Hedge fund manager Daniel Seth Loeb founded Third Point LLC on June 1, 1995 with $3.4 million in capital.
The then-33-year-old had money from only five investors—all friends and family—and his own capital.
Today, the billionaire activist investor oversees around $17.5 billion in assets.
Since those early days, he has made a reputation for himself as a formidable money manager. As one fund manager recently put it, "he's one of the best investors of our generation."
So who is this activist investor? We're going to a take a tour through Loeb's life and find out.
Daniel Seth Loeb is a West Coast kid born and raised.
The hedge fund manager was born on Dec. 18, 1961. (He definitely looks younger than 53)
Loeb, the son of Ronald and Clare Spark Loeb— a lawyer and a historian/Melville scholar, respectively— grew up in sunny Santa Monica, California.
When Loeb was 9, his parents divorced. He lived with his dad, while his two sisters lived with his mom.
Growing up near the beach, Loeb always been a life-long surfer.
Even in his early fifties, Loeb still catches waves.
During his talk at the Jewish Enrichment Center in 2009, Loeb said that he has a "secret spot" in the Caribbean and he second favorite place in the world to surf is in Indonesia.
Source: Jewish Enrichment Center
Loeb, who's still known for his big mouth, had to hire a bodyguard to protect him in middle school.
Loeb used to get himself into trouble in the schoolyard with his big mouth.
So when he was 12 years-old at Paul Revere Junior High School in L.A., he hired his classmate Rob Schwartz for 25 cents a day to be "bodyguard" to protect him from bullies.
By the way, it looks like Schwartz works with Loeb today on his fund's venture capital arm, Third Point Ventures.
See the rest of the story at Business Insider