⬅ # 165 Dang Yanbao|# 167 Donald Newhouse

# 166 Izzy Englander 

$12.2B

Real Time Net Worth
as of 4/12/2024

# 166 Izzy Englander 

$12.2B

Real Time Net Worth
as of 4/12/2024
OccupationFounder, Millennium Management, L.L.C.
Source of WealthHedge Funds
Age75
ResidenceNew York, New York
Marital StatusMarried
Children3
EducationBS, New York University
Age-Adjusted Net Worth$4.44B
Izzy Englander
Izzy Englander
United States
Net worth: $12.2B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Israel Englander, also known as Izzy, was born in 1948 to Polish-Jewish parents in the Crown Heights neighborhood of Brooklyn.
Raised in a religious household, Englander attended yeshiva and began trading stocks during high school.
His father's entire family perished in the Holocaust, and his parents, survivors, immigrated to the United States in 1947 after being deported to a Soviet labor camp.
In 1970, he graduated from New York University with a B.S. in finance, having interned at Oppenheimer & Co. and the New York Stock Exchange during college.
Although he enrolled in New York University's MBA program, he did not complete the degree.

Investment Career

Englander's early career involved trading convertible securities and options at Kaufmann Alsberg.
In 1977, he purchased a seat on the American Stock Exchange when options were listed and formed I.A. Englander & Co., a floor brokerage house.
In 1985, he and partner John Mulheren Jr. launched Jamie Securities Co., which dissolved in 1988 due to negative publicity following Mulheren's legal issues.
In 1989, Englander founded Millennium Management with Ronald Shear, starting with $35 million in seed money, including $5 million from Englander and $2 million from the Belzberg family.
Millennium Management employs investment strategies such as statistical arbitrage, fundamental long-short pairing, merger arbitrage, and convertible arbitrage.
As of 2024, the firm manages $61.1 billion in assets and holds thousands of investment positions, executing over 2 million trades on an average day.
By the end of 2019, Millennium had 2,900 employees across offices in the United States, Europe, and Asia.

Personal Life

Englander is married to Caryl (née Schechter) Englander, and they have three children.
In 2014, he set a record price for a Manhattan co-op by purchasing a duplex apartment on New York City's Park Avenue for $71.3 million.
He owns a house in Atlantic Beach, New York, and in 2022, he acquired a $20 million apartment in Paris, formerly owned by the Bettencourt family, founders of L'Oréal.

Notable Connections

Englander once backed professional gambler Jeff Yass, who started trading on the Philadelphia Stock Exchange in 1981 and later became a billionaire.

How long would it take you to become as rich as Izzy Englander?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Izzy Englander's net worth of $12.2B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 36.27% compared to 8.51% for the S&P 500 benchmark.

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Izzy Englander is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Izzy Englander, Hedge Funds is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey