Daniel Seth Loeb is an American hedge fund manager and founder of Third Point LLC, a New York based hedge fund managing over $7.5 billion in assets.[1][2] Loeb is well-known in the financial world for writing public letters, in which he expresses disapproval of the performance and conduct of other financial executives.[3] Supporters contend his letter writing is effective shareholder activism; critics counter that his letters are distracting for executives and uncomfortable for investors.[4] Less than 10% of Third Point's $7.5 billion goes to shareholder activism.[5]
Loeb is a graduate of Columbia University; prior to founding Third Point he worked at Citicorp.[6] Loeb reportedly enjoys art collecting, yoga, and surfing.[7] In 2005, Loeb achieved a 500% profit when he sold a painting by Martin Kippenberger. Loeb has argued that the American government is under a 'crisis of leadership' in terms of finances.[8]
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According to Bloomberg Markets Magazine, Loeb grew up in Santa Monica Canyon in California, where he was an avid surfer and astute investor from a young age. One of three children of his father, an attorney, and his mother, a historian, he attended Palisades Charter High School, which was known more commonly at the time as "Pali High" in the Pacific Palisades neighborhood of Los Angeles. Later, he attended University of California at Berkeley and Columbia University.
