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What is Michael Burry Net Worth?
As of 2023, Michael Burry is estimated to have a net worth of $1.2 billion, mainly attributed to his successful predictions and investments. He notably made a significant profit by betting against the subprime mortgage market and also by betting against Tesla’s stock.
Burry established his hedge fund, Scion Capital, with the assistance of an inheritance and loans from family and friends. He experienced early success by shorting overvalued technology stocks during the tech bubble in 2001. Starting with $20 million in funding, he turned it into over $600 million by the end of 2004.
In 2008, Burry made billions by betting against the housing market. He convinced large firms, including Goldman Sachs, to sell him credit default swaps related to weak subprime deals. These investments allowed him to earn over $1.5 billion in profits for himself and Scion Capital’s investors.
Overall, Burry’s astute investment decisions and foresight played a significant role in his wealth accumulation.
Michael Burry Background
Michael James Burry, also known as Michael Burry, is a well-known hedge fund manager who gained recognition for being one of the first to predict the subprime mortgage crisis. His story was even made into a film called “The Big Short,” where he was portrayed by actor Christian Bale.
Burry grew up in California, and attended the University of California, where he studied medicine and economics. Although he initially pursued medical school, he decided to switch careers and became a hedge fund manager after experiencing success in trading during his free time. In November 2000, he founded his hedge fund called Scion Capital, and his early success came from making profitable investments by betting against the technology bubble in early 2001.
Michael Burry’s story was brought to the big screen in the 2015 film “The Big Short,” where he was portrayed by actor Christian Bale. The movie depicted key figures involved in the subprime mortgage crisis, although it took some creative liberties. The screenplay, co-written by director Adam McKay and Charles Randolph, won an Oscar and was based on Michael Lewis’s nonfiction book, “The Big Short: Inside the Doomsday Machine.”
Apart from his successful short position on the mortgage bond market, Burry is known for his insightful opinions on money and investing. Many investors look to him for guidance as he has a reputation for making predictions that can lead to profitable returns.
Life of Michael Burry
Michael James Burry is an American investor who gained fame for his accurate prediction of the subprime mortgage crisis, which occurred from 2007 to 2010. He is a well known physician specializing in neurology. In 2000, Burry founded the hedge fund Scion Capital, using a small inheritance.
He successfully profited from the crisis by shorting the mortgage bond market, specifically by swapping collateralized debt obligations (CDOs). This resulted in personal gains of $100 million and $700 million for his investors.
After shutting down Scion Capital in 2008, Burry focused on his personal investments. He established a private investment firm in 2011, named Scion Asset Management located in Silicon Valley.
Burry’s story was portrayed by Christian Bale in the 2015 film “The Big Short,” which depicted key figures involved in the subprime mortgage crisis. The movie was based on Michael Lewis’s nonfiction book, “The Big Short: Inside the Doomsday Machine,” and was co-written by director Adam McKay and Charles Randolph, winning an Oscar for its screenplay.
Aside from his successful short position on the mortgage bond market, Burry is known for his insightful opinions on money and investing, which can lead to profitable returns.
Michael Burry completed his undergraduate studies in economics at the University of California, Los Angeles, where he also took pre-med courses. He pursued a medical degree from Vanderbilt University School of Medicine and engaged in residencies at Stanford University in the fields of neurology and pathology.
Throughout his education, Burry developed a keen interest in investing and dedicated his spare time to it. While he decided to leave Stanford after completing three years of his neurology residency at Stanford University Hospital, he maintains his medical license with the Medical Board of California by continuing his education.
Burry is married and has two adult sons. One of his sons was diagnosed with Asperger’s Syndrome during childhood, leading Burry to discover that he also has the condition. In addition to his investment prowess, he is renowned for his deep passion for heavy metal music, as depicted in the movie “The Big Short.”
Burry is known for his unconventional strategies and for thinking differently from the crowd. He gained attention when he bet against the mortgage bond market for collateralized debt obligations (CDOs) in 2007. He considers himself a value investor, focusing on finding undervalued assets.
He has been critical of government financial policies, particularly those of the Federal Reserve. In a 2010 op-ed for The New York Times titled “I Saw The Crisis Coming. Why Didn’t the Fed?” He criticized key figures such as the Federal Reserve chairman, the Treasury secretary, the president, and senior members of Congress for underestimating the severity of the financial crisis and relying on taxpayer-funded bailouts as their only solution. He argued that things could have been handled differently.
In a more recent tweet on April 14, 2022, Burry expressed his opinion that the Federal Reserve has no intention of combating inflation. He suggested that the Fed is raising interest rates incrementally, waiting for stocks and consumer spending to reach their limits. He also mentioned the Fed’s plan to reduce its balance sheet quickly. According to Burry, the Fed’s main focus is on preparing to provide monetary support and financing to help in times of crisis.
Michael Burry currently runs a private investment firm called Scion Asset Management, which he founded. He is also known for his philanthropy and care for the environment. Burry established the Michael J. Burry Foundation, which focuses on supporting education for young people and protecting the environment.
These days, Burry is particularly interested in finding opportunities in innovative technologies like electric vehicles, solar energy, and blockchain. He also invests in real estate and stock markets worldwide. Burry aims to make investments that not only bring him success but also create positive and lasting changes for society. He wants his investments to have a beneficial impact on people and the planet in the long run.
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