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Daniel Och (born 1961) is an American billionaire investor, hedge fund manager, and philanthropist. He is the founder, chairman and former CEO of Och-Ziff Capital Management Group, a global hedge fund and alternative asset management firm.[2]

Daniel Saul Och
Daniel S. Och - World Economic Forum Annual Meeting Davos 2009.jpg
Daniel Och at the World Economic Forum annual meeting in 2009
Born1961 (age 57–58)
NationalityAmerican
Alma materWharton School of the University of Pennsylvania
OccupationInvestor, hedge fund manager, and philanthropist
Known forFounding and leading Och-Ziff Capital Management
Net worthUS$3.2 billion (February 2018)[1]
Spouse(s)Married
Children3
Parent(s)Golda and Michael Och

According to Forbes Magazine he has a net worth of US$3.2 billion (as of February 2017), down from his 2016 net worth of $3.7 billion.[3]

Contents

Early life and educationEdit

Och is the son of Golda and Dr. Michael Och. Och grew up in Maplewood, New Jersey and attended the Solomon Schechter Day School of Essex and Union (since renamed Golda Och Academy, in honor of his mother) in West Orange, New Jersey, a Jewish day school founded by his parents.[4] In December 2010, Och donated $15 million to the school, effectively doubling its endowment.[5] Och has a bachelor's degree in economics with a concentration in finance from the Wharton School of the University of Pennsylvania.[6]

Investment careerEdit

In 1982, Och began his career at Goldman Sachs in the Risk Arbitrage Department. He was later the Head of Proprietary Trading in the Equities Division and Co-Head of U.S. Equities Trading. He worked at Goldman Sachs for 11 years.[6] In 1994, Och founded Och-Ziff Capital Management Group with $100 million initial investment from the Ziff brothers (see Dirk Edward Ziff, Daniel M. Ziff, Robert D. Ziff), heirs to publishing magnate William Bernard Ziff, Jr.[1] Och-Ziff completed an initial public offering in 2007, listing its shares on the New York Stock Exchange initially at a price of $32.00. The company's stock has declined significantly since the IPO, reaching its all-time low of 3.29 on July 22, 2016.

In February 2014 Forbes listed Daniel Och as one of the 25 Highest-Earning hedge fund managers in 2013. His 2013 total earnings of $400 million ranks him the 17th among the 25 top earning hedge fund managers.[7]

On May 8, 2015, Och was targeted by the "Hedge Clippers" activist group, who protested outside of his residence at 15 Central Park West, New York CIty.[8]

In September 2016, the U.S. government fined Och $2.2 million and the Och-Ziff fund $413 million for paying over $100 million in bribes to various African government officials.[9]

In February 2018, Och was replaced as CEO of Och-Ziff by Robert Shafir. Och remains chairman until March 2019.[10][11] This change in leadership occurred following the 2016 bribery scandal and caused turmoil as Och had formerly indicated James Levin would be his successor before retracting that statement.[12][13]

Philanthropy and political contributionsEdit

Och sits on the board of Endeavor.[14] He is the vice chair of Robin Hood Foundation, a charitable organization fighting poverty in New York City.[15]

In 2008, Och donated $28,500 to Democratic Senatorial Campaign Committee.[16]

In October 2017, the Spine Hospital of the NewYork–Presbyterian Hospital was named after Och and his wife following a $25 million donation.[17] Additionally, in 2014 the University of Michigan established The Och Initiative for Women in Finance named after the Och family.[18]

Personal lifeEdit

Och is married to Jane Och with whom he has three children.[1] [19] Och's personal interests include philanthropy, skiing, and history.[20] He has a $20 million home in Southampton, New York.[21]

ReferencesEdit

  1. ^ a b c "Forbes: The World's Billionaires - Daniel Och". Forbes. Retrieved February 22, 2018.
  2. ^ "Daniel Saul Och". Businessweek. Retrieved March 19, 2013.
  3. ^ "Daniel Och". Forbes. Retrieved February 20, 2017.
  4. ^ New Jersey Jewish News: "Schechter school mourns founder Golda Och, 74" January 13, 2010
  5. ^ West Orange Patch: "Solomon Schechter Becomes Golda Och Academy with $15M Donation" by Joshua Wilwohl December 6, 2010
  6. ^ a b "Daniel Och". Och-Ziff Capital Management Group. Retrieved April 19, 2009.
  7. ^ Vardi, Nathan (February 26, 2014), "The 25 Highest-Earning Hedge Fund Managers And Traders", Forbes
  8. ^ "Hedge Clippers Take On Daniel Och "The Wolf Of Wall Street"". ValueWalk. Retrieved May 8, 2015.
  9. ^ Stevenson, Alexandra (September 29, 2016). "Och-Ziff to Pay Over $400 Million in Bribery Settlement". The New York Times. Retrieved December 6, 2018.
  10. ^ "CNBC: Oz Management Appoints Robert Shafir to Succeed Dan Och as Chief Executive Officer". Missing or empty |url= (help)
  11. ^ "Bloomberg: Beleaguered Och-Ziff Turns to Steady Hand for CEO to Calm Waters".
  12. ^ "Reuters: Och-Ziff changes leadership, co-CIO Windreich to retire: letter".
  13. ^ "Institutional Investors: When Succession Planning Goes Wrong".
  14. ^ "Daniel S. Och Joins Endeavor's Board of Directors". Business Wire. July 12, 2007.
  15. ^ "Robin Hood's Board of Directors". Robin Hood Foundation. Archived from the original on March 25, 2009. Retrieved April 19, 2009.
  16. ^ "FundRace 2008". Huffington Post. Retrieved April 19, 2009.
  17. ^ "The Nation: A New York Community Fights to Keep a Psychiatric Ward in Its Own Backyard". The Nation. October 31, 2018.
  18. ^ "UM: Och Gift impacts students at U-M's Ross School of Business and Athletics".
  19. ^ Wall Street Donors Guide: Daniel and Jane Och By Inside Philanthropy August 02, 2017
  20. ^ Christine Williamson (October 19, 2009). "Strong character: Face to face with Daniel S. Och". Pensions & Investments.
  21. ^ Daily Mail: "Billionaire Lane: From fashion designers to real estate tycoons and Wall Street financiers. Meet those who live on the East Coast's most exclusive 5-mile stretch with a private beach and helipad" By CHARLENE ADAMS May 23, 2015

External linksEdit