Joel Greenblatt Net Worth
Investor, hedge fund manager, and author of “magic formula investing” Joel Greenblatt is a very rich man. As of 2015, his total net worth is estimated to be around $500 million. Gotham Capital hedge fund that Greenblatt manages has currently a value of astonishing $12 billion. From 1985 to 2006, Joel led it to 40% average annual return on investment.
After he graduated from The Wharton School at the University of Pennsylvania in 1980, Greenblatt’s financial career took off swiftly. In 1985, he already started his famous Gotham Capital fund. The size was only $7 million back then. He also co-founded famous Value Investors Club which is a prestigious group of 250 members, that share their investment ideas. Each member must post a minimum of 2 investment ideas a year and VIC awards on the bimonthly basis investors who provide the best advice.
Greenblatt also published a book called The Little Book that Beats the Market in which he came up with what he named “magic formula investing”. Basically, he reveals his recipe on how to pick cheap and quality companies based on their high earnings yields and a high return on invested capital. His other books are You Can Be a Stock Market Genius and The Big Secret for the Small Investor.
He has also a very charitable soul. For example in 2002, Greenblatt donated amazing $2.5 million to one public elementary school in Queens, New York. He is also a founding Master Player of a virtual trading contest named Portfolios with Purpose.
