In 2023, people have been very interested in Michael Burry’s income and net worth. Burry has earned a lot of fame and money over the years. He is known for his great business strategies and unique way of looking at the financial market.
In this article, we will delve into Michael Burry net worth, life, career, and personal details.
What is Michael Burry’s Net Worth and Salary 2023
Michael James Burry is an American investor, hedge fund manager, and physician. His financial knowledge and investment techniques are well-known. In 2000, Burry started the hedge fund Scion Capital.
In 2013, he started the firm Scion Asset Management. He got a lot of attention for being right about the subprime housing disaster, which happened from 2007 to 2010.
By changing collateralized debt obligations (CDOs) to short the 2007 mortgage bond market, he made $100 million for himself and $700 million for his clients. As of 2023, Michael Burry’s net worth is estimated to be around $300 million.
Why is Michael Burry famous?
Michael Burry is well-known for being the first person to correctly predict the financial collapse of 2008. He became well-known because he was one of the first people to predict the housing market bubble and the subsequent collapse that led to the global financial crisis.
At the time, Burry was a head of a hedge fund and an investor. He did a lot of study and analysis on the subprime housing market. He knew that the high number of subprime loans and the complicated financial tools that went with them posed risks.
He is best known for being one of the first investors to see and profit from the subprime mortgage crisis that occurred between 2007 and 2010.
Michael Burry Overview
|Michael James Burry
|June 19, 1971
|52 years old
|San Jose, California
Bachelor’s degree in economics at the University of California, Los Angeles; M.D. from Vanderbilt University School of Medicine
|Two adult sons
|Source of Wealth:
|Investment and hedge fund management
|5ft 6in (1.70m)
Burry was born on June 19, 1971, in San Jose, California, where he grew up. He comes from Rusyn people. He lost his left eye to retinoblastoma when he was two years old. Since then, he has worn a fake eye. He went to Santa Teresa High School when he was a teen.
He went to the University of California, Los Angeles, to study economics and get ready for medical school.
He got his MD from Vanderbilt University School of Medicine and started his training in pathology at Stanford University Medical Center, but didn’t finish it. When he was off duty at night, he did his hobby, which was investing money.
Michael James Burry is a well-known businessman, head of a hedge fund, and doctor in the United States. His job path is unusual because he first wanted to be a doctor and then switched to business.
He studied medicine at the University of Los Angeles, got his doctorate at Vanderbilt Medical School, and finished his training as a neurologist at Stanford.
But he was so interested in money that he quit being a doctor and started his hedge fund, Scion Capital, in 2000.
Burry’s financial style was different from the herd mindset. He focused on value investing, an idea he built on Benjamin Graham and David Dodd’s 1934 book Security Analysis.
During the time he was paying for the credit default swaps, Burry had an investor revolt. Some people in his fund thought his estimates were wrong, so they asked for their money back.
In the end, Burry’s prediction was right. He made a profit of $100 million for himself and more than $700 million for his other partners.
Between the time it opened on November 1, 2000 and June 2008, Scion Capital made a total return of 489.34% (after fees and costs). During the same time period, the S&P 500, which is often used as a measure of the US market, returned just under 3%, including profits.
In 2008, Burry closed Scion Capital to focus on its assets. But in 2013, he got back into investing by starting Scion Asset Management, a private investment company with offices in Saratoga, California.
As of March 2022, the company was in charge of about $201 million in assets.
Burry’s business methods and success have made him a lot of money and brought him much attention. Christian Bale portrays Burry in the 2015 film The Big Short, which was about important people in the subprime housing disaster, told his story.
Even though Burry moved into business, he kept his license as a doctor by meeting the Medical Board of California’s standards for continuing education.
Michael Burry is best known today for the wise investments he made and the unusual way he went from being a doctor to becoming a financier.
Dr. Michael Burry is skeptical about Bitcoin and other coins. He has worried many times about how risky they are and how they could cause asset bubbles.
One thing that makes him uneasy is that there is a lot of power in the crypto environment, which can be used through both centralized and decentralized markets. He thinks there could be big problems if big buyers need to get out of their positions quickly.
But Burry also understands that Bitcoin could be a good hedge in certain economic situations. For example, if the Federal Reserve were to lower interest rates and add money to the market, Bitcoin could be a good substitute bet.
Burry was married and had kids in 2010. He lived in Saratoga, California. His son was labeled with Asperger syndrome, and after reading about the disease, Burry thinks he has it too.
FAQs about Michael Burry
What is Michael Burry’s social account?
Did Michael Burry lose money in The Big Short?
Burry’s bet paid off handsomely, earning him a hefty personal profit of $100 million and more than $700 million for his remaining investors. Ultimately, Scion Capital documented returns of 489.34% between its November 1, 2000, founding and June 2008.
Does Michael Burry only invest in water?
Michael Burry is focusing all of his trading on one commodity: Water. This is a perplexing statement because, unlike other commodities like oil, cotton, or silver, there is no market to trade water.
Did Michael Burry sell his stocks?
Burry held the stock for a brief period during the second quarter of 2021 and the first quarter of 2022. He sold off the stake completely during the second quarter of 2022.
Michael Burry has used his knowledge of the finance and investment world to amass a great fortune. His unorthodox thinking and strategies have helped him not only make money for himself, but also for his clients. To this day, he continues to make wise investments and use his financial expertise to increase his wealth. Thank you for reading.