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 20th 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.