Greg Lippmann is a well-known American businessman and investor who made a name for himself by betting against the subprime mortgage market during the financial crisis of 2007-2008. He gained notoriety after being featured in the book “The Big Short” by Michael Lewis and the subsequent movie adaptation.
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Early Life and Education
Greg Lippmann was born in 1968 in Morristown, New Jersey. He attended the University of Michigan, where he earned a Bachelor of Business Administration in Finance in 1991.
After graduating from college, Greg Lippmann began his career as an investment banker at Salomon Brothers. He later worked at Deutsche Bank and then at Citigroup, where he became a managing director and head of global CDO trading. It was during his time at Citigroup that Lippmann began to see the warning signs of the subprime mortgage crisis and started to bet against the market.
In 2006, Lippmann left Citigroup to start his own hedge fund, LibreMax Capital. The fund specializes in structured credit investments and has performed well since its inception.
The Big Short
Greg Lippmann gained national attention after being featured in Michael Lewis’s book “The Big Short,” which chronicles the events leading up to the 2008 financial crisis. In the book, Lippmann is portrayed as one of the few people who saw the crisis coming and took action to profit from it.
A movie adaptation of the book, with the same title, featured Ryan Gosling portraying Lippmann’s character.
As of 2023, Greg Lippmann’s net worth is estimated to be around $500 million. His success in betting against the subprime mortgage market during the financial crisis helped to cement his reputation as a savvy investor.
Greg Lippmann is also known for his philanthropic efforts. He has been involved with a number of charitable organizations over the years, including the Robin Hood Foundation and the Boys and Girls Club of America.
Greg Lippmann is married and has two children. He is known for his love of sports, particularly baseball, and is a fan of the New York Yankees.
Q: Who is Greg Lippmann?
A: An American investor and businessman became famous during the 2007-2008 financial crisis for profiting from betting against subprime mortgages.
Q: What is net worth?
A: As of 2023, he net worth is estimated to be around $500 million.
Q: What is LibreMax Capital?
A: LibreMax Capital is a hedge fund founded by Greg Lippmann that specializes in structured credit investments.
Q: What charitable organizations is Greg Lippmann involved with?
A: He has collaborated with various charitable organizations, like the Robin Hood Foundation and Boys and Girls Club, for years.
Greg Lippmann is a well-known American businessman and investor who gained notoriety for his successful bets against the subprime mortgage market during the financial crisis of 2007-2008. He has since gone on to start his own hedge fund and is estimated to have a net worth of $500 million. Lippmann is also known for his philanthropic efforts and his love of sports.