Louis Bacon
Encyclopedia
Louis Moore Bacon is an American
hedge fund
manager, trader
and founder of Moore Capital Management
.
; his father, Zachary Bacon Jr., founded Bacon & Co. and led Prudential Financial
’s and Merrill Lynch
’s real estate efforts in North Carolina
Bacon graduated from Episcopal High School
in Alexandria
, Virginia
. He attended Middlebury College
in Vermont where he received his B.A. in literature, graduating Cum laude
in 1979. Bacon met Walter Frank while he was working on a fishing boat in Long Island
and got a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years.He subsequently received his MBA degree in finance at Columbia Business School
in 1981.
. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. Bacon then got a job on the floor of the New York Cotton Exchange
, working as a "runner". Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers
and eventually became the senior vice president for their futures trading division.
In 1987 Bacon founded Remington Trading Partners and his insights into the market crash of that era allowed him to profit as the market declined as well as during its rebound some time later. In 1989, Bacon used his middle name in founding Moore Capital Management
LLC and in 1990 created Moore Global Investments using the $25,000 he inherited from his family.
In 2006, Forbes names Bacon as the 746th richest person in the world. and in 2011 he was listed as 736th richest man.
magazine staff member whom he divorced. In 2007, he married Gabrielle Sacconaghi in Manhattan.
In 1991 Bacon was 20th on the list of Financial World
's, Top 100 Wall Street Earners list.
In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado
from the Forbes family
. The 171400 acres (693.6 km²) property sold for $175 million.
In March 2010 Forbes Magazine estimated Bacon's net worth to be $1.5 billion and the 655th richest person in the world.
In 2010, Bacon purchased the Orton Plantation
Gardens in North Carolina which was built in by his ancestor, Roger Moore, in 1735.
In May 2011, the High Court
in London
granted Bacon a court order to obtain information from the Wikimedia Foundation
, The Denver Post
newspaper, and WordPress
as to the identities of internet users alleged to have defamed him.
Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
manager, trader
Trader (finance)
A trader is someone in finance who buys and sells financial instruments such as stocks, bonds, commodities and derivatives. A broker who simply fills buy or sell orders is not a trader, as they are merely executing instructions given to them. According to the Wall Street Journal in 2004, a managing...
and founder of Moore Capital Management
Moore Capital Management
Moore Capital Management LLC is an American hedge fund sponsor-owned by its employees. It was founded in 1989 by Louis Bacon. and in 2011 Moore Capital Management's largest funds were the $7.4 billion Moore Global Investment Fund, and the $4.6 billion Moore Macro Managers Fund.-Description:MCM was...
.
Family and education
Bacon was born in Raleigh, North CarolinaRaleigh, North Carolina
Raleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
; his father, Zachary Bacon Jr., founded Bacon & Co. and led Prudential Financial
Prudential Financial
The Prudential Insurance Company of America , also known as Prudential Financial, Inc., is a Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the...
’s and Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
’s real estate efforts in North Carolina
Bacon graduated from Episcopal High School
Episcopal High School (Alexandria, Virginia)
Episcopal High School , founded in 1839, is a private boarding school located in Alexandria, Virginia. The Holy Hill's campus houses 435 students from 30 states, the District of Columbia and 17 different countries...
in Alexandria
Alexandria, Virginia
Alexandria is an independent city in the Commonwealth of Virginia. As of 2009, the city had a total population of 139,966. Located along the Western bank of the Potomac River, Alexandria is approximately six miles south of downtown Washington, D.C.Like the rest of northern Virginia, as well as...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
. He attended Middlebury College
Middlebury College
Middlebury College is a private liberal arts college located in Middlebury, Vermont, USA. Founded in 1800, it is one of the oldest liberal arts colleges in the United States. Drawing 2,400 undergraduates from all 50 United States and over 70 countries, Middlebury offers 44 majors in the arts,...
in Vermont where he received his B.A. in literature, graduating Cum laude
Latin honors
Latin honors are Latin phrases used to indicate the level of academic distinction with which an academic degree was earned. This system is primarily used in the United States, Canada, and in many countries of continental Europe, though some institutions also use the English translation of these...
in 1979. Bacon met Walter Frank while he was working on a fishing boat in Long Island
Long Island
Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...
and got a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years.He subsequently received his MBA degree in finance at Columbia Business School
Columbia Business School
Columbia Business School is the business school of Columbia University in Manhattan, New York City. It was established in 1916 to provide business training and professional preparation for undergraduate and graduate Columbia University students...
in 1981.
Career
After receiving his MBA, Bacon joined the sales and trading program at Bankers TrustBankers Trust
Bankers Trust was an historic American banking organization. The bank merged with Alex. Brown & Sons before being acquired by Deutsche Bank in 1998.-History:A consortium of banks created Bankers Trust to perform trust company services for their clients....
. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. Bacon then got a job on the floor of the New York Cotton Exchange
New York Cotton Exchange
The New York Cotton Exchange was a commodities exchange founded in 1870 by a group of one hundred cotton brokers and merchants at 1 Hanover Square in New York City.- History :...
, working as a "runner". Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
and eventually became the senior vice president for their futures trading division.
In 1987 Bacon founded Remington Trading Partners and his insights into the market crash of that era allowed him to profit as the market declined as well as during its rebound some time later. In 1989, Bacon used his middle name in founding Moore Capital Management
Moore Capital Management
Moore Capital Management LLC is an American hedge fund sponsor-owned by its employees. It was founded in 1989 by Louis Bacon. and in 2011 Moore Capital Management's largest funds were the $7.4 billion Moore Global Investment Fund, and the $4.6 billion Moore Macro Managers Fund.-Description:MCM was...
LLC and in 1990 created Moore Global Investments using the $25,000 he inherited from his family.
In 2006, Forbes names Bacon as the 746th richest person in the world. and in 2011 he was listed as 736th richest man.
Personal life
In 1986 Bacon married Cynthia Pigott, a former NewsweekNewsweek
Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...
magazine staff member whom he divorced. In 2007, he married Gabrielle Sacconaghi in Manhattan.
In 1991 Bacon was 20th on the list of Financial World
Financial World
Financial World was the United States' oldest business magazine before going out of business in 1998. In the magazine's later years of publication, its signature issue was the "Sports Franchise Valuation Issue".- History :...
's, Top 100 Wall Street Earners list.
In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
from the Forbes family
Forbes family
The Forbes family is a wealthy extended American family originating in Boston. The family's fortune originates from trading between North America and China in the 19th century plus other investments in the same period. The name descends from Scottish immigrants, and can be traced back to Sir John...
. The 171400 acres (693.6 km²) property sold for $175 million.
In March 2010 Forbes Magazine estimated Bacon's net worth to be $1.5 billion and the 655th richest person in the world.
In 2010, Bacon purchased the Orton Plantation
Orton Plantation
The Orton Plantation is a historic Southern plantation in the Smithville Township of Brunswick County, North Carolina, United States. Located beside the Cape Fear River between Wilmington and Southport, Orton Plantation is considered to be a near-perfect example of Southern antebellum architecture...
Gardens in North Carolina which was built in by his ancestor, Roger Moore, in 1735.
In May 2011, the High Court
High Court
The term High Court usually refers to the superior court of a country or state. In some countries, it is the highest court . In others, it is positioned lower in the hierarchy of courts The term High Court usually refers to the superior court (or supreme court) of a country or state. In some...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
granted Bacon a court order to obtain information from the Wikimedia Foundation
Wikimedia Foundation
Wikimedia Foundation, Inc. is an American non-profit charitable organization headquartered in San Francisco, California, United States, and organized under the laws of the state of Florida, where it was initially based...
, The Denver Post
The Denver Post
-Ownership:The Post is the flagship newspaper of MediaNews Group Inc., founded in 1983 by William Dean Singleton and Richard Scudder. MediaNews is today one of the nation's largest newspaper chains, publisher of 61 daily newspapers and more than 120 non-daily publications in 13 states. MediaNews...
newspaper, and WordPress
WordPress
WordPress is a free and open source blogging tool and publishing platform powered by PHP and MySQL. It is often customized into a content management system . It has many features including a plug-in architecture and a template system. WordPress is used by over 14.7% of Alexa Internet's "top 1...
as to the identities of internet users alleged to have defamed him.
Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper
Riverkeeper
Riverkeeper is an environmental non-profit organization dedicated to the protection of the Hudson River and its tributaries, as well as the watersheds that provide New York City with its drinking water...
.