| Louis Moore Bacon | |
|---|---|
| Born | 1956 Raleigh, North Carolina |
| Residence | New York, New York |
| Alma mater | Middlebury College Columbia Business School |
| Occupation | Hedge funds |
| Years active | Since 1989 |
| Employer | Moore Capital Management |
Louis Moore Bacon (born 1956) is an American hedge fund manager, trader and founder of Moore Capital Management.[1]
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Bacon was born in Raleigh, North Carolina; his father, Zachary Bacon Jr., founded Bacon & Co. and led Prudential Financial’s and Merrill Lynch’s real estate efforts in North Carolina[2]
Bacon graduated from Episcopal High School in Alexandria, Virginia. He attended Middlebury College in Vermont where he received his B.A. in literature, graduating Cum laude in 1979.[3][2] Bacon met Walter Frank while he was working on a fishing boat in Long Island and got a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years.[2]He subsequently received his MBA degree in finance at Columbia Business School in 1981.[4][2]
After receiving his MBA, Bacon joined the sales and trading program at Bankers Trust. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. Bacon then got a job on the floor of the New York Cotton Exchange, working as a "runner".[2] Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division.[2][4][5]
In 1987 Bacon founded Remington Trading Partners and his insights into the market crash of that era allowed him to profit as the market declined as well as during its rebound some time later.[2] In 1989, Bacon used his middle name in founding Moore Capital Management LLC and in 1990 created Moore Global Investments using the $25,000 he inherited from his family.[2]
In 2006, Forbes names Bacon as the 746th richest person in the world.[3] and in 2011 he was listed as the 736th richest man.[6] In 2010, the Denver Post reported that his $1.6 billion ranked him as the 238th richest American.[7]
In 1986 Bacon married Cynthia Pigott,[4] a former Newsweek magazine staff member whom he divorced. In 2007, he married Gabrielle Sacconaghi in Manhattan.[8][9]
In 1991 Bacon was 20th on the list of Financial World's, Top 100 Wall Street Earners list.[10]
In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family. The 171,400-acre (694 km2) property sold for $175 million.[11]
In March 2010 Forbes Magazine estimated Bacon's net worth to be $1.5 billion and the 655th richest person in the world.[3]
In 2010, Bacon purchased the Orton Plantation Gardens in North Carolina which was built in by his ancestor, Roger Moore, in 1735.[12][2]
In May 2011, the High Court in London granted Bacon a court order to obtain information from the Wikimedia Foundation, The Denver Post newspaper, and WordPress as to the identities of internet users alleged to have defamed him. Legal experts suggested compliance with the orders was unlikely, given the US tradition of freedom of speech, and the fact that US courts typically required "actual evidence or sufficient allegations of libel" before granting similar orders.[13][14]
Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper.[15][16]