Michael Novogratz Biography
Michael Novogratz is a former partner of the investment firm Fortress Investment Group who is presently the CEO of Galaxy Investing Partners, a cryptocurrency investing firm.
He went to Fort Hunt High School. Novogratz was the runner-up in Virginia high school wrestling before becoming the Princeton Wrestling captain. In 1986 and 1987, he qualified for the National Collegiate Athletic Association (NCAA) wrestling finals (both at 150 pounds (68.0 kg). Novogratz has an A.B. in economics.
Michael Novogratz Wife
His wife, Dora “Sukey” Caceres, and he have four children.
Michael Novogratz Family (Parents and Siblings)
Novogratz was raised in Alexandria, Virginia, as the third of seven children of West Point football player and 1958 Knute Rockne Award recipient Robert, Sr. His sister, Jacqueline Novogratz, is the founder and CEO of Acumen Fund, and his brother, Robert Novogratz, is a designer who has been featured on Bravo’s 9 by Design. John Novogratz, another brother, is a senior managing partner at Millennium Partners.
Michael Novogratz Tattoo (Does Mike Novogratz have a Luna tattoo?)
Novogratz proudly displayed his wolf-themed tattoo to his 461,000 Twitter followers as a gesture of support for the now-defunct Terra ecosystem. Terra’s TerraUSD (UST) stablecoin, which relied on an algorithm to keep its peg to the US dollar, crashed last week, plunging the price of its sibling cryptocurrency LUNA from $60 to $0 in less than 72 hours. The collapse took off over $40 billion from the cryptocurrency economy.
Michael Novogratz House
In 2006, he paid $12.25 million for Robert De Niro’s duplex in Manhattan’s Tribeca area. When he moved into De Niro’s former Meatpacking District home, Mickey Rourke moved into Novogratz’s previous Meatpacking District home. They also have a home in Amagansett, New York, just outside of New York City.
Michael Novogratz Net Worth
Novogratz was ranked #317 on the Forbes 400 in September 2007, with a net worth of $1.5 billion. With a net worth of $1.2 billion, he was ranked 962 on the Forbes list of world billionaires in March 2008. The same year, he joined Kappa Beta Phi, a Wall Street “secret society” of rich finance executives. After the collapse in the value of Fortress’ stock in 2012, his net worth dropped to $500 million. He is an advocate for Democratic political goals. He is also the Chair of The Bail Project’s Governing Board.
Michael Novogratz Crypto (Galaxy)
Galaxy Investment Partners, a cryptocurrency investment firm, is led by Novogratz. He had planned to launch his Galaxy Digital Assets Fund on December 15, 2017, however, he postponed the launch because he “didn’t like market conditions.”
Galaxy Digital Holdings Ltd. is one of the few cryptocurrency companies that must report financial results. The corporation lost $136 million in cryptocurrency trading in the first nine months of 2018. Galaxy Digital participated in an $80 million fundraising round for technology company Bitfury in 2017.
Galaxy’s losses increased to 554 million in the second quarter of 2022, following a loss of 182 million the previous year. In 2017, he indicated that Bitcoin and Ethereum accounted for 20% of his total wealth. He claims to have generated $250 million from cryptocurrency between 2016 and 2017. Novogratz bragged at a 2022 cryptocurrency conference that he was the “only guy in the world with both a Bitcoin tattoo and a Luna tattoo.” UST (the algorithmic Terra Luna stable coin), which promised to be tied to the US dollar, lost nearly all of its value a few weeks later.
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