Michael Burry’s Net Worth
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Michael Burry’s Net Worth
Friends Michael Burry’s net worth is estimated at 300 million USD. Friends Michael James Burry, aka Michael Burry, was born on June 19, 1971, in San Jose, California.
Friends, his struggle began at the age of two when he lost his left eye to retinoblastoma. Friends, this is a rare form of cancer that develops rapidly from immature retinal cells, friends, after that incident his left eye was replaced with an artificial eye.
The Early Life and Education of Michael Burry
Friends Michael Burry grew up in San Jose, California, and attended Santa Teresa High School. Friends, then he took admitted to the University of California which is in Los Angeles, friends he studied economics and his pre-medical studies there. After this, he officially earned his Doctor of Doctor (MD) degree from Vanderbilt University School of Medicine, which is located in Nashville, Tennessee. Friends Finance has always been his main interest, when he was off duty, he started working as a part-time financial investor.
Michael Burry’s Investing Career
Friends Michael was working as a doctor in the Department of Pathology and Neurology at Stanford Hospital. Soon after, he left his medical career behind to become a full-time financial investor and create his own hedge fund. By the time he left his job, Michael Burry was a well-known figure in value investing. Friends, he always chose the right stock and was making a profit. Friends Michael Burry’s success with his stock picks attracted the interest of companies such as Vanguard, and White Mountain Insurance Group, and prominent investors such as Joel Greenblatt.
Currently, Michael Burry is an angel investor, a hedge fund manager, and a doctor.
300 Million Net Worth Building
Friends In November 2000, Michael started his own hedge fund Scion Capital, using his personal assets and family support for funding. Friends, soon after the launch of his company, he started making rapid profits for his investors.
Friends, in 2001, Scion Capital’s average return on investment was around 55%. The overall market share was up 28.69% in 2003, guys but it was the wise choice of Michael Burry that beat the overall market growth and that being said, his overall return of the year was 50%.
He was already managing USD 600 million in Scion Capital by the end of 2004. Friends your knowledge always pays you!
Between November 2000 and June 2008, Michael’s Scion Capital earned an overall return of 489.34%.
Burry made a personal profit of US$100 million, and his investors also earned a profit of US$700 million for their investment in the credit default swap.
Friends In 2008, Michael Burry temporarily closed his company and exhausted all his funds, then he started focusing on his personal investments. Friends, had he not closed his company, his company would have received financial bailout packages from the government of the United States of America during the recession of 2008 and 2009.
Friends Michael Burry reopened his company and this time he changed its name to Scion Asset Management.
Michael Burry’s Personal Life
Burry currently resides in Saratoga, California. Friends, he is married and a father too. Burry’s son has been diagnosed with Asperger’s syndrome, a rare neurodevelopmental disease that makes it difficult for a person with the disease to interact socially and conduct nonverbal communication. Friends Michael Burry believes he himself has Asperger’s syndrome after his son’s diagnosis. Friends Michael Burry used to have a lot of energy looking into people’s eyes as a child, which is why he believes that he also has Asperger’s syndrome.
Guys After suffering from several of these medical conditions, and even after seeing his son suffering from Asperger’s syndrome, Michael stands still and continues to increase his net worth. Friends’ challenges make man perfect because the universe plays with only the best players and a select few. Friends Michael Burry is one of the few who lost his left eye to cancer at the age of only two. Friends, his challenges started at a young age and thus determined the path of his life. Friends, that’s all for today, I will meet you with my next post.