Billionaire Julian Robertson dies at 90
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Julian Hart Robertson, 90-year-old investor and founder of hedge fund Tiger Management Corp, died in New York at his Manhattan home, according to Bloomberg.
After working for the Massachusetts-based investment firm Kidder, Peabody & Co in 1980, Robertson raised $8 million from friends and family to start his first investment fund. Throughout the 1980s, the fund remained small in size but extremely successful. Thanks to the investments of large investors in 1991, the assets of the fund amounted to $1 billion, and by 1998, the assets of 6 funds managed by Robertson reached $22 billion.
After a series of setbacks in 2000, Robertson decided to close all six funds that had averaged 25% returns over 20 years. In the ranking of Forbes magazine in 2015, his fortune is estimated at $ 3.4 billion.
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