Charles Payson also known as Chase Coleman III (born June 1975) is the founder of Tiger Global Management and a billionaire hedge fund manager in the United States. He is said to be the world most profitable hedge fund manager. His net worth is estimated to be $10.3 billion as of October 2021.
Early Life
Coleman was born and raised in the Long Island town of Glen Head. C. Payson Coleman Jr., a partner at Pillsbury Winthrop Shaw Pittman in New York, and his mother, Kim Coleman, own an interior design firm.
His grandfather, Charles Payson Coleman, was married to Mimi C. Thompson (née Louise Stuyvesant Wainwright), a descendant of Peter Stuyvesant, the last Dutch Governor who surrendered New Amsterdam to the British. He was the managing partner of the New York law firm Davis Polk & Wardwell until his death in 1982.
Education
Chase Coleman attended Deerfield Academy and Williams College, where he was co-captain of the lacrosse team and graduated in 1997.
Family
Coleman married Stephanie Ercklentz, the stepdaughter of Ridgely W. Harrison Jr. and the daughter of lawyer Enno Ercklentz Jr. and Mai Harrison, in Bethesda-by-the-Sea, Palm Beach, Florida, in 2005. She worked for Merrill Lynch in investment banking and Anne Klein and Vera Wang in marketing and public relations after graduating from Wellesley College. Born Rich, a 2003 documentary about growing up in the world’s wealthiest families, featured Ercklentz. Mai Harrison (née Vilms), her mother, is a granddaughter of Jüri Vilms, a member of the Estonian Salvation Committee and the leader of the Estonian Independence Movement.
The couple and their four children live in New York City. They paid $32.5 million for an estate on Meadow Lane in Southampton in 2007. They paid $36.5 million for the entire sixth floor of a Fifth Avenue building at 66th Street from Veronica Hearst, William Randolph Hearst’s daughter-in-law. The Colemans paid $52 million for the fifth floor in 2016, and reportedly allowed party guests to graffiti the walls before demolishing it to combine it with their existing home in 2018. They have properties in Palm Beach, Florida as well.
Career / Business
Chase Coleman began his career working for Julian Robertson’s hedge fund, Tiger Management, in 1997 as a Tech Analyst. Coleman had known Robertson’s son, Spencer, who grew up in Locust Valley, not far from Glen Head. In 2000, Robertson closed his fund and entrusted Coleman with the management of over $25 million, making him one of the 30 or so “Tiger Cubs,” or fund managers who began their careers with Tiger Management. Julian Robertson said, “I’ve known Chase since he was a young boy on Long Island and he’s a good friend of my son Spencer.”
Chase Coleman is a partner at Tiger Global Management, the investment firm he founded. This firm worth over $42billion today. Both Facebook and LinkedIn were early investors for the hedge fund.
Chase’s Tiger Global Management was the best-performing hedge fund in the world in 2020, according to a report released in January 2021, generating $10.4 billion in returns for its investors. Tiger Global has amassed a total value of more than $25 billion for its investors. Line Pine Capital generated $9.1 billion, and two other “Tiger Cubs” made the list. Viking Global made a $7 billion profit.
Chase Coleman and Tiger Global, on the other hand, had a less impressive 2022. In June 2022, it was reported that Tiger’s flagship fund had lost 50% of its value year to date, with a 14 percent drop in May alone. The losses were primarily driven by tech stocks, such as Carvana, which fell by more than 80% in the second quarter of this year.
Age
Chase Coleman was born on 1st June 1975. He is currently aged [get_age month=6 day=1 year=1975] old.
Net Worth
Chase Coleman ranked #192 on Forbes‘ 2022 list of the world’s billionaires, with a net worth of US$10.3 billion. He was born into “old money” and has made a lot of “new money,” according to Business Insider.
Philanthropy
Coleman is a co-chair of the Hospital for Special Surgery’s investment committee in New York.
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