Who is Ross Stevens? Wiki, Biography, Net Worth, Age, Wife, Family, Career

May 2024 · 8 minute read

Ross Stevens (born in 1969, Age: 54 years old) is a billionaire financier and philanthropist who made headlines recently for withdrawing his $100 million donation from the University of Pennsylvania over its handling of antisemitism on campus. But who is Ross Stevens, and what is his story? Here are some facts about his life, career, family, and net worth.

Early Life and Education

Ross was born in 1969 in New York City. He grew up in a Jewish family and attended the prestigious Horace Mann School, where he excelled in math and science. He developed an interest in finance and economics at an early age and decided to pursue his passion at the University of Pennsylvania.

He graduated from Penn in 1991 with a bachelor’s degree in finance from the Wharton School. He then went on to earn his Ph.D. in finance and statistics from the University of Chicago Booth School of Business in 1996. He wrote his dissertation on the pricing of options and derivatives, a topic that would later become his specialty in his professional career.

Ross Stevens Wiki/Bio

NameRoss Stevens
Birth date1969
BirthplaceNew York City, U.S.
NationalityAmerican
EthnicityJewish
ReligionOrthodox Judaism
EducationUniversity of Pennsylvania (B.S.)
University of Chicago (Ph.D.)
OccupationFinancier, entrepreneur, philanthropist
Net worth$3.5 billion (as of 2023)
SpouseLisa Stevens
Children4
Instagramrosssteven
Homepagenewsunzip.com

Career and Achievements

After completing his PhD, Stevens joined Goldman Sachs, one of the most prestigious investment banks in the world. He worked as a trader and portfolio manager in the fixed-income, currency, and commodities division, where he gained a reputation for his expertise and innovation in complex financial instruments.

He rose through the ranks and became a partner at Goldman Sachs in 2004, overseeing a team of more than 100 traders and analysts. He was also involved in some of the most notable deals and transactions in the industry, such as the creation of the ABX index, a benchmark for the subprime mortgage market, and the rescue of AIG, the insurance giant that was on the verge of collapse during the 2008 financial crisis.

In 2012, Ross left Goldman Sachs and founded his own firm, Stone Ridge Holdings Group, with the vision of creating a new kind of asset management company that would cater to the needs of institutional investors, such as pension funds, endowments, and insurance companies. Stone Ridge specializes in alternative investments, such as reinsurance, volatility, and cryptocurrencies, that offer high returns and low correlation with traditional assets.

Rise To Fame

Stone Ridge has grown rapidly since its inception, and now manages more than $15 billion in assets. It has also become one of the largest institutional investors in Bitcoin, the leading cryptocurrency, with more than $6 billion worth of Bitcoin under custody. Ross Stevens is a vocal advocate of Bitcoin, and has publicly stated that he believes it is the best store of value and hedge against inflation in the world.

In 2017, Stevens launched a subsidiary of Stone Ridge, called the New York Digital Investment Group (NYDIG), to provide Bitcoin-related services and solutions to other institutional investors. NYDIG offers Bitcoin custody, execution, lending, and research, and has partnered with some of the biggest names in the financial industry, such as Fidelity, Morgan Stanley, and MassMutual.

Ross is also a generous philanthropist, who has donated millions of dollars to various causes and organizations, especially in the fields of education, health, and Jewish culture. He is a trustee of the Horace Mann School, the University of Chicago, and the Jewish Museum in New York. He is also a member of the Board of Overseers of the Wharton School and has given more than $25 million to his alma mater over the years.

Personal Life, Spouse, and Family

Stevens is married to Lisa Stevens, a former lawyer, and a fellow Penn alumna. They have four children, two sons and two daughters, who are all in their teens or twenties. The family lives in a luxurious penthouse apartment in Manhattan, overlooking Central Park. They also own several other properties, including a mansion in the Hamptons, a ski chalet in Aspen, and a ranch in Montana.

Ross is a devout Jew and follows the Orthodox branch of Judaism. He observes the Sabbath keeps kosher, and attends the Park East Synagogue regularly. He is also a supporter of Israel and has visited the country several times with his family. He is a member of the American Israel Public Affairs Committee (AIPAC), the pro-Israel lobbying group, and has donated to various Israeli causes and charities.

Net Worth

Ross Stevens has an estimated net worth of $3.5 billion, according to the Forbes 400 list of the richest Americans in 2023. He ranks as the 261st richest person in the country, and the 19th richest person in New York. He made most of his fortune from his successful career in finance, and from his investments in Bitcoin and other alternative assets.

Controversies

However, Stevens also faced some controversy recently, when he announced that he would withdraw his $100 million donation from the University of Pennsylvania, unless the university fired its president, Liz Magill, over her handling of antisemitism on campus. He accused Magill of failing to protect Jewish students and faculty from harassment and discrimination, and of allowing anti-Israel and anti-Zionist sentiments to flourish at Penn.

He wrote a letter to the university’s board of trustees, stating that he was “deeply disappointed and outraged” by Magill’s leadership and that he would cancel his gift of $100 million worth of Stone Ridge shares, which he had previously pledged in 2020. He also urged other donors and alumni to join him in his protest and to demand Magill’s resignation or removal.

His letter sparked a heated debate among the Penn community and drew mixed reactions from the public. Some praised him for his courage and conviction and agreed with his criticism of Magill and the university. Others criticized him for his ultimatum and his interference in the university’s affairs and defended Magill and the university’s commitment to academic freedom and diversity.

The university’s board of trustees issued a statement, expressing their gratitude for Stevens’s generosity, but also their disappointment for his decision. They said that they would not bow to his pressure and that they fully supported Magill and her leadership. They also said that they would continue to work with Stevens and other stakeholders to address the issue of antisemitism and to foster a safe and inclusive environment for all members of the Penn community.

Penn donor withdraws $100 million after president’s ‘shameful’ testimony on campus antisemitism

A major donor to the University of Pennsylvania has decided to rescind his $100 million gift to the prestigious Ivy League institution after its president, Liz Magill, gave a controversial testimony before Congress on the issue of campus antisemitism.

Ross Stevens, a Penn alumnus and the CEO of Stone Ridge Asset Management, said in a note to employees that he was “appalled” by Magill’s failure to condemn students who call for the genocide of Jews. He said he would withdraw his donation, which was made in 2017 to support the Wharton School’s finance innovation center unless there was a change in leadership and values at Penn “very shortly”.

Stevens’ decision came after Magill and two other university presidents, Claudine Gay of Harvard and Sally Kornbluth of MIT, appeared before the House Committee on Education and the Workforce on Tuesday. They were asked by lawmakers about how they have handled antisemitic incidents on their campuses since the war between Israel and Hamas erupted two months ago.

Magill later issued a video statement, apologizing for her testimony and admitting that she should have focused on “the irrefutable fact that a call for genocide of Jewish people is a call for some of the most terrible violence human beings can perpetrate”. She also said that she was committed to fostering a safe and inclusive environment for all students, faculty, and staff at Penn.

However, her apology did not appease Stevens, who said that Magill’s testimony was “shameful” and “unforgivable”. He said that he could not support a university that tolerates antisemitism and does not protect its Jewish community. He also said that Penn’s “permissive approach” to those calling for violence against Jews would violate any policies or rules that prohibit harassment and discrimination based on religion, including those of his own company.

Stevens is not the only one who has called for Magill’s resignation. According to US media reports, the advisory board at Wharton, the university’s business school, has written a letter to Magill, urging her to step down “with immediate effect”. Wharton is one of the most prestigious and influential business schools in the world, with alumni such as former US President Donald Trump, Tesla and SpaceX billionaire Elon Musk, and many other powerful names in business and finance.

Penn is one of the oldest and most respected universities in the US and a part of the elite Ivy League group, which also includes Harvard, Columbia, and Yale. However, it has faced criticism for its handling of antisemitism on campus, especially in the wake of the Israel-Hamas war, which has inflamed tensions and triggered angry protests and rising incidents of anti-Jewish sentiments across American college campuses.

Ross Stevens is a remarkable person, who has achieved great success and wealth in his life. He is a brilliant financier, a visionary entrepreneur, a generous philanthropist, and a proud Jew. He is also a controversial figure, who has stirred up a storm with his bold and provocative move against his alma mater. He is a man who is not afraid to speak his mind, and to stand up for what he believes in.

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