Risk and Success
Mike Novogratz became one of the youngest billionaires in history, turning $1 million into $2.3 billion in roughly 10 years through his Fortress hedge fund.
Fortress, co-founded by Novogratz, was the first hedge fund to go public in 2007, making five guys billionaires in a single day.
Novogratz made his first million at 32, became a Goldman Sachs partner at 33, and made $30 million overnight from Goldman’s IPO in 1999.
His macro hedge fund at Fortress was a top performer in the top 5% of macro funds, while his $15 million investment peaked at $2.7 billion.
Personal Growth and Challenges
The 2001 World Trade Center attacks rocked Novogratz’s personal life, leading him to leave Wall Street for a year to find new purpose.
Novogratz’s wife serves as a “metronome of discipline”, meditating 1 hour every morning and night without fail
Wealth and Perspective
Novogratz’s network and capital provide an “unfair advantage” in making money, allowing him to hold onto investments like Bitcoin even during market fluctuations.
Philanthropy and Future Goals
Novogratz is currently focused on Galaxy, a crypto business with 600 people, while also brainstorming a fantasy project to improve New York City with a $100 million philanthropic investment.