Leon Cooperman | $1B+
Get in touch with Leon Cooperman | Leon Cooperman, founder of Omega Advisors, is one of Wall Street’s most respected value investors, known for decades of disciplined stock-picking and outspoken market commentary. After a long career at Goldman Sachs, where he led the asset management division, Cooperman launched Omega in 1991 and produced strong returns through concentrated, research-driven investing in equities and credit. Though he has since converted Omega into a family office, he remains active in markets and philanthropy, donating hundreds of millions to education, medical research, and Jewish causes. Cooperman’s blend of candor, conviction, and lifelong commitment to investing has made him a defining figure in the hedge fund era.
Leon G. Cooperman (born April 25, 1943) is an American billionaire investor and hedge fund manager who founded Omega Advisors in 1991 after a 25-year career at Goldman Sachs, where he rose to chairman and CEO of its asset management division.[1][2][3]
Born in New York's South Bronx to Polish Jewish immigrant parents, Cooperman earned a bachelor's degree from Hunter College and an MBA from Columbia Business School before entering finance as a quality control engineer at Xerox and later joining Goldman Sachs in 1967.[4][1] At Omega, his value-driven investment approach generated returns that frequently outperformed the S&P 500, managing billions in assets until converting the firm to a family office in 2018 amid regulatory pressures.[5][1] With a net worth of $3.6 billion as of October 2025, primarily from hedge fund success, Cooperman has committed to substantial philanthropy through the Giving Pledge, including a $100 million donation to rename Saint Barnabas Medical Center and support for education initiatives like the Cooperman College Scholars program at Hunter College.[1][6][7]
Cooperman's career included a notable controversy when the SEC charged him and Omega in 2016 with insider trading based on tips from a corporate executive, leading to a 2017 settlement of $4.9 million in penalties and disgorgement without admission or denial of wrongdoing after he contested the allegations in court.[8][9][10]
Early life and education
Childhood and family background
Leon Cooperman was born on April 25, 1943, in New York's South Bronx to working-class Jewish parents who had immigrated from Poland.[4][11] His father worked as a plumber, described by Cooperman as a workaholic who emphasized diligence and self-reliance, while his mother managed the household.[4][12] The family represented the first generation of Polish immigrants escaping pre-Holocaust conditions in Europe, settling in the United States during the interwar period.[13]
Cooperman grew up in a modest one-bedroom apartment amid the economic hardships of post-World War II New York, where his parents' frugality and focus on practical skills shaped a household ethos of personal responsibility over external dependencies.[11] As the first in his family to attend college, he later attributed his trajectory to this environment, which prioritized education as a pathway out of poverty through individual effort rather than institutional aid.[7]
In his teenage years, Cooperman took on manual jobs such as bagging fruit and changing tires, experiences that reinforced a grounded understanding of economic realities and the value of labor in building opportunity.[14] These formative activities, combined with his parents' immigrant-driven determination, cultivated an early discipline that Cooperman has credited with fostering his lifelong aversion to entitlement and preference for merit-based advancement.[4]
Academic pursuits and influences
Cooperman attended public schools in the South Bronx, including Public School 75 and Morris High School, which provided a foundation in a merit-based educational environment during his formative years.[15] These institutions, accessible without tuition barriers, exemplified the role of rigorous public education in enabling upward mobility for children from working-class families like his own, where his father was a plumber.[1]
He earned his undergraduate degree from Hunter College, a public institution within the City University of New York system, graduating in 1964.[16] Following a brief stint as a quality control engineer at Xerox, Cooperman secured admission to Columbia Business School on scholarship, reflecting his academic merit and determination despite limited financial resources.[17] He completed his MBA there in 1967, balancing studies with part-time employment that emphasized practical application over purely theoretical pursuits.[11]
At Columbia, Cooperman first encountered the principles of value investing, a methodology rooted in identifying undervalued securities through fundamental analysis, which the school's curriculum promoted as a disciplined, evidence-based approach to finance.[11] This exposure, drawn from the institution's historical emphasis on empirical evaluation pioneered by figures like Benjamin Graham, laid the groundwork for his subsequent data-driven investment strategies, contrasting with contemporary views that question the practical return on investment in higher education amid rising costs and diluted curricula.[18] His trajectory through tuition-free public undergraduate education and merit-based graduate access highlights how such systems facilitated exceptional outcomes for motivated individuals in the mid-20th century, before shifts in funding and priorities altered their accessibility and focus.[17]
Investment career
Rise at Goldman Sachs
Cooperman joined Goldman Sachs on February 1, 1967, immediately following his MBA graduation from Columbia Business School, starting as an analyst focused on portfolio strategy within the firm's research department.[11] His early work emphasized rigorous fundamental analysis of equities, contributing to Goldman's meritocratic environment where individual performance directly drove advancement, unencumbered by later regulatory expansions that diluted partnership incentives.
Through consistent excellence, Cooperman was promoted to partner in 1976, assuming leadership of the research department, a role he held for a decade while chairing the investment policy committee from 1974 to 1986.[11][19] He earned top rankings as the leading portfolio strategist on Institutional Investor's All-America Research Team annually from 1977 to 1985, reflecting a low-error track record in identifying undervalued securities amid 1970s market volatility, including oil shocks and stagflation.[11]
In the 1980s, Cooperman spearheaded the growth of Goldman's asset management division, becoming its chairman and chief executive officer in early 1989, overseeing equity products and special situations that managed billions in assets through disciplined, bottom-up analysis rather than broad market timing.[19] This expansion exemplified causal rewards for skill, as his 15 years as partner generated substantial profit shares that formed the seed capital for his personal net worth, underscoring the firm's pre-public era emphasis on performance over bureaucratic compliance.[20]
Cooperman departed Goldman Sachs amicably on November 29, 1991, after 25 years, to pursue independent money management, having honed expertise in navigating mergers, restructurings, and distressed opportunities via empirical valuation.[11][19]
Establishment and growth of Omega Advisors
Leon Cooperman founded Omega Advisors in 1991 after retiring from Goldman Sachs, where he had led its asset management division for over two decades. The firm operated as a hedge fund specializing in a long-biased, long/short equity strategy, leveraging fundamental analysis to identify undervalued securities and capitalize on market inefficiencies. Initial funding derived from Cooperman's personal capital alongside investments from former Goldman Sachs colleagues, enabling the launch of operations in New York.[1][21][22]
The hedge fund expanded rapidly through the 1990s and 2000s, driven by bottom-up stock selection that generated alpha relative to benchmarks, attracting institutional and high-net-worth investors. Assets under management swelled to several billion dollars by the mid-2010s, with the U.S. long equity portfolio alone reaching approximately $6.8 billion in early 2015, a testament to sustained inflows amid favorable market conditions for value-oriented approaches. This growth reflected strategic decisions to maintain a concentrated portfolio of 30-50 positions, prioritizing high-conviction bets over broad diversification.[23][24]
Omega Advisors weathered the 2008 financial crisis with a drawdown mirroring the S&P 500's roughly 37% decline, yet rebounded via rigorous position sizing and avoidance of forced liquidations, preserving investor capital over the long term. The firm's emphasis on mispriced value stocks manifested in 13F disclosures highlighting allocations to energy and financial sectors, where discrepancies between intrinsic value and market prices offered opportunities for asymmetric returns. Such sector tilts, informed by macroeconomic realism rather than momentum chasing, underpinned operational resilience and scalability.[25][26]
Investment philosophy and performance metrics
Cooperman's investment philosophy emphasizes value investing principles, focusing on acquiring undervalued securities that offer a margin of safety relative to their intrinsic value, a concept rooted in the teachings of Benjamin Graham and Warren Buffett.[27][5] He adapts this framework by incorporating macroeconomic analysis to assess broader market conditions, prioritizing companies with robust free cash flow generation and strong balance sheets over those driven by speculative momentum or narrative hype.[28][29] This approach underscores long-term holding periods, tax efficiency, and deep knowledge of portfolio holdings to mitigate risks and capitalize on mispricings.[27][30]
Since the inception of Omega Advisors in 1991, the firm's flagship fund has delivered compounded annualized net returns of 12.4% through 2018, surpassing the S&P 500's 9.5% over the same period, based on audited performance records.[31][21] This outperformance occurred in the majority of years, demonstrating consistent alpha generation through stock selection rather than broad market beta.[5] The strategy's emphasis on undervalued assets contributed to resilience, as evidenced by selective positions in sectors like energy during recovery phases following market downturns, though it occasionally lagged during prolonged growth-led bull markets favoring high-momentum stocks.[32]
Critics have noted vulnerabilities, including significant drawdowns such as those experienced in 2008 amid the financial crisis, which tested the value-oriented model's tolerance for cyclical exposures.[33] Post-2016 SEC-related redemptions further pressured assets under management, prompting a pivot to a family office structure in 2018 to maintain flexibility without external capital constraints.[31] Despite these challenges, the long-term record underscores the efficacy of disciplined, fundamentals-driven investing in generating superior risk-adjusted outcomes over passive indexing.[34]
Conversion to family office
In July 2018, Leon Cooperman announced that Omega Advisors would cease operations as a hedge fund and convert to a family office by the end of the year, returning all external investor capital.[31][35] This decision followed significant redemptions after the firm's 2017 settlement with the SEC over insider trading allegations, which reduced assets under management from a peak exceeding $10 billion to approximately $3.8 billion by mid-2018, with over half belonging to Cooperman personally.[21][36][37]
The conversion was motivated by a desire for greater operational flexibility and reduced administrative burdens associated with managing outside capital, including lower compliance costs and the elimination of performance fees that had structured the hedge fund model.[38] As a family office, Omega Advisors shifted to exclusively handling Cooperman's personal wealth, estimated at $3-4 billion, allowing for diminished public disclosure requirements under SEC rules for non-public funds and shielding strategies from external scrutiny.[39][40]
Post-conversion, the firm preserved its core value-investing approach, emphasizing concentrated positions in undervalued equities amid elevated market valuations. For instance, as of the Q2 2025 13F filing, Cooperman's portfolio totaled approximately $2.85 billion, with Mr. Cooper Group (COOP) comprising 15% or $427 million, reflecting sustained bullish conviction in mortgage servicing and real estate finance sectors.[41][42] This structure enabled long-term compounding without the quarterly redemption pressures typical of hedge funds, prioritizing capital preservation over short-term liquidity demands.[43]
Legal challenges
SEC insider trading investigation and resolution
In September 2016, the U.S. Securities and Exchange Commission (SEC) charged hedge fund manager Leon Cooperman and his firm Omega Advisors with insider trading related to trades in Atlas Pipeline Partners, L.P. securities executed in June and July 2010.[44][45] The SEC alleged that Cooperman received material nonpublic information from the CEO of Atlas Pipeline about an impending asset sale to a third party, in violation of an implicit agreement of confidentiality, and used it to purchase approximately $2.5 million in securities, yielding profits and avoiding losses totaling about $4.09 million.[46][9] The charges also included failures to timely report beneficial ownership of certain securities under Section 13(d) of the Securities Exchange Act.[44]
Cooperman vigorously denied the allegations, asserting that he had no fiduciary duty to the CEO or Atlas Pipeline, that the information shared was not material nonpublic information subject to trading restrictions, and that the SEC's theory relied on an unproven oral "promise not to trade" without evidence of breach or intent.[47] He publicly characterized the case as prosecutorial overreach, likening it to a "he-said, she-said" dispute lacking concrete proof, and argued it exemplified regulatory harassment targeting successful investors rather than genuine misconduct.[47]
The matter resolved in May 2017 through a settlement in which Cooperman and Omega neither admitted nor denied the SEC's findings, agreeing to pay a total of $4.95 million, comprising $3.5 million in disgorgement and prejudgment interest plus a $1.45 million civil penalty.[8][10] The settlement imposed no industry bar, suspension, or trading restrictions beyond the disgorgement, and separately addressed the reporting violations with additional penalties.[9] Cooperman rejected an earlier SEC proposal that included a $9 million fine and five-year ban from managing outside capital, opting to litigate until securing more favorable terms.[50]
Following the settlement, Omega Advisors experienced accelerated investor redemptions amid the uncertainty of the proceedings, though the fund's assets under management rebounded in subsequent years without additional regulatory actions against Cooperman.[51] Cooperman continued to decry the episode as "extraordinarily abusive" government overreach, emphasizing in interviews that it chilled legitimate investment research and inquiry without advancing clear enforcement of insider trading laws.[52][50] No criminal charges were pursued, and the civil resolution highlighted ongoing debates over the SEC's expansion of insider trading doctrines beyond traditional fiduciary breaches.[51]
Economic and political views
Market outlooks and investment principles
Cooperman has consistently cautioned against excessive market valuations, warning on October 1, 2025, that the U.S. stock market had entered the late innings of a bull run akin to the stage Warren Buffett described as vulnerable to bubbles and heightened risks.[53] He expressed particular concern over elevated price-to-earnings ratios, stating that big-tech stocks traded at "ridiculously high" multiples and that the broader market faced trouble due to overvaluation amid geopolitical uncertainties and potential policy shifts.[54] In June 2025, he forecasted a "very conservative" outlook for the S&P 500, predicting it would go "nowhere" amid slow growth, persistent inflation pressures from tariffs and conflicts, and limited upside from Federal Reserve actions.[55]
His investment principles emphasize cyclical dynamics governed by supply and demand fundamentals rather than central bank interventions or fiscal stimuli, advocating for purchases of undervalued assets with a margin of safety below intrinsic value.[30] Cooperman has critiqued Federal Reserve missteps in managing inflation, arguing in 2023 that aggressive rate hikes to combat it risked market selloffs and a probable 2024 recession, a view partially borne out by subsequent economic volatility.[56] He favors stock-picking in undervalued sectors like housing and finance, exemplified by his substantial stake in Mr. Cooper Group Inc., which comprised over 10% of his portfolio in early 2025 and benefited from mortgage servicing demand amid rate fluctuations.[57]
Cooperman has dismissed private equity as a "scam" reliant on leverage and high fees without genuine value creation, noting in September 2019 that low interest rates artificially fueled its returns but would not persist.[58] His data-driven approach has demonstrated historical resilience, with portfolio recoveries following drawdowns achieved through concentrated bets on resilient, undervalued firms rather than broad market timing.[59]
Critiques of fiscal policy and regulation
Cooperman has advocated for tax cuts and deregulation to stimulate economic growth, drawing parallels to the Reagan administration's supply-side policies that he credits with expanding GDP through reduced marginal rates and lighter regulatory burdens. In supporting Donald Trump's 2016 and 2020 campaigns for their pro-business orientation, he donated over $2 million to Trump-aligned political action committees, arguing that such measures incentivize investment and job creation over redistributive spending.[60][61]
He has sharply criticized Biden administration fiscal policies, attributing persistent inflation and national debt exceeding $35 trillion as of 2024 to excessive government borrowing and spending programs that outpace revenue growth. In a November 2023 interview, Cooperman stated that the U.S. is "borrowing from the future" through deficits averaging $1.5 trillion annually, warning of a looming financial crisis if unchecked, and expressing greater concern over fiscal indiscipline than transitory price pressures.[62][63][64] He highlighted shutdown risks in 2025 discussions, linking them to partisan failures in curbing entitlements and discretionary outlays, which he views as unsustainable given debt-to-GDP ratios surpassing 120%.[54]
Cooperman's 2016 SEC insider trading investigation, which he settled for $5 million in 2017 without admitting wrongdoing, exemplifies what he describes as regulatory weaponization against successful investors, eroding institutional trust through aggressive enforcement and initial demands for industry bans. He labeled the probe "extraordinarily abusive," contending it exemplified overreach that deters risk-taking by penalizing expertise rather than clear malfeasance.[52][44]
Opposing wealth taxes proposed by figures like Elizabeth Warren and Joe Biden, Cooperman argues they disincentivize entrepreneurial risk, predicting capital flight and asset concealment if enacted, as individuals seek to preserve gains from value creation. He counters equity-focused rhetoric by citing his ascent from a working-class immigrant family in the Bronx—starting with no inheritance—to billionaire status via market acumen, asserting that punitive levies on unrealized wealth ignore the causal role of incentives in fostering innovation and employment.[60][61][65]
Positions on social issues and institutional failures
Cooperman, born in 1943 to Hungarian Jewish immigrants in the Bronx, has frequently invoked his ascent from poverty—beginning with manual labor as a Xerox machine operator while attending Hunter College on scholarship—to underscore the efficacy of individual effort and merit in surmounting economic hardship, rather than reliance on external aid or systemic excuses.[66] In interviews, he has rejected victimhood-oriented frameworks, contending that they erode personal accountability and that capitalism rewards diligence irrespective of origins, as seen in his emotional defense against progressive attacks on wealth creation during a September 2023 discussion where he expressed alarm over socialists' misunderstanding of market incentives.[67] [68]
Following the October 7, 2023, Hamas attacks on Israel, Cooperman halted donations to Columbia University, his alma mater, after contributing over $50 million historically, decrying the institution's tolerance of antisemitic rhetoric and inaction amid pro-Palestinian student encampments and walkouts in late 2023 and early 2024.[69] [70] He labeled the university's leadership response as a moral failing, with students exhibiting ignorance—"sh*t for brains," in his words—and administrators enabling hostility toward Jews through permissive policies.[71] [72]
Cooperman has attributed such campus breakdowns to academia's entrenched left-wing ideological dominance, which he argues prioritizes conformity over empirical inquiry and factual accountability, as articulated in his post-October 2023 public statements and a February 2024 profile detailing his disillusionment with elite institutions' handling of anti-Israel agitation.[73] [74] This perspective informs his redirection of philanthropy toward apolitical, outcomes-driven endeavors, exemplified by the Cooperman family's $50 million commitment to the New Jersey Performing Arts Center on September 28, 2025, establishing an endowment for arts education and community programs demonstrably benefiting underserved youth without ideological preconditions.[75] [76]
Philanthropy
Key donations and commitments
In 2012, Leon and Toby Cooperman signed the Giving Pledge, committing to donate the majority of their wealth to philanthropic causes during their lifetimes or via their wills, exceeding the pledge's minimum threshold of half their fortune.[7][77]
The Coopermans established the Cooperman College Scholars program with an initial $50 million commitment to provide merit- and need-based scholarships for approximately 1,000 low-income high school students from Essex County, New Jersey, facilitating access to higher education at select colleges.[78][79] In 2013, they pledged $25 million to Hunter College, their alma mater, including $10 million to endow scholarships for gifted students who had exhausted other financial aid options, and additional funds for library enhancements and a pre-business program.[80][81] To Columbia Business School, Cooperman donated over $50 million cumulatively, with a landmark $25 million gift in 2012 supporting construction of new facilities on the Manhattanville campus.[72][82]
In medicine, the Coopermans donated $100 million to Saint Barnabas Medical Center in Livingston, New Jersey, in 2021—the largest gift in the hospital's history—enabling its renaming as Cooperman Barnabas Medical Center and funding expansions in cardiac care, oncology, and emergency services.[6][83] These efforts have endowed chairs and supported thousands of students and patients, with program reports indicating efficient allocation and measurable outcomes such as increased college enrollment rates among recipients.[13]
In September 2025, the Coopermans committed $50 million to the New Jersey Performing Arts Center (NJPAC), initiating an endowment to sustain performing arts programs, youth education initiatives, and social impact efforts aimed at cultural preservation and community engagement in Newark.[76][75] Overall, their targeted donations in education and medicine have surpassed several hundred million dollars, prioritizing merit-based opportunities and direct service enhancements over broad distributions.[84][13]
Evolving priorities and institutional accountability
In October 2023, amid campus protests following the October 7 Hamas attacks on Israel, Leon Cooperman announced he would suspend further donations to Columbia University, his alma mater, due to its administration's perceived failure to address rising antisemitism and disruptive student activism. He specifically condemned a student walkout organized by groups like Students for Justice in Palestine and a professor's public praise of the attacks as "awesome," vowing not to resume giving without a fundamental change in institutional response.[69] [72] This decision redirected his philanthropic resources toward organizations better aligned with combating antisemitism and supporting Jewish education, reflecting a demand for accountability over unconditional support.[69] [85]
Cooperman's evolving approach emphasizes direct, verifiable impacts, drawing parallels to his investment strategy of evaluating performance and divesting from underperformers. He has critiqued elite universities for tolerating ideological biases that prioritize activism over merit and safety, eroding their educational value—a view informed by Columbia's handling of protests where students reportedly called for harm against Jews and Zionists.[71] [72] In contrast, he favors initiatives with measurable outcomes, such as scholarship programs that demonstrably advance social mobility for disadvantaged students, applying rigorous scrutiny akin to portfolio management to ensure causal effectiveness rather than perpetual funding of flawed systems.[86]
This philosophy sustains commitments to public institutions like Hunter College, where Cooperman recognizes empirical success in fostering upward mobility through accessible education. His 2013 pledge of $25 million to Hunter—$10 million for need-based scholarships and $15 million for library renovations—underscores ongoing support for entities proven to deliver results for low-income students, without the ideological encumbrances observed in elite settings.[87] [68] By treating philanthropy as an investment requiring periodic reassessment, Cooperman prioritizes outcomes over loyalty, halting resources to institutions that fail to uphold core missions amid cultural shifts.[85]
Personal life
Family dynamics and legacy planning
Cooperman has been married to Gloria Cooperman since 1966 and has two sons, Wayne and Michael, with the family emphasizing close-knit bonding during time spent together.[88][13] The couple maintains primary residences in New York City, where Omega Advisors is based, and Boca Raton, Florida, reflecting a blend of professional ties and warmer-climate retreats.[89][78]
As of October 25, 2025, Cooperman's net worth stands at approximately $3.6 billion, per Forbes estimates, amassed through decades of compounded returns from value-oriented investing rather than speculative bets.[1] In 2018, he converted Omega Advisors from a hedge fund managing external capital to a family office structure, enabling focused oversight of personal and familial assets while returning investor funds and sidestepping regulatory pressures on traditional funds.[38] This setup supports orderly succession, with sons Wayne and Michael involved in family matters, aligning with Cooperman's intent to limit direct inheritance—reserving only a modest portion for heirs while committing the bulk to philanthropy to foster self-reliance.[88][86]
Post-conversion, Cooperman remains actively engaged despite health setbacks, including a Parkinson's disease diagnosis and blindness in his left eye from a stroke, sustaining a routine of purposeful involvement in investments and public discourse that underscores his vitality.[90]
Disclaimer: This profile is based on publicly available information. No endorsement or affiliation is implied.
Join UHNWI direct Affiliate Program
Earn Passive Income by Sharing Verified Contact Information of Billionaires, Centi-Millionaires, and Multi-Millionaires on the UHNWI Direct Platform
Maximize your earnings potential by sharing direct and validated contact information of the ultra-wealthy, including billionaires, centi-millionaires, and multi-millionaires. Join the UHNWI Direct platform and tap into a lucrative passive income stream by providing valuable data to those seeking high-net-worth connections. Start earning today with UHNWI Direct.
You may also be interested in reviewing other UHNWIs profiles.
To find the person you want to contact, start typing their name or other relevant tags in the search bar.
Please note: Our database contains over 10,000 direct contacts of UHNWIs, and it is highly likely that the individual you are seeking is already included. However, creating individual profiles for each contact is a meticulous and time-intensive process, So, if you are unable to find the profile of the individual you are looking for, please click here.
Filter by Net Worth: All | Billionaires | Centi-Millionaires | Multi-Millionaires
Filter by Location: All | USA | Canada | Europe | UK | Russia & CIS | Asia | MEIA | Australia | Latin America
Filter by Age: 1920-1930 | 1930-1940 | 1940-1950 | 1950-1960 | 1960-1970 | 1970-1980 | 1980-1990 | 1990-2000
Related People
UHNWI direct
