Our hit count seems higher in the last few days. Much of hit seems to be associated with searches for “Chase Coleman.” Why the sudden interest? Perhaps because Coleman, class of 1997, is on Forbes list of next generation billionaires.
Noting that the world’s current crop of billionaires has plenty of money but “not much youth”, the American magazine said the average age of the 1,125 people on Forbes’ list of the world’s wealthiest is 61.
“…It’s impossible to predict exactly who will replace them, but don’t bet against the following people. All are young, extraordinarily successful and have ambitious plans for the future,” the magazine said in an accompanying article published in its online edition.
Forbes itself notes:
Hedge fund manager Chase Coleman’s age, 33, belies his exceptional ability to manage money. His Tiger Global fund reportedly returned over 70% after fees last year, a performance over six times better than the hedge fund average.
Is Coleman really a billionaire? Tough to tell, but you can be sure that the Alumni Office is curious.
Here is more from Forbes.
This direct descendant of early New York Gov. Peter Stuyvesant learned from one of the best. Coleman worked under billionaire Julian Robertson Jr. at Tiger Management. Robertson has an astounding track record of training rich-listers. Other “Tiger Cubs” already on our list of the world’s richest include Lee Ainslie III and Stephen Mandel. Coleman is well on his way to joining them. According to Bloomberg, Coleman’s fund, Tiger Global, returned over 70% after fees last year. Compare that with the 11% return that hedge funds averaged last year. Coleman’s amazing performance means a big paycheck: One estimate has him taking home up to $400 million.
But you need to share that money with your partners/employees, pay your taxes, and so on. Pretty soon, you’re struggling just to get by . . .