What is Chase Coleman's Net Worth?
Chase Coleman is an accomplished American hedge fund manager with a net worth of $5.4 billion. Despite his family's wealth, Chase has created significant 'new money' through his endeavors. He is the son of a New York lawyer and an interior designer, and his grandfather, Charles Payson Coleman I, was a managing partner at the prestigious New York law firm Davis Polk & Wardwell.
Early Life
Chase Coleman III was born on June 1, 1975, in Glen Head, Long Island. Raised by his father, a lawyer, and his mother, an interior designer, Chase is a descendant of Peter Stuyvesant, the last Dutch governor of New York. He attended Deerfield Academy for high school before graduating from Williams College in 1997.
Career
After completing his education, Chase joined Tiger Management, a hedge fund founded by Julian Robertson, the father of one of his childhood friends. Established in 1980 with $8 million, Tiger Management grew to manage over $20 billion by the late '90s. However, poor investments led Julian Robertson to close the fund in 2000.
Chase Coleman (Photo by Kevin Dietsch/Getty Images)
Tiger Global Management
Julian Robertson supported Chase with $25 million to start his own hedge fund, Tiger Global Management. Chase's fund has become one of 50 such funds, known as "Tiger Cubs," fostering several multi-billion dollar fortunes. Today, Tiger Global Management oversees over $42 billion in assets. The fund was an early investor in thriving tech companies like Facebook, LinkedIn, and Spotify.
In 2020, Tiger Global Management was recognized as the best-performing hedge fund, generating $10.4 billion in returns. Overall, it has earned more than $25 billion for its investors. However, 2022 proved challenging; by mid-year, the flagship fund had experienced a 50% drop, largely due to falling tech stocks like Carvana.
Personal Life and Philanthropy
Chase and his wife, Stephanie, have been married since 2005 and have four children. Chase actively participates in philanthropy as the co-chair of the investment committee for the Hospital for Special Surgery in New York.
