Jeffrey Vinik
| Jeffrey N. Vinik | |
|---|---|
| Born |
March 22, 1959 Deal, NJ, USA |
| Nationality | United States |
| Alma mater |
Duke University (B.S., Civil Engineering, 1981) Harvard Business School (MBA, 1985) |
| Occupation | businessman, philanthropist |
| Known for | owner of professional sports teams |
| Religion | Judaism |
| Spouse(s) | Penny Vinik |
Jeffrey N. Vinik (born March 22, 1959) is the current owner of the Tampa Bay Lightning (NHL) and the Tampa Bay Storm (AFL),[1] as well as a minority owner of the Boston Red Sox (MLB).[2] He is also on the board of directors for Liverpool Football Club of the Premier League.[3]
Early life
Vinik was born to a Jewish family[4] in Deal, New Jersey.[5] He graduated Phi Beta Kappa from Duke University in 1981 with a bachelor of science in civil engineering.[6] He also obtained an MBA from Harvard Business School in 1985.
Career
Vinik managed the Fidelity Magellan Fund from 1992 to 1996, where he averaged 17% annual returns.[7] After leaving Fidelity, he started hedge fund Vinik Asset Management, with partners including Michael Gordon (now President of Fenway Sports Group). He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio.[5] Vinik and his partners closed down the fund in December 2013, and distributed $9Bn in assets.
In 2010, he purchased the Tampa Bay Lightning from Oren Koules and Len Barrie for $170 million.[8]
Philanthropy
In 1998, Vinik and his wife, Penny, donated $1.25 million to endow a professorship at Duke's engineering school. The next year, they donated $5 million towards facilities at the engineering school.[9] In 2012, they donated $10 million to create a challenge fund to endow associate and full professorships dedicated to addressing complex societal challenges.[10] He donated $1.5 million to build a new Jewish Community Center in South Tampa.[11][4][12]
References
- ↑ "Lightning (NHL) Owner, Vinik, Purchases Storm". Arena Football League. January 13, 2011. Retrieved January 13, 2011.
- ↑ "Jeff Vinik Agrees to Purchase Tampa Bay Lightning". Tampa Bay Lightning. February 5, 2010.
- ↑ "Liverpool confirm 5 new directors". Anfield Online. November 13, 2010.
- 1 2 St. Louis Jewish Light: "As Lightning vies for Stanley Cup, the team’s Jewish owner chats with JTA" Jun 8, 2015.
- 1 2 Times Staff (February 5, 2010). "Who is Jeff Vinik?". Tampa Bay Times.
- ↑ "Stock Picker Vinik Turns to ETFs After Beating Market". Bloomberg Business. December 17, 2010.
- ↑ "Corporate Leadership in a Globalising Equity Market" Useem, Michael (1998) in Academy of Management Executive
- ↑ ESPN: "Vinik agrees to buy Lightning" by Pierre LeBrun February 5, 2010
- ↑ Greg Pessin (January 11, 2000). "Investor donates to Pratt facilities". The Chronicle (Duke University).
- ↑ Times Staff (May 8, 2012). "Tampa Bay Lightning owner Jeff Vinik gives $10 million to Duke University". Tampa Bay Times.
- ↑ Jewish Tampa: "New JCC Project Garnering Significant Support" retrieved July 12, 2014 | "Jeff Vinik added, “We're excited to be a part of the creation of an additional JCC presence in Tampa, and we know this will be transformative for so many members of our community."
- ↑ Jewish Press of Pinellas County: "Bucs, Lightning owners lead donors for south Tampa Jewish Community Campus" January 17, 2014
| ||||||||||||||||||||||||||||||