Michael Burry Net Worth- Michael the person was born on June 19, 1971, in San Jose, California in the United States. By profession, he is an investor, physician, and hedge fund manager.
From the start of his life, Michael Burry focused on personal investment, so, he stopped to run his hedge fund Scion capital which he was running for the last eight years which was founded by him in 2000.
Before knowing about his billionaire career, let’s know about his personal life and education stream.
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How was Michael Burry’s early life and Education – Michael Burry?
As Michael Burry was born and grew up in San Jose, California. This was unlucky that in childhood when he was two years old he lost one eye due to retinoblastoma which is some kind of cancer that develops rapidly from the immune cells of the retina. After that, he has to implant an artificial eye that works like the human eye.
His childhood was full of struggles. He has to face lots of problems during education too because of his eyesight.
Santa Teresa High School was the first school of Michael Burry where he started to study.
After that, he earned an MD degree from the Vanderbilt University of School of Medicine in the subject of Economics and graduate in the stream of medical sciences.
As Michael James was very fond of financial investment. He also kept working on his hobby.
Although he was not practicing as a physician but to keep his license active by studying further.
How did Michael Burry become a billionaire?
Before his investment career, Michael Burry was a neurology resident and after that, he was also a resident at Stanford Hospital Pathology.
To start his career, he left his job and started his own hedge fund scion Capital fund investment plan.
He already was a famous investor as he got popular by demonstrating success in investment value funds. He usually used to write quotes on the Silicon Investment Website by participating in discussions of financial management in fund investment plans.
By this time many companies and investors were attracted to his investment plans and strategies and started investing in his hedge fund scion capital.
His stock-picking strategy was totally based on the margin of safety theory.
In 2000, he shut down his own website and started the hedge fund Scion Capital with the support of his family and investors.
Michael Burry was perfect in the prediction of trends. According to his prediction, S&P 500 was about to decline in trend in upcoming years.
Due to the continued fall of the S&P 500, Michael Burry was getting higher profits for his investors.
In the year 2001, S&P 500 fell by 11.88% and Scion was raised up to 55% in the same way. This trend was ongoing in the upcoming years. Eventually in 2003 S&P 500 raised its graph by 28% to 29%, but Michael burry managed to gain a 50% hike in returns.
By end of 2004, Michael Burry had $600 million and was able to generate massive profits from the technology boom in technology stocks by shorting expensive tech stocks funds.
Michael Burry Net Worth
Michael Burry suffered from investor revolt while he was investing in Credit Default Swaps. They are underestimating Michael’s predictions and started withdrawing their funds.
But Burry’s prediction went right and he earned up to $100 million in personal profits and was able to manage more than $700 million for his investors.
Ultimately Scion Capital recorded a value of 489% in eight years of investment plans.
According to his website, to start his personal investments, he liquidated his company.
In 2010, Michael Burry gave a statement that those who carefully investigated the financial market trends can recognize the risks involved in subprime markets.
Michael Burry reopened his hedge scion capital investment and later on is called Scion Asset Agreement. It has also been reported that Michael Burry also purchased an eight lakhs share of Tesla and invested 31 million in the ARKK ETF innovation index managed by Ark Invest.
Personal Life of Michael Burry Net Worth Overview
Michael Burry currently residing in Saratoga California with his family. His son also suffering from Asperger syndrome. Burry is fond of heavy metal music such as Lamb of God, Pantera.