Michael James Burry (born June 19, 1971) is an American investor and hedge fund manager. He founded Scion Capital, a hedge fund he operated from 2000 to 2008 before closing it to focus on personal investments. Burry is best known for being one of the first investors to predict and profit from the subprime mortgage crisis that occurred between 2007 and 2010.
RELATED: Tom Holland Net Worth: Breaking Down the Spider-Star’s Earnings
Table of Contents
Michael Burry Net Worth
Michael Burry has a net worth of $300 million. Despite initial investor skepticism, his predictions about the subprime mortgage crisis proved accurate, earning him a $100 million personal profit and $700 million for remaining investors. Between 2000 and 2008, Scion Capital achieved a 489.34% return.
After liquidating his credit default swap shorts in 2008, Burry focused on personal investments and later reopened his hedge fund as Scion Asset Management in 2013. He has invested in gold, water, farmland, Facebook, and Alphabet Inc., and has shorted Tesla and ARK Investment Management.
Early life
Michael Burry was born and raised in San Jose, California, with Rusyn ancestry. He lost his left eye to retinoblastoma at age two and has used a prosthetic eye since. Burry attended Santa Teresa High School and studied economics and pre-med at UCLA.
He earned an MD from Vanderbilt University School of Medicine and began a pathology residency at Stanford, but did not complete it. While off-duty, Burry pursued financial investing. He maintains an active physician’s license with the Medical Board of California.
Career
While at Stanford, Michael Burry focused on financial investing, excelling in value investing. His success with stock picks attracted attention from firms like White Mountains Insurance Group, Vanguard, and investors like Joel Greenblatt.
Burry’s investment strategy is rooted in the 1934 book “Security Analysis”, emphasizing the concept of margin of safety. In late 2000, he founded his hedge fund, Scion Capital, funded by family loans and inheritance. By 2001, he earned a 55% return, while the S&P 500 dropped 11.88%. Burry continued to outperform the market in 2002.
Personal life
Michael Burry is married with children and was living in Saratoga, California, in 2010. His son was diagnosed with Asperger syndrome, and Burry believes he also has the condition after learning about it.
He recalls that, as a child, making eye contact required significant effort, and he said, “If I am looking at you, that’s the one time I know I won’t be listening to you.” Burry is a fan of heavy metal music, enjoying bands like Obituary, Lamb of God, Slipknot, and Pantera. He was also highly critical of the COVID-19 lockdowns in the U.S.
Why did Michael Burry closed his fund?
Michael Burry Closed Scion Capital In 2008 but he was audited four times and questioned by the FBI.” Burry was also motivated to close Scion Capital because he wanted to focus on other investment ventures after making a personal profit of $100 million from the late 2000s financial crisis.
RELATED: Dan Bilzerian Net Worth: The Financial Depth of Instagram’s King.
Conclusion
Michael Burry’s story is one of remarkable triumphs in the world of finance, marked by a keen analytical mind and a willingness to go against the grain. His net worth, impressive though it is, seems almost secondary to his role as a maverick in the financial industry, where his bets and predictions continue to resonate with investors worldwide.
FAQs about Michael Burry Net Worth: The Big Short’s Big Earnings
1. How did Michael Burry make his fortune?
Michael Burry made his fortune through his hedge fund, Scion Capital, by making successful bets against the tech bubble and later the subprime mortgage market.
2. Did Michael Burry benefit from the 2008 and 2009 bailouts?
No, Burry had liquidated his credit default swap shorts by April of 2008 and did not benefit from the economic bailouts that followed.
3. What is Michael Burry’s investment strategy?
Burry’s investment strategy is heavily influenced by value investing and the concept of “margin of safety,” as detailed in the 1934 book “Security Analysis.”
4. What is Michael Burry’s connection to GameStop?
Michael Burry held a significant stake in GameStop and in 2020, publicly urged the company’s management to make strategic changes. His position was greatly reduced before the stock’s price surge in 2021.
5. How much money did The Big Short Guys make?
In The Big Short, several key figures profited from the housing market crash. Michael Burry made $100 million by predicting the collapse. Mark Baum, based on Steve Eisman, earned $1 billion from the crash. Jared Vennett, based on Greg Lippmann, made $47 million from swap sales during the crisis depicted in the film.
