# Daniel S. Loeb Canonical: https://web4.xpay.bi/en/wiki/wp-en-7541444/ Language: en Published: 2026-10-29T22:01:06.372Z Updated: 2026-10-29T22:01:06.372Z Daniel Seth Loeb (born December 18, 1961) is an American investor, hedge fund manager, and philanthropist. He is the founder and chief executive of Third Point, a New York-based hedge fund focused on event-driven, value-oriented investing with $4 billion in assets under management, as of December 2023. ## Key facts ## Overview Daniel Seth Loeb (born December 18, 1961) is an American investor, hedge fund manager, and philanthropist. He is the founder and chief executive of Third Point, a New York-based hedge fund focused on event-driven, value-oriented investing with $4 billion in assets under management, as of December 2023. New York magazine noted that Loeb's "preferred strategy" is to buy into troubled companies, which "is the key to his success." Regarding his active involvement in the companies in which he invests, Loeb was described as "one of the most successful activists" in 2014. ## Early life and education Loeb is the son of Ronald and Clare (née Spark) Loeb. He is a descendant of rabbi Levi Yitzchok of Berditchev. He was raised in Santa Monica, California, where he attended Palisades Charter High School. There he took AP classes, started a skateboard company, and was nicknamed "Milo Minderbinder" by one of his teachers (after a character in the novel Catch-22 who had a fascination with the stock market). His father was a partner at the Los Angeles law firm of Irell & Manella LLP and general counsel for Williams-Sonoma, Inc. Ronald Loeb also served as an outside director of Mattel, Inc. for over 30 years and during one period became interim president of Mattel. Clare Loeb, his mother, is a historian and independent scholar. Loeb's great-aunt, Ruth Handler, created the Barbie doll and co-founded Mattel Inc. Loeb attended the University of California, Berkeley for two years and subsequently graduated from Columbia University with a bachelor's degree in economics in 1983. At Columbia, he was a classmate of future President Barack Obama, whose presidential campaign he later offered significant financial support. By his senior year at Columbia, Loeb had made $120,000 in the stock market, but lost it all on an investment in a firm called Puritan-Bennett Inc. The loss taught him a lesson, he later said, in "overconcentrating positions". ## Investing career From 1984 to 1987, Loeb worked at private equity firm Warburg Pincus. He then worked as director of corporate development at Island Records, a record label, where he focused on securing debt financing. After Island Records, Loeb worked as a risk arbitrage analyst at Lafer Equity Investors and then, from 1991 to 1994, as senior vice-president in the distressed debt department at Jefferies LLC, where he focused on bankruptcy analysis, trading bank loans and selling distressed securities. He moved on to become a Citigroup vice president from 1994 to 1995, in charge of high-yield bond sales. ## Third Point Management Loeb started Third Point Management in 1995 "with $3.3 million from family and friends". Under Loeb's guidance, Third Point Management's annualized returns since inception (Dec. 1996 – Dec. 2015) total approximately +16.2%. In 2012, the firm returned +21.2%, outperforming the S&P 500's return of +16.0% and making it one of best performing hedge funds that year. In 2013, the firm returned +25.2%, while the S&P 500 returned +32.4%. Loeb appeared in Forbes' 2013 list of the world's 40 richest hedge-fund managers and traders. In 2014, the firm returned +5.7%, while the S&P 500 returned +13.7%. In 2015, the firm returned -1.4%, while the S&P 500 returned +1.4%. In 2017, it was reported the firm returned 18.1% net of fees in the first 11 months of the year. ## Yahoo! In 2012, Loeb, who through Third Point LLC, held 5.8% of Yahoo! stock, sought seats on the Yahoo! board for himself, former NBC Universal CEO Jeff Zucker, former Goldman Sachs executive Harry Wilson and former MTV Networks executive Michael J. Wolf. On May 3, 2012, Loeb revealed that the new CEO of Yahoo!, Scott Thompson, did not have a computer science degree, as had been commonly assumed for many years. On May 13, 2012, Yahoo! announced that Thompson would be stepping down, and nominated Loeb, Wilson and Wolf to the Yahoo! board. Marissa Mayer was then appointed as CEO to replace Thompson. In July 2013, Loeb, Wilson, and Wolf resigned from Yahoo!'s board, leaving Yahoo! with a seven-member board. Yahoo! agreed to buy back 40 million shares at $1.6 billion from Third Point. ## Sony In May 2013, Loeb proposed splitting Sony's entertainment and electronics businesses, arguing that such a split would increase profits. On June 18, 2013, Third Point LLC announced it had increased its stake in Sony to 70 million shares, or about 7 percent, valued at $1.4 billion. According to Bloomberg.com, Sony's board of directors considered Loeb's proposal and hired Morgan Stanley and Citigroup, Inc. to evaluate it. Actor George Clooney, whose Smokehouse Pictures production company has a contract with Sony's entertainment division, publicly opposed the proposal. As of May 2014, Sony remained 12 percent lower than when Loeb first suggested for them to split. Sony had its sixth annual loss in seven years with shares dropping 8.8 percent as of May 2014. In February 2014, Sony said it would sell its PC business to buy out Japan industrial Partners Inc. and split its TV manufacturing unit into an independently operated entity. Ayano Iguchi, a company spokeswoman, said Sony was "focused on creating shareholder value by executing on our plan to revitalize and grow the electronics business, while further strengthening the entertainment and financial service businesses." Chris Konstantinos, director of international portfolio managements at RiverFront, stated that a breakup was "long overdue". In October 2014, Loeb sold his shares in Sony and later wrote, "They have a long way to go and we continue to believe that more urgency will be necessary to definitively turn around the company's fortunes". ## Sotheby's In October 2013, Loeb issued a letter scrutinizing the governance of Sotheby's. It announced that Third Point had acquired "9.3% of the outstanding shares" and addressed Third Point's concerns regarding the governance of Sotheby's. These concerns are summarized as, "we are troubled by the Company's chronically weak operating margins and deteriorating competitive position relative to Christie's, as evidenced by each of the Contemporary and Modern art evening sales over the last several years." The letter expressed strong skepticism of Sotheby's international strategy—"Sotheby's is struggling internationally, lagging in newer markets like China and the Middle East"—and called for the removal of William Ruprecht from all his positions. After Sotheby's instituted a "poison pill" to stop Third Point from growing its position past 10%, Third Point brought a lawsuit in the state of Delaware; however, on May 3, 2014, Vice Chancellor Donald Parsons of the Delaware Court of Chancery ruled that the auction house was justified in its use of the corporate action. On May 5, Loeb and Sotheby's reached an agreement, stipulating that Loeb, Olivier Reza and Harry J. Wilson join the board in exchange for Third Point having an ownership cap at 15%. William Ruprecht remained CEO and the proxy contest ceased. After 35 years at Sotheby's, Ruprecht retired as CEO. On March 16, 2015, Sotheby's named Tad Smith as its new president and chief executive. ## Fanuc In late 2014, Loeb's Third Point took a stake in Fanuc, a robotics and computer numerical controls firm. Prior, Fanuc seldom made direct contact with its investors but in March 2014, the company decided "it would start talking to shareholders" and "return some of its cash to them." Loeb met with Fanuc's president, Yoshiharu Inaba, with encouragement from Japan's government officials, and was deemed a top prospect for "shaking up Japanese firms." ## Ligand Pharmaceuticals In January 2007, when John Higgins became CEO of Ligand Pharmaceuticals, Loeb bought into the biotech firm to cut its losses and grow revenue. Loeb invested $50 million, increased the company's profit to $250 million, and bought back $68 million in stock. ## Seven & I In April 2016, Loeb won a battle in his drive to shake up corporate Japan which had "been sheltered from agitating investors". Seven & I Holdings Co.'s board was planning to replace Ryuichi Isaka as head of the company however, Loeb recommended Isaka as a successor to Toshifumi Suzuki, chairman and chief executive. On April 7, Suzuki resigned after losing a boardroom dispute with Loeb. Loeb wrote in a March 27, 2016 letter to Seven & I directors, "Mr. Isaka should be rewarded—not demoted—for his performance and commitment to delivering results for shareholders ... This isn't a dynasty. This is a corporation." Loeb has pushed for the company to focus on its convenience store line while jettisoning its plans to expand its department and supermarket store franchises. ## Nestlé In June 2017, Third Point disclosed its ownership of approximately 40 million shares of Nestlé, making it the company's sixth-largest shareholder according to Standard & Poor's Global Market Intelligence. ## Portfolio 2020 His largest investments are in The Walt Disney Company, Amazon and Danaher Corporation. He owns 5.5 million shares of Disney, which are worth $718 million. Amazon is in second place with a value of $661 million. About 20% of his portfolio is technology services. It was also announced in October that Loeb had become a shareholder in Snowflake, a cloud data platform. ## Sources - Daniel S. Loeb · Wikipedia: https://en.wikipedia.org/?curid=7541444 Source: Wikipedia contributors — https://en.wikipedia.org/?curid=7541444&oldid=1378722496 Licence: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation notice: Reformatted for XPay; the source may be abridged, restructured or translated. Consult the cited revision for the original.