John A Paulson

Hedge fund manager who reaped billions betting against subprime

Shrewd investor pocketed $3.5 billion shorting subprime credit last year; windfall believed to be largest one-year payday in Wall Street history. Net worth was less than $300 million in early 2007. New York native studied finance at NYU. M.B.A. from Harvard, then stints at Odyssey Partners, Bear Stearns. Founded Paulson & Co. in 1994. In 2005 became convinced U.S. economy would soon fail; asked employees to find "bubble" to short. Took advantage of perceived weakness in real estate market by executing complex debt trades, betting against ABX (mortgage) index. Firm's Credit Opportunities fund up 590% net of fees last year. Assets under management now $35 billion, up 400% since end of 2006. This year funds are beating S&P by more than 20% on bets against subprime, credit cards. According to the latest 13F filing in August 2021, Paulson and Co.'s largest holding is 25,839,035 shares, or a more than $750 million stake, in Bausch Health. He also holds 7,991,440 shares, or an approximately $748 million stake, in Horizon Therapeutics and 20,000,552 shares, or a $468 million stake, in BrightSphere Investment Group. His other substantial holdings as of August 2021 include stakes in Novagold Resources, Occidental Petroleum, Dish Network, Exxon Mobil, APA Corp, Kansas City Southern, Barrick Gold, and Discovery Inc. In addition to Paulson's portfolio holdings, the billionaire has an impressive real estate portfolio, including an 28,500-square-foot Upper East Side townhouse on East 86th Street, purchased for $14.7 million in 2004, an estate in Southampton, bought for $41 million in 2008, and a home in Aspen purchased for $24.5 million in 2010. Graduated first in his class with a degree in Finance from NYU's College of Business and Public Administration. Went on to receive a MBA from the Harvard Business School. Became managing director in mergers and acquisitions at Bear Stearns. Moved on to become a general partner at Gruss Partners. Notable Accomplishments: Made his career (and billions of dollars) by correctly betting against the US housing market

Relationships Interlocks Giving Data

Business Positions

AGC Life Insurance Company Holding company

• Director ('16→?)

American International Group, Inc. Global insurance company

• Director ('16→?)

OneWest Bank owned by CIT bank. Formerly called IndyMac when it was owned by the FDIC

• Position

Odyssey Investment Partners, LLC

• Position (past)

Bear Stearns In 2008, JPMorgan Chase & Co. acquired The Bear Stearns Companies Inc.

• Position (past)

Board Memberships

Valeant Pharmaceuticals International A multinational specialty pharmaceutical company

• Board Member

BrightSphere Investment Group plc An asset management company in London

• Board Member ('18→?)

Paulson & Co. Inc. Hedge fund that reaped billions shorting the mortgage sector

• Founder ('94→?)

New York University Stern School of Business

• Board Member

92nd Street Y

• Director (past)

New York University

• Board Member (past)

Central Park Conservancy The mission of the Central Park Conservancy is to restore, manage, and enhance Central Park in partnership with the public.

• Director (past)

The Spence School The School is committed to the rigorous study of the liberal arts and sciences appropriate to Grades K through 12.

• Board Member (past)

The Partnership for New York City, Inc. Nonprofit membership organization comprised of a select group of two hundred CEOs from top NYC-based businesses

• Board Member (past)