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. In 2017, it was reported the firm returned 18.1% net of fees in the first 11 months of the year. In 2015, the firm returned -1.4%, while the S&P 500 returned +1.4%. Loeb appeared in Forbes' 2013 list of the world's 40 richest hedge-fund managers and traders.
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. Under Loeb's guidance, Third Point Management's annualized returns since inception (Dec. Loeb started Third Point Management in 1995 "with $3.3 million from family and friends".
He moved on to become a Citigroup vice president from 1994–95, in charge of high-yield bond sales. After Island Records, Loeb worked as a risk arbitrage analyst at Lafer Equity Investors and then, from 1991–94, 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 then worked as director of corporate development at Island Records, a record label, where he focused on securing debt financing. Investing career įrom 1984-87, Loeb worked at private equity firm Warburg Pincus. The loss taught him a lesson, he later said, in "overconcentrating positions". By his senior year at Columbia, he had made $120,000 in the stock market, but lost it all on an investment in a firm called Puritan-Bennett Inc. At Columbia, he was a classmate of Barack Obama, whose presidential campaign he later offered significant financial support. Loeb attended the University of California, Berkeley for two years and subsequently graduated from Columbia University with an economics degree in 1983. I think it was a very powerful enforcer early on to like business." In 2009, Loeb told an audience " associated success in business with Hot Wheels and Barbie dolls. Loeb's great-aunt, Ruth Handler, created the Barbie doll and co-founded Mattel Inc. His mother is a historian and independent scholar. for over 30 years and during one period became interim President of Mattel. His father also served as an outside director of Mattel, Inc. His father was a partner at the Los Angeles law firm of Irell & Manella LLP and general counsel for Williams-Sonoma, Inc. In high school, 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). He was raised in Santa Monica, California where he attended Palisades Charter High School. Loeb is the son of Ronald and Clare (née Spark) Loeb.
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