Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist. He is currently the founder and chief executive of Moore Capital Management.
Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400 as of February 2017.
Early life and education
Bacon was born in Raleigh, North Carolina on July 25, 1956. His father, Zachary Bacon Jr., founded real estate company Bacon & Co. and later led Prudential Financial’s and Merrill Lynch’s real estate efforts in North Carolina.
Bacon graduated from Episcopal High School in Alexandria, Virginia. He attended Middlebury College in Vermont where he received his BA in American literature, graduating in 1979. Bacon met Walter Frank while he was working on a fishing boat on Long Island. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. He subsequently received his MBA degree in finance at Columbia Business School in 1981.
While at Columbia, Bacon traded commodities using a low interest loan he had received. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. He turned a profit during his fourth semester.
Investment career
After receiving his MBA, Bacon joined the sales and trading program at Bankers Trust. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. Bacon then got a job on the floor of the New York Cotton Exchange, working as a “runner”. Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division.
In 1987 Bacon founded Remington Trading Partners and his market insights allowed him to profit during the market crash and subsequent rebound. In 1989, Bacon used his middle name in founding Moore Capital Management LLC and in 1990 created Moore Global Investments using the $25,000 he inherited from his family.
In 2006, Forbes named Bacon as the 746th richest person in the world, and in 2011 he was listed as the 736th richest man. In 2010, the Denver Post reported that his $1.6 billion ranked him as the 238th richest American. In March 2010 Forbes Magazine estimated Bacon’s net worth to be $1.5 billion and the 655th richest person in the world.
In December 2013, he purchased Taos Ski Valley from the Blake family, who had owned it since 1954.
Summary
| Louis Bacon | |
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Bacon donating conservation easement in Sangre de Cristo Mountains, June 2012
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| Born | Louis Moore Bacon July 25, 1956 Raleigh, North Carolina, US |
| Residence | New York City, New York, US |
| Alma mater | Middlebury College Columbia University |
| Years active | 1989-present |
| Known for | Founding and leading Moore Capital Management |
| Net worth | US$1.81 billion (February 2017) |
Louis Bacon is an American hedge fund manager, trader and founder of Moore Capital Management, he has an estimated net worth of $1.3 Billion. Born Louis Moore Bacon in Raleigh, North Carolina in 1956, his father Zachary Bacon Jr. founded real estate company Bacon & Co., and later led Prudential Financial’s and Merrill Lynch’s real estate efforts in North Carolina. He graduated from Episcopal High School in Alexandria, Virginia and attended Middlebury College in Vermont. In 1979, he received his B.A. in American literature, cum laude. He got a job clerking at the specialist firm Walter N. Frank & Co. during the summers of his college years. In 1981, he received his MBA in finance at Columbia Business School. While at Columbia, he traded commodities using a low interest loan he had received.
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