Michael Price – Billionaire

Michael Price runs MFP Investors, a New York-based hedge fund that holds stakes in Intel, Hess Corp. and Du Pont. He started his career in finance in 1975 as a research assistant at Heine Securities. By 1988 he was the sole owner of the company. An expert value investor, Price increased the value of the mutual funds he managed to more than $17 billion before selling Heine Securities to Franklin Securities for $670 million in 1996. He donated $25 million to Yeshiva University in 2001 for a biomedical research center in his name and $18 million to his alma mater, the University of Oklahoma, to form the Price College of Business in 1997.

Michael Price net worth: Michael Price is an American businessman who has a net worth of $1.5 billion dollars which makes him one of the richest people in New Jersey. A current resident of Far Hills, New Jersey, Michael Price graduated from the University of Oklahoma, where he earned a degree in Business Administration in the early 70s. Just after graduating, he began working at Heine Securities as a research assistant. Fifteen years later, he had risen to become owner of the company. He is widely respected due to his excellent ability to invest wisely, and during his tenure at Heine Securities, he grew the various funds the company managed to $17 billion. He sold the company to Franklin Securities in the mid-90s for $670 million. He now runs his own firm, MFP Investors, and manages funds for multiple large corporations, including Intel Corp. When not focused on investing, he is known for his philanthropic work, which includes making large donations to the University of Oklahoma and Yeshiva University.

Source:

1. forbes

2. celebritynetworth