Daniel Loeb
Daniel Loeb founded Third Point LLC in 1995 with $3.3M in seed capital, including money from family and friends, and has grown it into one of the leading activist hedge funds. Third Point is known for its sharply worded shareholder letters, often addressed to underperforming management teams, which have become some of the most widely read documents on Wall Street. Loeb has targeted companies ranging from Yahoo and Sotheby's to Sony and Nestlé, pushing for management changes, divestitures, and strategic reviews.
Beyond activism, Third Point runs a diverse book spanning equities, credit, structured products, and private investments. Loeb is also a significant art collector and philanthropist, funding education reform initiatives in New York. He has evolved as an investor over his career — early in Third Point's history the fund focused heavily on distressed credit, while today it blends fundamental long/short equity with activist campaigns and macro overlays.
We want to own great businesses, managed by great people, at prices that make sense. When management disappoints, we believe shareholders have both the right and the responsibility to demand change.
— Daniel Loeb, Third Point LLC