Louis Bacon named among ‘the richest’ hedge fund managers in the world

Louis Bacon, successful hedge fund manager and environmentalist, has been named on therichest.org’s list of richest hedge fund managers.

Louis Bacon’s net worth was estimated to be $1.3 Billion by Forbes who rank him as #1107 richest Billionaire;#359 richest in the United States and on their #347 Forbes 400 List

The article explains how Louis Moore Bacon was born in Raleigh, North Carolina in 1956, to Zachary Bacon Jr. who was the founder of the real estate company Bacon & Co. and later the leader of Prudential Financial’s and Merrill Lynch’s real estate efforts in North Carolina.

Following Louis Bacon’s education from Episcopal High School in Alexandria, Virginia, through to receiving his B.A. in American literature in 1979, the article notes how Bacon started his career as a clerk at the specialist firm Walter N. Frank & Co. during the summers of his college years.

Bacon was awarded the MBA in finance at Columbia Business School in 1981 and while at Columbia, he honed his craft trading commodities using a low interest loan he had received.

This experience earned Bacon a role on the sales and trading program at Bankers Trust before he rejoined to Walter N. Frank & Co. to work trading currencies.

Bacon then moved to the New York Cotton Exchange and later as a broker and trader of financial futures at Shearson Lehman Brothers.

 He rose to the senior president for their futures trading division before leaving to found Remington Trading Partners in 1987.

Using his middle name, Louis Moore Bacon then founded Moore Capital Management LLC in 1989 and Moore Global Investments a year later in 1990.

In 1991, Louis Bacon had already climbed to 20^th place on the list of Financial World’s Top 100 Wall Street Earners.

In 2007, he purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family and pledged to protect it against development – even going so far as to spend $10m in a legal battle with an energy companies wanting to install power lines over the protected land.

Louis Bacon charity funds vital shark conservation in The Bahamas Shark Sanctuary

A charity set up by philanthropist Louis Bacon has donated to crucial research into one the world’s largest shark habitats in the Bahamas.

The Moore Bahamas Foundation, established by Louis Bacon, has generously funded an expedition be led by Dr. Demian Chapman and graduate student Mark Bond, from Stony Brook University.

The research expedition will try to identify areas of high juvenile shark populations in order to map out potential breeding and nursery habitats for sharks in the Bahamas.

The research, carried out by the Stony Brook University’s School of Marine and Atmospheric Science and the Cape Eleuthera Institute, will be conducted in a 6-week research cruise of The Bahamas Shark Sanctuary from May 7-June 15, 2013.

The Bahamas islands exist in a diverse eco-system where subtropical open ocean meets coral reefs with seagrass beds lined by rich mangrove forests.

The expeditions will also track the movements of the shark populations to determine how fishing habits of neighbouring countries affect the numbers of sharks in the Bahamas Sanctuary.

Staff from Microwave Telemetry Inc. will attempt to attach archival tags to any endangered oceanic whitetip sharks they find, to learn about their migration routes to mating and breeding grounds; while researchers from the University of Florida and University of North Florida will join the expedition to study their fine-scale hunting behaviour and reproductive biology.

The movements of critically endangered smalltooth sawfish will be tracked by researchers from the U.S. National Marine Fisheries Service to discover if the species breeds in The Bahamas.

The research team also hope to determine the movements of the endangered great hammerhead sharks providing a comprehensive profile of each species movements and habitual behaviour in the Bahamas area and underlining the importance of the shark in the local environment.

Philanthropist and successful hedge fund manager Louis Bacon founded The Moore Foundation in 1992 and thus far has funded dozens of conservation and research projects for over 20 years.

The foundation supports organizations that have protected and preserved thousands of acres of environmentally sensitive lands and water bodies.

Why Louis Bacon is the conversation hero of 2013

For more than two decades, philanthropist Louis bacon has been championing conservation and eco products across the world.

A keen sportsman in his youth, Louis has always felt a connection with the outdoors which inspired his lifelong love of the environment.

With this in mind, Louis Bacon used his middle name to create the Moore Charitable Foundation to support other charities which aim to preserve the natural world.

Now, Bacon has supported over 200 organisations from local to global statures, with the aim of conserving our planet.

Louis’ tactic of purchasing land and then donating it to conservation easements, aimed at developing natural habitats, includes a management plan on Robins Island, Long Island which creates a safe haven for shorebirds on the East coast.

Bacon has also been instrumental in creating a network of rice fields and marshes at Orton Plantation in North Carolina and his support of The Nature Conservancy created a 50-acre home for three protected bird species on Tern Island, New York.

Last year, Louis Bacon donated easements to the U.S. Fishand Wildlife Service (FWS) to forever protect 167,000 acres of the Blanca Trinchera Ranch in the Sangre de Cristo – the largest conservation easement ever donated to the organisation.

In his day job, Mr. Bacon is the founder and CEO of Moore Capital Management a successful global hedge fund management firm, allowing Louis to use his substantial resources in protecting the environment.

Louis is a leading supporter of the National Audubon Society, its state field operations and numerous chapters. In January, Louis Bacon was presented with the Dan W. Lufkin Prize for Environmental Leadership by the society to recognising his tireless work in preserving Trinchera Blanca Ranch in southern Colorado.

Recently, The Moore Bahamas Foundation agreed to fund an expedition to identify areas of high juvenile shark populations in the Bahamas to map out potential breeding and nursery habitats.

Work begins on New Suffolk Waterfront backed by Louis Bacon

Initial work to restore the New Suffolk Waterfront has begun thanks to support from hedge fund manager and philanthropist, Louis Bacon.

An old restaurant damaged by Hurricane Sandy has finally been moved to enable work to allow a new cafe to be built in the first steps towards restoring the area.

The renovation of the area is being funded by a series of fundraisers held by the Waterfront residents who have managed to raise $1.5 million, along with a state grant of $400,000, to purchase the parcel of land and the building.

Crucial additional funds will be raised through the sale of an acre of the southern part of the property to Louis Moore Bacon, owner of Robins Island and head of Robins Island Holdings, LLC.

Bacon is a renowned environmentalist who has fought for conversational projects for years through his charity the Moore foundation and also in a personal capacity.

He proposes to use the land to create a maritime grassland preserve with a portion for seasonal parking and the addition of a small boat shed to an existing building on the property.

The moving of the old Galley Ho building is the crucial first action in the process of redevelopment after the Southold Town zoning board of appeals recently approved a cafe use on the property. Once the building is redeveloped it will be moved to a new permanent home.

 Barbara Schnitzler, chair of the New Suffolk Waterfront Fund, said: "It took awhile but we’re really happy with the outcome, it's the best outcome we could have hoped for.

“This won’t increase traffic or density, and it allows us to finish the acquisition and preserve the viewshed. It's a really good resolution and we're thankful."

To restore the landmark building, fundraisers will be held throughout the year. Among them are a direct donation appeal, a chowder fest, a house tour in New Suffolk and an oyster and champagne cocktail party with an art auction.

The new cafe replacing the old restaurant aims to have the same feeling as the old restaurant, but on a smaller scale, with 66 seats instead of 95 and an outdoor deck.

Schnitzler added: "We want to make it a very relaxed place but maintain the character and the atmosphere of what was there."

Louis Bacon helps local residents preserve New Suffolk Waterfront

 Louis Bacon has offered funds to a residents group hoping to save their waterfront community from falling into disrepair and neglect.

The $1.1 million offered to the New Suffolk Waterfront Fund has helped them purchase the property from the Peconic Land Trust and pay off its $1.5 million mortgage with further monies from a state grant.

The Southold Town Planning Board is due to vote in a few weeks as to whether to approval should be granted to the proposed preservation of the New Suffolk waterfront.

The planning board will decide whether to allow the New Suffolk Waterfront Fund, established in 2005, to split off an acre of its property and deed it over to the company that owns Robins Island.

The Waterfront Fund will then retain nearly two and half acres of land to renovate and preserve for future generations. This land includes the former Galley Ho restaurant, a historic barn, a community garden and a portion of southern beach.

By raising income from sale of the site to Louis Bacon, it is hoped the waterfront fund can also raise enough money to establish a community centre/snack bar, transient dockage and a small marina in the area.

Forbes covers Louis Bacon’s award at the Audubon Society Gala

A recent article published on the Forbes website, covering the Audubon Society Gala where Louis Bacon was presented with an award, has recognised the philanthropist’s devotion to the environment.

Louis Bacon was presented with the Dan W. Lufkin Prize for Environmental Leadership by the society in recognition of his fight to preserve Trinchera Blanca Ranch in southern Colorado, by placing 170,000 acres of land into a conservation easement, the largest ever in the state.

The article states how Louis Bacon has spent close to $400 million on 202,000 acres of land in the United States which have been placed into easements already or will be soon: Land which includes Robins Island in New York’s Peconic Bay, which he donated to the Nature Conservancy and an ancestral plantation in North Carolina. The article notes that Bacon has also worked to preserve land internationally in Scotland and the Bahamas.

During his acceptance speech, Bacon quoted from, what he referred to as, the Holy Book of the South: Gone With the Wind. “Scarlett’s father admonishes her for her disregard of her plantation home. He says, ‘Land is the only thing in the world worth working for, worth fighting for, worth dying for, because it’s the only thing that lasts,’ ” Bacon recited. “ Kind of sums up my philosophy,”

Bacon’s Moore Charitable Foundation recently gifted Audubon with funds for a resource centre that will focus on training advocates to fight needless energy developments that would affect the environment in a negative way. Louis Bacon has firsthand experience in this area, having spent over $10m to defend the Trinchera Blanca Ranch from energy companies planning to install power lines.

Louis Bacon named by Forbes as one of the greenest billionaires in the world

With a tough economic climate and austerity restricting governments across the world in their ability to fund conversation projects, many feel that the onus now rests on the world’s billionaire to use their considerable wealth for environmental causes.

Philanthropist Louis Bacon was recently named as one of the top ten greenest billionaires in the world following years of purchasing land and donating it to green projects.

Billionaires Elon Musk and Aloys Wobben of Germany, have founded their own renewable energy businesses; Christy Walton has invested in them; while others like Ted Turner and Louis Bacon  chose to preserve land by ranching it or giving it over for conservation.

Louis Bacon purchased the Trinchera Ranch from the Forbes family in 2007 and the $175 million price tag made it the most expensive residential sale in the history of the U.S.

For nearly two decades Louis Bacon has been assembling a portfolio of landscapes in New York, North Carolina and Colorado, and donating them to conservation easements, permanently saving them from further development.

Bacon even spent more than $10 million fighting a joint venture between Xcel Energy and Tri-State Generation & Transmission, which proposed to build “green” line that would carry solar energy across his ranch land, 90,000 acres of which have been donated to the U.S. Fish & Wildlife Service.

Louis Bacon’s dedication to the environment is now twenty years old as, in 1993, he bought Robins Island, a 434-acre, in the middle of Great Peconic Bay off Long Island, for $11 million out of bankruptcy and donated it four years later Nature Conservancy.

Although Bacon has donated thousands of acres to conversation, most of his environmental activism has been in the form of donations. (Bacon has given $50 million in the last 12 years to such environmental and educational groups as Riverkeeper, the Natural Resources Defense Council, Friends of the Earth and the Sierra Club Foundation.)

The National Audubon Society also presented him its prestigious Audubon Medal earlier this year.