Plotkin and other insiders accounted for about $1 billion of the $8.7 billion the firm held at the end of March, according to Bloomberg calculations based on a regulatory filing. Generally, the founder provides the lion’s share of the internal capital.
NBA Investment
In the past few years, Plotkin had started to make more of a splash with his wealth. In 2019, he bought a stake in the Charlotte Hornets basketball team from Michael Jordan, and the next year he paid $44 million for two adjacent homes in Miami Beach, Florida.
Plotkin wrote in Sunday’s missive that even though there was “sufficient interest and critical mass” to move forward with the plan, he was set on finding a more “balanced” solution in the next two to three weeks.
A spokesman for Melvin Capital declined to comment.
--With assistance from Nishant Kumar.
This article was provided by Bloomberg News.