Stanley Druckenmiller
| Stanley Druckenmiller | |
|---|---|
| Born |
Stanley Freeman Druckenmiller June 14, 1953 Pittsburgh, Pennsylvania, U.S. |
| Residence | New York City, New York, U.S. |
| Alma mater | Bowdoin College |
| Occupation | Investor, hedge fund manager and philanthropist |
| Known for | Founding and managing Duquesne Capital Managing the Quantum Fund with George Soros |
| Net worth | US$4.4 billion (January 2017) |
| Spouse(s) | Fiona Katharine Biggs |
| Children | 3 |
Stanley Freeman Druckenmiller (born June 14, 1953) is an American investor, hedge fund manager and philanthropist. He is the former chairman and president of Duquesne Capital, which he founded in 1981. He closed the fund in August 2010 because he felt unable to deliver high returns to his clients. At the time of closing, Duquesne Capital had over $12 billion in assets.
From 1988 to 2000, he managed money for George Soros as the lead portfolio manager for Quantum Fund. He is reported to have made $260 million in 2008.
Druckenmiller was born in Pittsburgh, Pennsylvania, the son of Anne and Stanley Thomas Druckenmiller, a chemical engineer. He grew up in a middle-class household in the suburbs of Philadelphia. His parents divorced when he was in elementary school and he went to live with his father in Gibbstown, New Jersey (a section of Greenwich Township, Gloucester County, New Jersey) and then in Richmond, Virginia (his sisters, Helen and Salley, would stay with their mother in Philadelphia). Druckenmiller is a graduate of Collegiate School, Richmond, Virginia. In 1975, he received a BA in English and economics from Bowdoin College (where he opened a hot dog stand with Lawrence B. Lindsey, who later became economic policy adviser to President George W. Bush). He dropped out of a three-year Ph.D. program in economics at the University of Michigan in the middle of the second semester to accept a position as an oil analyst for Pittsburgh National Bank.
Druckenmiller began his financial career in 1977 as a management trainee at Pittsburgh National Bank. He became head of the bank's equity research group after one year. In 1981, he founded his own firm, Duquesne Capital Management.
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