Louis Bacon: biography of the hedge fund founder Moore Capital Management
Billionaire Louis Bacon is a legend on Wall Street. He founded Moore Capital Management, and also managed various hedge funds. The entrepreneur is actively engaged in charity work, and finances projects related to environmental protection. Louis Bacon’s biography is extremely interesting.
The businessman was born in 1956 in North Carolina. His father ran a real estate company and afterwards worked for an insurance company and an investment bank. The Bacon family was well off, which allowed Louis to get a prestigious education in literature.
The young man decided to become an investor after he met the famous trader Walter Frank. After getting a job as a clerk in the entrepreneur’s firm, Luis decided to go further, and enrolled at Columbia Business School. At the same time as earning his MBA, he pursued a career in trading. After graduating, Bacon went to work for a bank, later returned to Walter N. Frank, and then got a position at Shearson Lehman Brothers brokerage firm. Thanks to his diligence, the young man after some time headed the managing position in the division, which dealt with futures.In 1989, Louis organized his own business – the company Moore Capital Management. After his father’s death, the entrepreneur received a $25,000 inheritance, which he decided to use to expand his business. As a result, the hedge fund was reorganized and renamed Moore Global Investments.
Bacon showed excellent business skills, he was able to make money on significant processes in the stock market, he carefully analyzed the situation on the market, thanks to the advance vision of the approaching crises. Thanks to this, Luis’s company only in the first year earned a profit of 80%.
Bacon’s achievement is not only a successful business and a billion-dollar fortune. He is known as an environmental activist, Louis is engaged in charity and regularly allocates funds for environmental projects. In 1992 he established a charitable foundation, which finances various non-profit organizations aimed at protection of nature and preservation of water resources of the planet. On the account of the foundation he cooperates with more than 200 companies working in different parts of the world. Among them is Riverkeeper, an organization dedicated to the protection and cleaning of the Hudson River and its banks. Bacon has donated more than a million dollars to its activities.
Luis is sure that protecting the environment is a priority for humanity. It is necessary to take decisive steps now in order not to face a global ecological catastrophe in the future. The businessman actively supports initiatives aimed at preserving wildlife.