Billionaire investor Michael Novogratz has had extensive experience in finance. Before becoming CEO of Galaxy Investment Partners, he had already invested in Bitcoin and other cryptocurrencies.
American billionaire Michael Edward Novogratz was born on November 26th, 1964, and grew up in Alexandria, Virginia. His father was a career officer and major in the United States Army, and his mother ran an antique business.
Novogratz is the third of his parents’ children. Jacqueline Novogratz is the founder and CEO of the Acumen Fund, Robert Novogratz is a designer who has appeared on the television series Bravo by Design, and John Novogratz is Senior Managing Partner at Millennium Partners.
When Novogratz was 25 years old, he went on a blind date with Dora Cáceres, whose nickname is Sukey. In many ways, she was the complete opposite of him as she was an intellectual interested in semiotics, film theory, and the teachings of Ram Dass. However, they currently have four children.
Michael Novogratz’s Performance
Novogratz began his career with Goldman Sachs in 1989. Before that, he had served in the New Jersey National Guard, where he was a helicopter pilot.
In 1992, he took a sales position for Goldman in Tokyo. Finally, Jon Corzine sent him to Hong Kong to run a dealing desk for the company until 1999.
In 1998, he became a partner at Goldman, where he held positions including president of Goldman Sachs Latin America and director of fixed income, currency and commodity risk in Asia.
In March 2002, he joined Wesley Edens, Robert Kauffman, Randal Nardone, and Peter Briger Jr. at Fortress Investments to take the company public until its initial public offering (IPO).
Other Novogratz’s Functions
He was Co-Director of Information and Director of Macro Funds at Fortress Investment Group LLC before assuming his duties as director of Fortress Credit Corporation in 2006. He retired from Fortress Investments in October 2015.
In 2010, New York Governor David Paterson appointed him to the Hudson River Park board of directors.
Novogratz is the president and founder of Beat the Streets, a non-profit organization that promotes the sport of wrestling in New York public schools.
He is also the honorary chairman of the USA Wrestling Foundation and president of The Friends of the Hudson River Park.
However, Novogratz is primarily the CEO of Galaxy Investment Partners, a cryptocurrency investment firm.
His Participation in Bitcoin
Michael Novogratz first started buying cryptocurrencies before retiring from Fortress and becoming the CEO of Galaxy Investment Partners.
Three years ago, he revealed that he held 20% of his net worth in Bitcoin and Ether, on which he made a profit of over USD 250 million. Specifically, he received that amount for a purchase of 30,000 bitcoins (BTC) and half a million ethers (ETH).
Last month, Michael Novogratz said that he won half Bitcoin on an electoral bet and handed it over in a self-hosted lottery to a Twitter user.
“I won an electoral bet with @StoneyBitson. I am going to have a lottery for young Bitcoiners for that coin. I am thinking of a number between 1 and 1,000. Whoever guesses will receive it.”
Twitter user @Adelgary won the lottery by guessing the number 826. Novogratz said that he had chosen the number because he had lived for seven years in China, where people consider the number eight to be lucky. Besides, 26 represents his date of birth.
To conclude, Mike Novogratz believes that everyone should buy Bitcoin since Satoshi Nakamoto designed it for all kinds of investors. He specifically recommends investing 2% to 3% of one’s net worth and holding until 2025.
By Alexander Salazar
