Larry Robbins Net Worth

Larry Robbins Net Worth: The Success Story of a Great Hedge Fund Manager

When it comes to hedge funds, there are few managers who can match the success and prominence of Larry Robbins. Robbins is a financial titan who has built a reputation for generating astronomical returns for his investors. However, with all the success, people are wondering, what is Larry Robbins’ net worth and salary? How did he start? What is his personal life like? In this article, we will delve into these topics and more to help you understand the life and legacy of one of the most successful hedge fund managers in history.

Early Life and Education

Larry Allan Robbins was born on December 12, 1969, in Glenview, Illinois. He attended Glenbrook South High School and went on to study at the University of Pennsylvania’s Wharton School, where he received his undergraduate degree and Wharton MBA.

Larry was exposed to the world of finance from a young age. His father, Irwin Robbins, was an options trader, and his grandfather was a stockbroker. Young Larry learned the language of finance at an early age and grew up fascinated by the stock market. It’s not surprising that he would end up working in finance, particularly hedge funds.

Career

Robbins began his career as an analyst in the mergers and acquisitions department at Gleacher & Company. Later, he gained experience at another financial company, Smith Barney.

In 1999, at the age of 30, Robbins founded his hedge fund, Glenview Capital Management, with approx. $1 million in initial capital. Within a few years, the fund’s assets under management had grown rapidly, and it became one of the most prominent and successful hedge funds in the world.

Robbins has a talent for finding undervalued stocks, and he is known for investing heavily in the healthcare sector. The Glenview Capital Management that Robbins runs invests in everything from biotech stocks to hospital chains. His stock optimizations have resulted in often beating the market by double-digit margins, making him a very wealthy man.

Personal Life

Robbins is married to his college sweetheart, Liz Robbins. The couple has four children and resides in New York after moving from Connecticut. Larry is a family-focused man, devoting much of his personal life to his wife and kids.

Robbins is a philanthropist and has given generously to various charitable causes. He has donated millions of dollars to education and healthcare programs, including a $10 million donation to his alma mater, the Wharton School of the University of Pennsylvania.

Real Estate

As of 2021, Robbins’ net worth is estimated to be between $3.5 to $4 billion. Besides his hedge fund ventures, Larry Robbins has invested in numerous real estate properties in the United States, including an impressive $45 million Florida Mansion on the Palm Beach Islands. He also owns a lovely Newport Beach mansion in California, which he purchased for over $12 million in 2017.

Legacy

Larry Robbins is a financial genius, and his legacy speaks for itself. He has successfully built and maintained one of the most successful hedge funds in history and has made a significant impact in the financial industry. His quick thinking, analysis skills, and leadership have helped propel Glenview Capital to the top of the hedge fund industry.

Even years after his retirement, Robbins will continue to influence the financial industry in which he made his immeasurable impression, continuing to inspire and create a remarkable legacy.

FAQs

What’s Larry Robbins’ current net worth?

Robbins’ current net worth is estimated to be between $3.5 to $4 billion.

What was Larry Robbins’ first job?

Larry Robbins began his career as an analyst in the mergers and acquisitions department at Gleacher & Company.

What makes Larry Robbins successful?

Robbins has a talent for finding undervalued stocks, and he is known for investing heavily in the healthcare sector.

How did Larry Robbins get rich?

Robbins built his wealth by founding his successful hedge fund, Glenview Capital Management, investing in the healthcare sector and providing excellent returns for his investors.

Is Glenview Capital Management still in business?

Yes, Glenview Capital Management is still an active hedge fund.

What is Glenview Capital’s investment philosophy?

Glenview Capital Management is known for its long-term investment philosophy and its focus on undervalued companies in the healthcare, consumer, and technology sectors.

What charities does Larry Robbins support?

Robbins is a philanthropist and has donated millions of dollars to various charitable causes such as education and healthcare programs. He donated $10 million in 2015 to his alma mater, the Wharton School of the University of Pennsylvania.

What are the books Larry Robbins wrote?

Larry Robbins has not written any books. However, he is highly regarded in the financial industry and is often quoted in financial publications.

What are Larry Robbins’ hobbies?

Robbins enjoys playing poker and has taken part in several high-stakes poker games.

What are some of the biggest bets Larry Robbins has made?

One of his most significant positions was in the hospital chain companies, Tenet Healthcare and HCA Holdings, which made him a substantial loss. He has also invested heavily in healthcare providers such as Anthem and Humana.

What are some of the best quotes from Larry Robbins?

“Investing in undervalued companies requires patience and perseverance, but it pays off in the long term.”

“Success is never final,” Robbins says. “You must continue to grow and evolve as an investor to remain successful in the industry.”

What are the principles that guide Larry Robbins?

Robbins is guided by three principles: long-term thinking, integrity, and partnership. He believes in partnering with his investors to navigate the markets’ ups and downs and to create a long-term financial success.

What’s the biggest mistake Larry Robbins has made as an investor?

One of his most significant positions was in the hospital chain companies, Tenet Healthcare and HCA Holdings, which made him a substantial loss.

What’s next for Larry Robbins?

Larry Robbins has announced that he will retire from his hedge fund, Glenview Capital Management, in 2022. He plans to spend more time with his family and continue his philanthropic activities.

What’s Larry Robbins most significant donation to date?

Robbins donated $10 million to his alma mater, the Wharton School of the University of Pennsylvania, to establish a professorship for its new Institute for Digital Innovation in Finance in September 2021.