Louis Bacon, successful hedge fund manager and
environmentalist, has been named on therichest.org’s list of richest hedge fund
managers.
Louis Bacon’s net worth was estimated to be $1.3 Billion by
Forbes who rank him as #1107 richest Billionaire;#359 richest in the United
States and on their #347 Forbes 400 List
The article explains how Louis Moore Bacon was born in
Raleigh, North Carolina in 1956, to Zachary Bacon Jr. who was the founder of
the real estate company Bacon & Co. and later the leader of Prudential
Financial’s and Merrill Lynch’s real estate efforts in North Carolina.
Following Louis Bacon’s education from Episcopal High School
in Alexandria, Virginia, through to receiving his B.A. in American literature
in 1979, the article notes how Bacon started his career as a clerk at the
specialist firm Walter N. Frank & Co. during the summers of his college
years.
Bacon was awarded the MBA in finance at Columbia Business
School in 1981 and while at Columbia, he honed his craft trading commodities
using a low interest loan he had received.
This experience earned Bacon a role on the sales and trading
program at Bankers Trust before he rejoined to Walter N. Frank & Co. to
work trading currencies.
Bacon then moved to the New York Cotton Exchange and later
as a broker and trader of financial futures at Shearson Lehman Brothers.
He rose to the senior
president for their futures trading division before leaving to found Remington
Trading Partners in 1987.
Using his middle name, Louis Moore Bacon then founded Moore
Capital Management LLC in 1989 and Moore Global Investments a year later in
1990.
In 1991, Louis Bacon had already climbed to 20th
place on the list of Financial World’s Top 100 Wall Street Earners.
In 2007, he purchased the Trinchera Ranch in Costilla
County, Colorado from the Forbes family and pledged to protect it against
development – even going so far as to spend $10m in a legal battle with an
energy companies wanting to install power lines over the protected land.
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