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Grizzly Bulls’ Billionaires Index

⬅ # 482 Cho Jung-ho|# 484 Rakesh Gangwal ➡

# 483 Paul Singer 

$6.14B

Real Time Net Worth
as of 7/25/2024

# 483 Paul Singer 

$6.14B

Real Time Net Worth
as of 7/25/2024
OccupationFounder, Elliott Management
Source of WealthHedge Funds
Age79
ResidenceNew York, New York
Marital StatusIn Relationship
Children2
EducationJD, Harvard University; BS, University of Rochester
Age-Adjusted Net Worth$1.70B
Paul Singer
Paul Singer
United States
Net worth: $6.14B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Paul Elliott Singer was born on August 22, 1944, in Teaneck, New Jersey, into a Jewish family.
He obtained his B.S. in psychology from the University of Rochester in 1966.
In 1969, Singer earned a J.D. from Harvard Law School.
After completing his education, he worked as an attorney in the real estate division of the investment bank Donaldson, Lufkin & Jenrette starting in 1974.
Singer grew up as one of three children of a Manhattan pharmacist and a homemaker.
His upbringing in Teaneck, New Jersey, shaped his early years.

Career

Singer founded Elliott Associates L.P. in 1977 with $1.3 million from friends and family, utilizing a convertible arbitrage strategy.
Elliott Management Corporation, which Singer leads, has become a major player in activist investing and private equity.
The hedge fund has been involved in significant restructurings post-Financial crisis of 2007–2008, including the Delphi Automotive maneuver.
Singer's involvement in activist investing includes pushing for changes in companies like Citrix Systems.
Elliott Management has been engaged in numerous campaigns aimed at tech companies.
In 2018, Elliott Management acquired Italian football club AC Milan.

Philanthropy

Singer is a signatory of The Giving Pledge, committing to donating more than half of his wealth during his lifetime.
He established the Paul E. Singer Family Foundation, supporting various charitable causes including education, music, and veterans' services.
His philanthropic endeavors extend to Jewish and pro-Israel causes, as well as LGBTQ rights.
Singer funded programs like the Harvard Graduate School of Education Singer Prize for Excellence in Secondary Teaching and Passages Israel, a program for college students to visit Israel.
He has donated significantly to organizations like the Manhattan Institute for Policy Research and the Foundation for Defense of Democracies.
After the Pittsburgh synagogue shooting, his foundation pledged $1 million to upgrade security at Jewish institutions in New York.

Political Activity

Singer is actively involved in Republican Party politics and has supported candidates and causes aligned with his views.
He has donated millions to various political efforts, including the campaigns of George W. Bush, Rudy Giuliani, and Marco Rubio.
Singer has been a strong advocate for LGBTQ rights within the Republican Party and has supported initiatives like the American Unity PAC.
He has also funded organizations promoting strong military and support for Israel.
Despite his Republican affiliations, Singer has criticized certain GOP policies, such as aspects of the Dodd-Frank Act.
His political contributions have stirred controversy, particularly his opposition to Donald Trump's presidential campaign in 2016.

Business and Investment Model

Singer's investment approach has focused on distressed assets, earning him a reputation for tenacity and strong returns.
His hedge fund Elliott Management has been influential in shaping outcomes of major debt restructurings, including Greece's debt crisis.
Singer is known for his involvement in sovereign debt disputes, purchasing distressed debt and pursuing full repayment through legal means.
Elliott Management's varied portfolio includes activism in technology companies and private equity ventures.
He has emphasized the importance of holding indebted companies and nations accountable for their debts, advocating for market discipline.
Singer's approach has been both lauded for its effectiveness and criticized as overly aggressive, earning him the moniker 'vulture capitalist.'

Personal Life

Singer resides in New York City's Upper West Side and owns a house in Aspen, Colorado.
He is a family man, with two sons named Andrew and Gordon.
Singer is a music enthusiast and enjoys playing classical piano, often performing with his family band.
His support for gay rights intensified after his son Andrew came out as gay, leading him to become a vocal advocate for LGBTQ equality within conservative circles.
He holds an honorary doctorate from the University of Rochester, conferred in 2017.

How long would it take you to become as rich as Paul Singer?

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Paul Singer's net worth of $6.14B.

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 52.22% compared to 16.62% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Paul Singer 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 Paul Singer, 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