Stanley Freeman Druckenmiller Net WorthReal Name: Stanley Freeman Druckenmiller
Date of Birth: 06/14/1953
Place of Birth: Pittsburgh, Pennsylvania
2017 Net Worth: $4.4 Billion
2016 Earnings: $260 Million
Profession: Hedge Fund Manager
Stan, Stanley, Stanley Druckenmiller Biography
Stanley Druckenmiller was born in June of 1953 in Pittsburgh, Pennsylvania. He lived in a middle class neighborhood in the suburbs. His parents divorced when he was still young and he lived with his father in New Jersey, then later in Virginia. He attended Collegiate School in Richmond, Virginia and graduated with a BA in English, later he attended Bowdoin College where he received a degree in economics. He attended the University of Michigan, but dropped out of his three year Ph.D. program during his second semester to work as an oil analyst for Pittsburgh National Bank in 1977.
Druckenmiller may have started off as an apprentice, but he was soon the head of equity research. Druckenmiller left Pittsburgh National Bank after three years and founded Duquesne Capital Management. While managing his own business, Druckenmiller also had stints working as the head of the Dreyfus Fund. He went to work for George Soros at Quantum Fund, where Druckenmiller and Soros actually “broke the Bank of England” when they shorted the British pound Sterling in 1992. This deft maneuver earned this duo a $1 billion in profit. He stopped working with Soros in 2000 after taking huge hits in tech stocks. Duquesne Capital Management had posted average returns of 30 percent and there were no years that had losses. However, Druckenmiller’s funds were down about 5 percent when he announced his retirement.
Druckenmiller and his wife created the Druckenmiller Foundation, which supports medical research, education, and efforts to fight poverty. This foundation has donated $100 million to New York University’s Langone Medical Center for a neuroscience institute as well as $25 million to the Harlem Children’s Zone. Druckenmiller is a huge golf fan and has been a member of the Oakmont Country Club for more than 30 years. He has a current net worth of $4.4 billion.