group" (also known as the
Study Group A study group is a small group of people who regularly meet to discuss shared fields of study. These groups can be found in a high school or college/university setting, within companies, occasionally primary/junior school and sometimes middle sc ...
) – a loosely organized club of 20 of the most wealthy and influential Jewish businessmen. The "Mega Group" was formed by Leslie Wexner, chairman of Limited Inc. and
Charles Charles is a masculine given name predominantly found in English language, English and French language, French speaking countries. It is from the French form ''Charles'' of the Proto-Germanic, Proto-Germanic name (in runic alphabet) or ''* ...
and
Edgar Bronfman Sr. Edgar Miles Bronfman (June 20, 1929 – December 21, 2013) was a Canadian-American businessman. He worked for his family's distilled beverage firm, Seagram, eventually becoming president, treasurer and CEO. As president of the World Jewish Congr ...
, chairmen of
Seagram The Seagram Company Ltd. (which trade name, traded as Seagram's) was a Canadian multinational beverage and during the last few years of its existence, entertainment Conglomerate (company), conglomerate formerly headquartered in Montreal, Quebec. ...
. Steinhardt is a strong supporter of the
State of Israel Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...
, which he regards as the "Jewish miracle of the 20th century". He views Israel as "the most moral state on this planet", and in a 2017 interview said "The more one understands about Israel, the more comfortable one becomes with the politics of the Israeli government."Ben Sales
Michael Steinhardt thinks American Jews need to stop focusing on religion
''Jewish Telegraphic Agency''; June 9, 2017.
In April 2017, he made history after being selected as one of two diaspora Jews to light an official torch at the
State of Israel Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...
Independence Day
Torch-lighting Ceremony (Israel) Torch-lighting ceremony () is the official ceremony that marks the closure of the Yom Hazikaron commemorations and the opening of the Independence Day (Israel), Independence Day celebrations in Israel. The Ceremony is held annually at the burial ...
as a symbol of "Jewish unity" for contributions as the co-founder of
Taglit-Birthright Israel Taglit-Birthright Israel (), also known as Birthright Israel or simply Birthright, is a free ten-day heritage trip to Israel, Jerusalem, and the Golan Heights for young adults of Jewish heritage between the ages of 18 and 26. The program is spo ...
. Steinhardt served as Chairman of the Board of Tel Aviv University, where he received an honorary doctorate in 2011, and endowed the Steinhardt Museum of Natural History in Ramat Aviv.


Publishing

In 2001, Steinhardt made his foray into publishing. He, along with several other investors, including
Conrad Black Conrad Moffat Black, Baron Black of Crossharbour (born 25 August 1944), is a Canadian-British writer and former politician, Publishing, newspaper publisher, Investor, financier, and Fraudster, convicted fraudster. Black's father was businessma ...
, founded the ''
New York Sun ''The New York Sun'' is an American conservative news website and former newspaper based in Manhattan, New York. From 2009 to 2021, it operated as an (occasional and erratic) online-only publisher of political and economic opinion pieces, as we ...
'', a niche New York City newspaper best known for its pro-Israel support and
neo-conservative Neoconservatism (colloquially neocon) is a political movement which began in the United States during the 1960s among liberal hawks who became disenchanted with the increasingly pacifist Democratic Party (United States), Democratic Party alo ...
outlook. Steinhardt wrote a letter to President
Bill Clinton William Jefferson Clinton (né Blythe III; born August 19, 1946) is an American politician and lawyer who was the 42nd president of the United States from 1993 to 2001. A member of the Democratic Party (United States), Democratic Party, ...
advocating the pardon of
Marc Rich Marc Rich (born Marcell David Reich; December 18, 1934 – June 26, 2013) was an international commodity, commodities Trader (finance), trader, financier, and businessman. He founded the commodities company Glencore, and was later indicted in the ...
, calling him "my friend...who has been punished enough." On January 20, 2001, Clinton's last day in office, Rich was pardoned. Steinhardt was an early supporter of the possible presidential candidacy of
Michael Bloomberg Michael Rubens Bloomberg (born February 14, 1942) is an American businessman and politician. He is the majority owner and co-founder of Bloomberg L.P., and was its CEO from 1981 to 2001 and again from 2014 to 2023. He served as the 108th mayo ...
in 2008.


Sexual harassment allegations

On September 12, 2018, ''
The Jewish Week ''New York Jewish Week'' (formerly ''The Jewish Week'') is a weekly independent community newspaper targeted towards the Jewish community of the metropolitan New York City area. History In March 2016, ''The Jewish Week'' announced its partners ...
'' reported that
Hillel International Hillel: The Foundation for Jewish Campus Life, alternatively Hillel International or simply Hillel, is the largest Jewish student organization in the world. Hillel brands itself as a safe space for Jewish students and events aimed at facilitati ...
was investigating Steinhardt for "inappropriate sexual remarks" to two female employees of one of the organizations he supports. ''The Jewish Week'' story quoted "sources close to the investigation" as saying that since, 2015, when the first complaint by a female employee occurred, it has been a "practice" within the organization for no female employee to have meetings with Steinhardt alone. The second woman making allegations received a written apology from Steinhardt, dated August 23, 2011, acknowledging his inappropriate comments made toward her and two male colleagues at a meeting the year before. The report noted that Hillel had "quietly" removed his name from the board of governors listed on their website while the organization was investigating the claims. Hillel made an official statement that the complaints about sexual harassment by its donors were justified. Steinhardt stated in response to the findings "If I had been told immediately about concerns regarding anything I said at the time, I would have apologized immediately. I only recently learned about this investigation when Hillel called me about comments I made several years ago. I am sorry and deeply regret causing any embarrassment, discomfort or pain, which was never my intention." As of March 2019, six women had come forward alleging that Steinhardt had made unwanted sexual requests of them.


Private antiquities collection and lifetime ban from collecting artifacts

Steinhardt is an art collector, especially of antiquities. A special exhibition, "Ancient Art of the
Cyclades The CYCLADES computer network () was a French research network created in the early 1970s. It was one of the pioneering networks experimenting with the concept of packet switching and, unlike the ARPANET, was explicitly designed to facilitate i ...
", held at the Katonah Museum of Art included some pieces owned by him. He sat on the American advisory board of
Christie's Christie's is a British auction house founded in 1766 by James Christie (auctioneer), James Christie. Its main premises are on King Street, St James's in London, and it has additional salerooms in New York, Paris, Hong Kong, Milan, Geneva, Shan ...
, the art & antiques auction house. In November 2014,
Christie's Christie's is a British auction house founded in 1766 by James Christie (auctioneer), James Christie. Its main premises are on King Street, St James's in London, and it has additional salerooms in New York, Paris, Hong Kong, Milan, Geneva, Shan ...
had to withdraw a prehistoric sculpture from Sardinia, valued at $800,000-$1.2m, put on auction by Steinhardt and previously put on sale by the notorious and convicted antiquities dealer Giacomo Medici. In January 2018, investigators raided Steinhardt's New York City apartment and seized a large amount of stolen antiquities which had been illegally purchased by Steinhardt. In December 2021, after a four-year multinational investigation examining his "acquisition, possession and sale of more than 1,000 antiquities since at least 1987", Steinhardt reached an agreement with the
New York County District Attorney The New York County District Attorney, also known as the Manhattan District Attorney, is the elected district attorney for New York County, New York. The office is responsible for the prosecution of violations of New York state laws (federal l ...
to relinquish 180 items with an estimated value of $70 million, in exchange for the dismissal of a grand jury investigation into his collection. As part of the deal, Steinhardt was being permanently banned from acquiring new pieces. Steinhardt kept the remaining pieces that he legally purchased. The seized antiquities were slated to be returned to their proper owners in much of the
Eastern Mediterranean The Eastern Mediterranean is a loosely delimited region comprising the easternmost portion of the Mediterranean Sea, and well as the adjoining land—often defined as the countries around the Levantine Sea. It includes the southern half of Turkey ...
region, as well as Bulgaria and Iraq. In a press release, District Attorney Cyrus Vance Jr. said, "For decades, Michael Steinhardt displayed a rapacious appetite for plundered artifacts without concern for the legality of his actions, the legitimacy of the pieces he bought and sold, or the grievous cultural damage he wrought across the globe." The Grand Jury Investigation Statement of Facts stated that Steinhart acquired stolen antiquiries from Giacomo Medici, Giovanni Franco Becchina, Edoardo Almagià, Robin Symes, Robert Hecht, Edward and Samuel Merrin, Robert Haber, Eugene Alexander, Fritz and Harry Bürki, Gil Chaya, Rafi Brown, Michael Ward and others. A lawyer for Steinhardt said many of the dealers from whom he bought the artifacts "made specific representations as to the dealers’ lawful title to the items, and to their alleged provenance."


''Heliodorus Stele''

In 2007 Steinhardt lent
Israel Museum The Israel Museum (, ''Muze'on Yisrael'', ) is an Art museum, art and archaeology museum in Jerusalem. It was established in 1965 as Israel's largest and foremost cultural institution, and one of the world's leading Encyclopedic museum, encyclopa ...
the "Heliodorus Stele",
commons
which he had recently acquired. The
stele A stele ( ) or stela ( )The plural in English is sometimes stelai ( ) based on direct transliteration of the Greek, sometimes stelae or stelæ ( ) based on the inflection of Greek nouns in Latin, and sometimes anglicized to steles ( ) or stela ...
was 2,200-year-old
Greek Greek may refer to: Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group *Greek language, a branch of the Indo-European language family **Proto-Greek language, the assumed last common ancestor of all kno ...
text inscribed in
limestone Limestone is a type of carbonate rock, carbonate sedimentary rock which is the main source of the material Lime (material), lime. It is composed mostly of the minerals calcite and aragonite, which are different Polymorphism (materials science) ...
. However, an expert soon noted that two pieces excavated from a cave in
Maresha Maresha was an Iron Age city mentioned in the Hebrew Bible, whose remains have been excavated at Tell Sandahanna (Arabic name), an Tell (archaeology), archaeological mound or 'tell' renamed after its identification to Tel Maresha (). The ancient ...
fit the Heliodorus Stele "like a jigsaw puzzle", and hence concluded that the stele came from the same cave. In December 2021, the "Heliodorus Stele" was among the 180 artifacts Steinhardt agreed to surrender to the Manhattan District Attorney’s office. As of January 7, 2022, the "Heliodorus Stele" was still on display in the Israel Museum, together with 2
Neolithic The Neolithic or New Stone Age (from Ancient Greek, Greek 'new' and 'stone') is an archaeological period, the final division of the Stone Age in Mesopotamia, Asia, Europe and Africa (c. 10,000 BCE to c. 2,000 BCE). It saw the Neolithic Revo ...
masks.


''Guennol Stargazer''

Steinhardt acquired the ''Guennol Stargazer'' in 1993. The marble idol depicts a nude human figure and is estimated to be 6,000 years old. After attempting to sell the idol at auction in 2017, the Turkish government sued to halt the sale. The sale occurred, though the buyer later backed out. A bench trial in 2021 determined that Turkey had waited too long to attempt to repatriate the idol, and that it would remain in the United States.


Personal life

In 1967, Steinhardt met his future wife, Judy, in a car pool he organized. During one of the carpools into New York City, he mentioned the name of the grain elevator company Colorado Milling and Grain Elevator. Judy mentioned the company to her father who invested in the company and made a substantial profit after Colorado Milling was acquired by Great Western Sugar in 1968; the merged company was renamed Great Western United. Judy is the chairwoman of
New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...
's Institute of Fine Arts and of the American Friends of the
Israel Museum The Israel Museum (, ''Muze'on Yisrael'', ) is an Art museum, art and archaeology museum in Jerusalem. It was established in 1965 as Israel's largest and foremost cultural institution, and one of the world's leading Encyclopedic museum, encyclopa ...
. They have three children. His daughter, Sara Berman, a former journalist and parenting columnist for The ''
New York Sun ''The New York Sun'' is an American conservative news website and former newspaper based in Manhattan, New York. From 2009 to 2021, it operated as an (occasional and erratic) online-only publisher of political and economic opinion pieces, as we ...
'', is the president of the Hebrew Language Academy Charter School in
Brooklyn Brooklyn is a Boroughs of New York City, borough of New York City located at the westernmost end of Long Island in the New York (state), State of New York. Formerly an independent city, the borough is coextensive with Kings County, one of twelv ...
. In Sebastian Mallaby's 2010 book entitled '' More Money Than God: Hedge Funds and the Making of a New Elite'', he dedicated a chapter to Steinhardt. He described Steinhardt as a "lover of botany and a collector of exotic fauna," living in his retirement "on his country estate an hour's drive north of New York City." Mallaby included a photo of Steinhardt "dancing on his estate opposite... an elegant blue crane . . . that had taken to courting him with a graceful gavotte." In 2001, Steinhardt published an autobiography: ''No Bull: My Life in and out of Markets''. In this book, he addressed for the first time the question of his father, Sol Frank Steinhardt, who also went by the moniker "Red McGee." "Red" Steinhardt was convicted in 1958 on two counts of buying and selling stolen jewelry, and was sentenced to serve two 5-to-10 year terms, to run consecutively, in the New York State prison system. In his book, Steinhardt describes how his father bankrolled his early forays into the stock market by giving him envelopes stuffed with $10,000 in cash and sometimes much more than that. The book also suggests that Steinhardt's education at the
Wharton School The Wharton School ( ) is the business school of the University of Pennsylvania, a private Ivy League research university in Philadelphia. Established in 1881 through a donation from Joseph Wharton, a co-founder of Bethlehem Steel, the Wharton ...
may have been paid for with illicit funds. In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame along with Julian Roberston, Kenneth Griffin, Steven A. Cohen, and others.


See also

* List of University of Pennsylvania people


References


Further reading

* *


External links

*
Curated interview with Michael Steinhardt from Market WizardsThe Steinhardt Foundation for Jewish Life
official site *
Steinhardt Judaica Collection
{{DEFAULTSORT:Steinhardt, Michael 1940 births Living people American finance and investment writers American financial analysts American financiers American hedge fund managers American investors American money managers American newspaper publishers (people) American activists American political fundraisers American stock traders American Zionists Businesspeople from New York City American philanthropists Lafayette High School (New York City) alumni New York University people Stock and commodity market managers Wharton School alumni Writers from Brooklyn Journalists from New York City Philanthropists from New York City American billionaires Archaeological theft