Israel Englander: Millions to Billions
Millions of dollars is a lot of money; billions is a whole lot of money, and the journey from millions to billions can be rife with tremendous challenges and triumphs.
Israel Englander, the son of Polish immigrants and familiarly known as “Izzy,” knows firsthand what the journey from millions to billions is like. Mr. Englander founded Millennium Management back in 1989 with a “mere” $35 million; now, the hedge fund firm manages more than $35 billion in assets.
To be more precise, Millennium Management oversees $35.9 billion in assets and has more than 2,600 employees working across offices in the United States, Europe, and Asia. For over a quarter-century, Israel Englander and Millennium Management have delivered the alternative investment industry’s highest-quality returns, while maintaining a commitment to their principles of integrity, discipline, and excellence.
To get an idea of where these principles come from, we can take a look at Israel Englander’s upbringing. “Izzy” was born in 1948, a year after his Jewish parents immigrated to the United States from Poland. His family had been devastated during the Holocaust, as his father’s entire family had perished.
Raised in New York, Mr. Englander’s passion for finance began early in his life. He graduated from New York University with a B.S. in
Partnering with Ronald Shear in 1989, Israel Englander and Shear started Millennium Management with the aforementioned initial investment of $35 million. Millennium’s first year was challenging, with co-founder Shear leaving the firm. Never one to cut and run, Israel Englander persisted and built Millennium Management into a multibillion-dollar firm that makes over 2 million trades a day.
With over 45 years of experience in securities and derivatives, along with a personal net worth of $6 billion, Israel Englander has earned the number-five spot on Forbes’ list of The Highest-Earning Hedge Fund Managers 2018. It’s an extraordinary achievement and a testament to his ability to overcome life’s challenges through enduring principles of quality, integrity, and perseverance.
These principles also help to explain why Millennium Management attracts the world’s top trading talent, as well as a loyal and global clientele base. Through tough times and a multitude of obstacles, Israel Englander’s millions-to-billions journey is, indeed, a lesson in the inestimable power of tenacity.