Michael Burry is a physician, hedge fund manager, and investor of American nationality. His journey from a doctor to a multi-millionaire investor has been inspiring. Of course, his story has many ups and downs, but Michael has withstood all the hurdles that came along with strong willpower.
The investor gained popularity after being the founder of Scion Capital LLC and one of the first investors to foresee and profit from the subprime mortgage crisis between 2007 and 2010. Still, there is much to unveil about Michael, so we are bringing this short biography covering all the important details.
Started Scion Capital From Inherited Money
The American investor was born Michael James Burry on June 19, 1971, in San Jose, California, United States. He was welcomed into this world by highly loving parents. Unfortunately, Michael Burry's father died due to misdiagnosis; a doctor failed to spot cancer on an X-ray.
As a result, Michael's family received a small settlement, and his investment was made possible by the dividend from his dad's passing. The investor started the hedge fund Scion Capital from the fund inherited from his father. Furthermore, Burry's mother contributed $20,000 from her settlement, and each of his three brothers kicked in $10,000.
Speaking of his educational background, he studied at Santa Teresa High School. Later, Michael studied pre-med and economics at the University of California, Los Angeles. The investor received his MD degree from the Vanderbilt University School of Medicine. He started his residency in pathology at Stanford University Medical Center but did not finish. Since the San Jose native was passionate about financial investing, he used to work on it after off duty at night.
Michael Burry Net Worth - $300 Million
Michael has made a name for himself as an investor, businessman, and hedge fund manager. He founded Scion Capital LLC in November 2000 and correctly predicted the 2008 real estate market crash through Scion, earning a fortune. Michael had more than $600 million worth of assets by 2004 under management. As a result of his professional ventures, Michael Burry's net worth is a massive $300 million.
The physician had liquidated his credit default swap short positions by April 2008; therefore, the economic bailouts in 2008 and 2009 were not advantageous to him. Then, to concentrate on his investments, he sold his company.
Furthermore, the investor rose to fame after it came to light that he made a $1 billion bet against the subprime mortgage market ahead of the 2008 Great Recession. Although the bet was a loser for a long time, he was eventually correct. Burry's fund eventually earned $700 million for his investors and $100 million personally. The San Jose native's other popular bet has been video game retailer GameStop. Burry revealed he had acquired 3 million shares of GameStop in March 2020.
Moreover, in 2013, Michael restarted his hedge fund under the name Scion Asset Management. He then focused primarily on purchasing gold, farmland, and water. His firm has also made sizable investments in Alphabet Inc., the parent company of Facebook and Google.
As a result of his remarkable achievements, Michael has been written about and depicted on film and in books. For example, in Michael Lewis' 2010 non-fiction book named The Big Short: Inside the Doomsday Machine, where he had a more significant part as one of the subjects. The book was adapted into The Big Short, a 2015 film, and Christian Bale portrayed him.
The film earned a lot of praise; it was nominated for five Academy Awards and won one for Best Adapted Screenplay. For Bale's depiction of Burry, he was also nominated for Best Supporting Actor. Overall, all thanks to Michael Burry's massive earnings, he can amass multi-millions to his name.
Blair Parry-Okeden is another billionaire with a net worth of $7.6 billion. Her net worth comes from her inherited wealth from Cox Enterprises.
All About Michael Burry's Wife And Children
Talking about the investor's personal life, he has been married twice in his lifetime. Michael Burry's first wife was of Korean descent. Although not much is known about his first partner, she lived in a different city and might have divorced because of it.
Furthermore, the millionaire's current partner is of Vietnamese-American descent. The two met on Match.com. However, since the physician is extremely private about his personal life, significantly less is known about Michael Burry's wife, their wedding timeline, and marriage details. Still, the duo currently lives in Saratoga, California.
Besides, the Scion Capital's founder is a wonderful parent to two adult sons. Unfortunately, one of Michael Burry's children was diagnosed with Asperger syndrome, and later, he found out that he, too, has the condition. Nonetheless, business personalities often prefer to maintain their personal life low-key for several reasons, and we should respect their boundaries.
Michael Burry is a happily married man with two sons. Image Source: Social Media.
Michael Burry, who made a fortune during the Great Recession betting against the subprime mortgage market, has recently emerged as a prominent voice cautioning investors about the economy's lurching downward trend.
Trivia And Facts
- Burry has kept his license active with the Medical Board of California,
- Michael has a prosthetic eye because he lost his left eye to retinoblastoma at two.