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Next-Gen Billionaire

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 . . .

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#1 Comment By Dick Swart On August 20, 2008 @ 1:56 pm

Dutch pigdog! I …

I would like to be a lion tamer!

#2 Comment By David Broadband On August 21, 2008 @ 2:10 am

Shame on you. To deride leadership, whether in finance or health and social services merely prefaces your unkind remarks as unworthy the character of a Williams person of note.

Whatever this man’s accomplishments, to address them in such a fashion betrays your interest in your lack of support for proper management and skill.

Life is comprised of the numerous interstitial performances of persons of accomplishment. Give good measure of support to those who have managed to create and remain productive to the benefit of others.

We all live off the benefit of our benefactors. To deny this is to raise the quotient of resentment and rebellion. We are all servants of our existence.

Be the best that you can be.

#3 Comment By frank uible On August 21, 2008 @ 2:17 am

Nonetheless they all put their pants (or panties) on one leg at a time.

#4 Comment By David Broadband On August 21, 2008 @ 2:24 am

What do pants or panties have to do with performance and accomplishment?

Is this statement some egalitarian resentment towards others of disctinction?

Pants and panties are immaterial. Acoomplishment and personal performance is.

We are not all equal and never will be, whether you wear pants or panties.

#5 Comment By JG On August 21, 2008 @ 8:13 am

Wow, Broadband your excessive philosophizing has finally suffocated any sense of humor you may have had. It’s a Monty Python JOKE. Get over yourself.

Whatever anyone’s level of accomplishment, they are people. And whether what they do is an “accomplishment” is a matter of opinion. And whether we are all equal is YOUR opinion. In my opinion, while we have varying levels of “distinction” by some arbitrary measure, we are each equally capable of holding and opinion and expressing it.

If you suddenly don’t like free speech, I’d suggest that EB might not be the most ideal place for you to hang out.

I feel kind of sorry for you that view your life as only “liv[ing] off the benefit of [y]our benefactors.” While understanding my interconnectedness with the others in my life, I do not “live off” of anyone. BTW,the feudal system called, they want their ideology back.

#6 Comment By rory On August 21, 2008 @ 9:24 am

i think broadband is an attempt at satire (you judge whether you find him funny). how narrowminded of you, jg :)

#7 Comment By JG On August 21, 2008 @ 10:10 am

See, I would have thought so except that his comments elsewhere don’t follow through with the satire idea. I’d be thrilled to find out I’m wrong (and happily take the label Rory!).

#8 Comment By Soph Mom On August 21, 2008 @ 10:15 am

I thought that once, Rory. I even implied it in a comment. The response was such as to convince me I had made a mistake.

Email me or W.S. for the gist of that response…and you might change your mind as well.

#9 Comment By Dick Swart On August 21, 2008 @ 11:00 am

I think I get it …”Broadband” is eponymous! A cable conveying a huge quantity of data quickly in an upload to a server. This is what video uploads and downloads depend on.

Unfortunately, the data seems to be written by someone whose definition of writing style depends on using a great number of polysyllabic words to imply deep meaning. Someone should warn him off this style!

Swift is ‘satire’. The Broadband uploads miss the point of incongruity of comparison (eg the classic ‘A Modest Proposal’) on which ‘satire’ turns to be seen as a witty, pithy comment.

I comment only from a stylistic point-of-view. I am sure the opinions expressed in the Broadband communiques do not necessarily reflect the opinions of Ephblog, its staff or management or those of its world-wide affiliates.

#10 Comment By Rory On August 21, 2008 @ 11:12 am

to be fair, i stopped reading broadband’s comments a long time ago.

#11 Comment By Soph Mom On August 21, 2008 @ 11:13 am

It is interesting when ‘real life’ is such that it appears to be satire, even masquerading under that banner in order to say very harmful things. It is a clever and subliminal ploy and one being pulled off quite successfully in this election.

I think the clue for me, is that true satire enjoys being discovered, delights in the game even… rather than getting defensive and reactive when ‘called’ on it.

#12 Comment By frank uible On August 21, 2008 @ 11:47 am

What Churchill said in 1939 about Soviet motives seems to apply to Mr. Broadband.

#13 Comment By Rory On August 21, 2008 @ 11:56 am

alright…I’m 0/2 recently. not a satire, and not a gendered understanding of consent and alcohol (though I could philosophically argue that while legally it doesn’t matter what gender one is, morally it does. but that’s an argument about feminism, gender, sex, and power for another day/thread).

not my finest hour.

#14 Comment By Soph Mom On August 21, 2008 @ 12:04 pm

“not my finest hour”

That’s okay Rory…given what you contribute to this blog, you are more than allowed. Besides, it says something about your willingness to give the benefit of the doubt.

And, ahem…there are many of us here who are way ‘in the lead’ when it comes to amassing ‘unfinest hours’. ;-)

#15 Comment By JG On August 21, 2008 @ 2:33 pm

Aw, Rory I was only poking fun at you. I should remember that everyone else reading this doesn’t know that our entire (many year) friendship is pretty much predicated on teasing one another mercilessly.

For all you readers who don’t know him, Rory is actually a pretty enlightened, progressive, and all around good guy…and wicked smart, too!

We should have that discussion of the morals and gendered nature there – I don’t know that we’d agree, but it would be fun. Hmmm…I see some Dock Street pizza & beer in our near future!

#16 Comment By Rory On August 21, 2008 @ 4:02 pm

mmm…dock street.

if that’s all it takes for some flammenkuche, i’m in….mmm…creme fraiche and bacon on a pizza

#17 Comment By Soph Mom On August 21, 2008 @ 9:37 pm

Yum! Can’t go wrong with bacon and creme fraiche! (But egads (!) is that a legal combination?)

Whatever…if I can come too I’ll bring plenty of ‘whine’. It’s my specialty!

Hey, Frank, why don’t you come along and bring the ‘gripe-a’…
…um, I mean …. grappa!

Dick, perhaps some ‘punch’…(line)?

Ken? (He’s busy these days so maybe he can bring the ….’absent’…I mean….um…absinthe?)

Anyone else for a potluck? I bet you can all come up with a personal ‘dish’ if you try.


#18 Comment By Soph Mom On August 21, 2008 @ 11:53 pm

C’mon…any suggestions?

I bet PTC could come up with a great ‘local’ specialty…

And hwc…how about some datum..I mean… date, um, bars?

And surely Dave could arrive with something that would be ‘right’ for the party?