Chase Coleman III explained

Chase Coleman III
Birth Name:Charles Payson Coleman III
Birth Date:1 June 1975
Nationality:American
Alma Mater:Williams College
Occupation:Hedge fund manager
Founder, Tiger Global Management
Children:4

Charles Payson "Chase" Coleman III (born June 1, 1975)[1] is an American billionaire hedge fund manager, and the founder of Tiger Global Management.[2] As of July 2023, his net worth is estimated at US$8.5 billion by Forbes making him the 258th richest person in the world.[3]

Early life and education

Coleman grew up in Glen Head, Long Island.[4] His father, C. Payson Coleman Jr., born in 1950,[5] is a partner at the New York law firm Pillsbury Winthrop Shaw Pittman, and his mother, Kim Coleman, owns an interior design firm.[6]

His grandfather, Charles Payson Coleman, who was managing partner of the New York law firm Davis Polk & Wardwell until his death in 1982, was married to Mimi C. Thompson, a descendant of Peter Stuyvesant, the last Dutch Governor who surrendered New Amsterdam to the British.[7] [8]

Coleman followed his father to both Deerfield Academy and Williams College, where he graduated in 1997, and was co-captain of the lacrosse team.[9]

Investment career

Coleman started his career in 1997, working for Julian Robertson and the latter's hedge fund, Tiger Management. He had grown up with Robertson's son, Spencer, who lived close to Glen Head, in Locust Valley. In 2000, Robertson closed his fund, and entrusted Coleman with over $25 million to manage, making him one of the 30 or more so-called "Tiger Cubs", fund managers who started their fund management careers with Tiger Management. “I’ve known Chase since he was a young boy on Long Island and a good friend of my son Spencer,” [Julian] Robertson said.[10]

Coleman serves as partner of the investment firm he founded, Tiger Global Management. The hedge fund was an early investor in both Facebook and LinkedIn.[11] [12]

On the Forbes 2019 list of the world's billionaires, he was ranked #458 with a net worth of US$4.5 billion.[13] According to Business Insider, he was born into "old money" and has made a lot of "new money" as well.[14] According to Institutional Investor, he made an estimated $2.5 billion in 2020.[15]

Political contributions

In 2012 Coleman donated US$31,000 to the National Republican Senatorial Committee and US$5,000 to Mitt Romney's presidential campaign. He has also donated to Democratic candidates, including $10,000 to New York Governor Andrew Cuomo, $4,950 to Manhattan Borough President Scott Stringer, and $2,700 to New York Senator Charles Schumer.

Personal life

Coleman married Stephanie Ercklentz, the daughter of lawyer Enno Ercklentz Jr. and Mai Harrison and step-daughter of Ridgely W. Harrison Jr., at Bethesda-by-the-Sea, Palm Beach, Florida, in 2005.[16] [17] She is a Wellesley College graduate who worked in investment banking for Merrill Lynch and Marketing and PR for Anne Klein and Vera Wang.[18] Ercklentz was featured in the film Born Rich, a 2003 documentary about growing up in the world's richest families.[19] Her mother, Mai Harrison (née Vilms), is the grand-niece of Jüri Vilms, a member of the Estonian Salvation Committee and leader of the Estonian Independence Movement.[20]

The couple resides in New York City with their 4 children. In 2007, they bought an estate on Meadow Lane in Southampton for $32.5 million.[21] In 2008, they bought the entire sixth floor of a Fifth Avenue building at 66th Street from Veronica Hearst, the daughter-in-law of William Randolph Hearst, for US$36.5 million. In 2016, the Colemans bought the fifth floor for $52 million and infamously allowed party guests to graffiti its walls in 2018 before demolishing its interior to combine it with their existing home.[22] They also own properties in Palm Beach, Florida.

Notes and References

  1. Web site: Meet The 20 Newcomers To The Forbes 400 . Caleb . Melby . forbes.com . October 15, 2016 . October 18, 2016 . https://web.archive.org/web/20161018231325/http://www.forbes.com/sites/calebmelby/2012/09/19/meet-the-20-newcomers-to-the-forbes-400/#1e34e7d6b189 . live .
  2. Web site: de la Merced . Michael . Tiger Global to Revamp Management . May 19, 2015 . The New York Times . October 15, 2016 . April 9, 2016 . https://web.archive.org/web/20160409015439/http://www.nytimes.com/2015/05/19/business/dealbook/tiger-global-to-revamp-management.html . live .
  3. Web site: Forbes profile: Chase Coleman, III . Forbes . 8 October 2021.
  4. News: Effinger . Anthony . Burton . Katherine . Levy . Ari . January 10, 2012 . Top Hedge Fund Returns 45% With Robertson's 36-Year-Old Disciple . Bloomberg Business . January 4, 2016 . January 21, 2016 . https://web.archive.org/web/20160121172402/http://www.bloomberg.com/news/articles/2012-01-10/chase-coleman-channels-ancestor-stuyvesant-with-45-robertson-like-return . live .
  5. Book: David Marcus . Marie T. Finn . Marie T. Hough . Linda D. Estelle . Mindy Toomay . Nancy L. Jellison . Diana L. Richardson . Jeanie J. Clapp . Bernadette B. Grabb . The American Bar, the Canadian Bar, the International Bar . September 8, 2015 . 1986 . R.B. Forster & Associates . 2198. 9780931398124 .
  6. Web site: Tiger Global's Chase Coleman: With This Reclusive Billionaire, Actions Speak Louder Than Words . Ibillionaire.me . June 2, 2014 . September 7, 2015 . https://web.archive.org/web/20150920224754/http://www.ibillionaire.me/post/87625160543/tiger-globals-chase-coleman-with-this-reclusive . 2015-09-20 . dead .
  7. News: Saxon . Wolfgang . October 15, 1996 . Mimi C. Thompson, 69, New York Volunteer and Philanthropist . The New York Times . September 15, 2015 . September 28, 2015 . https://web.archive.org/web/20150928143319/http://www.nytimes.com/1996/10/15/nyregion/mimi-c-thompson-69-new-york-volunteer-and-philanthropist.html . live .
  8. News: Why Photos of Some Hedge-Fund Managers Are So Hard to Find . Anthony . Effinger . Katherine . Burton . Bloomberg Business . January 9, 2015 . September 26, 2015 . October 1, 2015 . https://web.archive.org/web/20151001033502/http://www.bloomberg.com/news/articles/2015-01-09/why-these-photos-of-tiger-cub-coleman-are-among-few-you-ll-find . live .
  9. News: Hema . Parmar . Melissa . Karsh . Sophie . Alexander . June 27, 2019 . Charmed Life . Bloomberg . August 21, 2019 . August 21, 2019 . https://web.archive.org/web/20190821163036/https://www.bloomberg.com/news/features/2019-06-27/tiger-global-s-chase-coleman-has-a-4-6-billion-fortune . live .
  10. Web site: Profile. 27 June 2019 . live. https://web.archive.org/web/20201027174744/https://dealbreaker.com/2019/06/chase-coleman-bloomberg-profile. 2020-10-27.
  11. News: Tiger Global Among Top Spotify Holders With $1.9 Billion Stake . Bloomberg.com . 3 April 2018 . en . 2018-07-14 . 2018-05-06 . https://web.archive.org/web/20180506114717/https://www.bloomberg.com/news/articles/2018-04-03/tiger-global-among-top-spotify-holders-with-1-9-billion-stake . live .
  12. Web site: Wee . Gillian . Tiger Global Said to Put New Private-Equity Fund Into Facebook . Bloomberg.com . en . 23 January 2011 . 2018-07-14 . 2017-11-26 . https://web.archive.org/web/20171126203941/https://www.bloomberg.com/news/articles/2011-01-24/coleman-s-tiger-global-said-to-put-new-private-equity-fund-into-facebook . live .
  13. Web site: The World's Billionaires (2016 ranking): #722 Chase Coleman, III . March 1, 2016 . . January 3, 2017 . January 3, 2017 . https://web.archive.org/web/20170103174013/http://www.forbes.com/profile/chase-coleman-iii/?list=billionaires . live .
  14. News: Chase Coleman. Business Insider. September 15, 2015. September 10, 2015. https://web.archive.org/web/20150910121406/http://www.businessinsider.com/chase-coleman-profile-2012-1. live.
  15. News: Taub. Stephen. The 20th Annual Rich List, the Definitive Ranking of What Hedge Fund Managers Earned in 2020. Institutional Investor. March 3, 2021. February 22, 2021.
  16. News: Hot & Cold . September 8, 2015 . Newyorksocialdiary . January 25, 2005 . August 11, 2015 . https://web.archive.org/web/20150811050315/http://www.newyorksocialdiary.com/legacy/socialdiary/2005/01_25_05/socialdiary01_25_05.php . live .
  17. Web site: Winter 2014. Obituaries. live. https://web.archive.org/web/20180625140255/https://www.college.columbia.edu/cct/archive/winter14/obituaries. June 25, 2018. August 9, 2020. Columbia College Today.
  18. Web site: About. 2021-07-14. Valentines Farm. en-US.
  19. News: Pressler . Jessica . January 5, 2011 . Chase Coleman's Status Update: Rich . . September 15, 2015 . September 28, 2015 . https://web.archive.org/web/20150928124314/http://nymag.com/daily/intelligencer/2011/01/chase_coleman.html . live .
  20. News: Mai A. Vilms Fiancee Of Enno Ercklentz Jr.. The New York Times . 2020-08-09. en. 2020-10-27. https://web.archive.org/web/20201027174818/https://timesmachine.nytimes.com/timesmachine/1969/08/20/89021843.html?pageNumber=52. live.
  21. Web site: The Hamptons' Billionaire Lane, Mapped . 25 April 2016 .
  22. Web site: A Billionaire Lets Guests Vandalize His Upper East Side Apartment .

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