Paul Tudor Jones

{{Infobox person

| name = Paul Tudor Jones

| image = Paul Tudor Jones 2006.jpg

| birth_name = Paul Tudor Jones II

| birth_date = {{birth date and age|1954|9|28}}

| birth_place = Memphis, Tennessee, U.S.

| education = University of Virginia (BA)

| occupation = Hedge fund manager

| years_active = 1980–present

| known_for = Predicting Black Monday
Founder of the Robin Hood Foundation

| title = CEO, Tudor Investment Corporation

| spouse = {{marriage|Sonia Klein|1988}}

| children = 4

}}

Paul Tudor Jones II (born September 28, 1954){{cite web |last=Smith |first=Randall |title=After a Dazzling Early Career, a Star Trader Settles Down |url=https://dealbook.nytimes.com/2014/03/05/after-a-dazzling-early-career-a-star-trader-settles-down |access-date=December 31, 2019 |issue=DealBook |page=B1 |work=The New York Times |date=March 5, 2014 |language=en |url-access=limited |archive-date=October 2, 2019 |archive-url=https://web.archive.org/web/20191002103404/https://dealbook.nytimes.com/2014/03/05/after-a-dazzling-early-career-a-star-trader-settles-down |url-status=live}} is an American billionaire hedge fund manager, conservationist{{cite news|last1=Klinkenborg|first1=Verlyn|title=Your Own Private Africa|url=https://www.nytimes.com/2006/09/24/travel/tmagazine/24tanzania.html|archive-url=https://web.archive.org/web/20071009191709/http://www.futuresindustry.org/paul-tudor-jones.asp |archive-date=October 9, 2007 |url-status=dead|access-date=December 28, 2019|agency=The New York Times Company|issue=T Magazine|work=New York Times|date=September 24, 2006|location=New York, N.Y., United States|language=en|url-access=limited}} and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut. Eight years later, he founded the Robin Hood Foundation, which focuses on poverty reduction. As of July 2024, his net worth was estimated at US$8.1 billion.{{cite web|title=Forbes profile: Paul Tudor Jones, II. |url=https://www.forbes.com/profile/paul-tudor-jones-ii/ |work=Forbes |access-date=July 22, 2024}}

Early life and education

Jones was born in Memphis, Tennessee. Paul Tudor Jones II's father John Paul "Jack" Jones practiced transportation law from an office located next door to The Daily News, a publication his family has owned and operated since 1886 and where Jack Jones was the publisher for 34 years.{{cite news|last1=Maki|first1=Aisling|title=Still a Newspaperman|url=https://www.memphisdailynews.com/news/2011/oct/10/still-a-newspaperman/|access-date=January 1, 2020|agency=The Daily News Publishing Co. Inc.|publisher=Memphis Daily News|date=October 10, 2011|location=United States|language=en|archive-date=January 2, 2020|archive-url=https://web.archive.org/web/20200102002023/https://www.memphisdailynews.com/news/2011/oct/10/still-a-newspaperman/|url-status=live}} His half-brother is Peter Schutt.{{Cite web|url=https://www.memphisdailynews.com/news/2011/sep/26/nyc-investor-jones-recalls-memphis-roots/|title = NYC Investor Jones Recalls Memphis Roots}}

Jones graduated from Presbyterian Day School, an all-boys elementary school, before attending Memphis University School for high school. Jones then went on to the University of Virginia where he was a welterweight boxing champion.{{cite news|last1=Browning|first1=Lynnley|title=Wrestling's Private Equity Champion|url=https://dealbook.nytimes.com/2013/04/05/wrestlings-private-equity-champion/|access-date=December 31, 2019|agency=The New York Times Company|issue=DealBook|work=New York Times|date=April 5, 2013|location=United States|language=en|url-access=limited|archive-date=January 1, 2020|archive-url=https://web.archive.org/web/20200101043506/https://dealbook.nytimes.com/2013/04/05/wrestlings-private-equity-champion/|url-status=live}} While at the University of Virginia, Jones was president of the Sigma Alpha Epsilon fraternity.{{cite news|last1=Wang|first1=Jennifer|title=How Hedge Fund Billionaire Paul Tudor Jones Learned To Overcome Failure In 6th Grade|url=https://www.forbes.com/sites/jenniferwang/2017/10/21/how-hedge-fund-billionaire-paul-tudor-jones-learned-to-overcome-failure-in-6th-grade/|access-date=January 2, 2020|agency=Forbes Media LLC|issue=Billionaires|work=Forbes|date=October 21, 2017|location=United States|language=en|archive-date=January 2, 2020|archive-url=https://web.archive.org/web/20200102161819/https://www.forbes.com/sites/jenniferwang/2017/10/21/how-hedge-fund-billionaire-paul-tudor-jones-learned-to-overcome-failure-in-6th-grade/|url-status=live}} To pay for tuition, Jones wrote for his family's paper under the pseudonym Paul Eagle.

In 1976, he earned a bachelor's degree in economics from the University of Virginia. In the 1980s, Jones was accepted to Harvard Business School but did not attend.{{cite web|title=Paul Tudor Jones Interview - Here is an excerpt from an interview with Paul Tudor Jones|url=https://www.turtletrader.com/paul-tudor-jones-interview/|access-date=December 1, 2013|agency=TurtleTrader®|publisher=TurtleTrader|date=December 1, 2013|language=en}}

Career

= 1976 New York Cotton Exchange =

In 1976, after graduating from the University of Virginia Jones asked his cousin William Dunavant Jr. for an introduction to trading. Dunavant was the CEO of Dunavant Enterprises, one of the world's largest cotton merchants. Dunavant sent Jones to talk with commodity broker Eli Tullis in New Orleans. Tullis represented some of the largest cotton traders in the world. Tullis hired Jones and mentored him in trading cotton futures at the New York Cotton Exchange. Eli Tullis fired Jones when he fell asleep at his desk after a night of partying in New Orleans.{{cite news|last1=Roche|first1=JuliaLa|title=15 Life Lessons From Top Hedge Fund Managers|url=https://www.businessinsider.com/life-lessons-from-hedge-fund-managers-2013-2|access-date=January 1, 2020|agency=Business Insider Inc.|publisher=Business Insider|date=February 21, 2013|location=United States|language=en|archive-date=January 2, 2020|archive-url=https://web.archive.org/web/20200102025401/https://www.businessinsider.com/life-lessons-from-hedge-fund-managers-2013-2|url-status=live}} Many years later, Jones served as treasurer in 1986 and then as chairman of the New York Cotton Exchange from August 1992 through June 1995.

= 1976―1980 E. F. Hutton & Co. =

At 24 years old, Jones became a commodities broker for E. F. Hutton & Co. While working at E.F. Hutton Jones met, worked with and became friends with Glenn Dubin.{{cite news|last1=Wachtel|first1=Katya|title=Meet Obama's New Best Friends|url=https://www.businessinsider.com/obama-wall-street-donors-democrats-2011-6|access-date=January 1, 2020|agency=Business Insider Inc.|publisher=Business Insider|date=June 15, 2011|location=United States|language=en|archive-date=January 2, 2020|archive-url=https://web.archive.org/web/20200102022550/https://www.businessinsider.com/obama-wall-street-donors-democrats-2011-6|url-status=live}}

= 1980—present: Tudor Investment Corporation =

Jones' firm manages $12 billion (as of 2022).{{cite news|title=The largest managers of hedge funds (P&I Sep 2019)|url=https://www.pionline.com/special-report-hedge-funds/largest-managers-hedge-funds|access-date=October 15, 2019|agency=Crain Communications Inc|issue=Special Report Hedge Funds|publisher=Pensions & Investments|date=September 16, 2019|location=United States|language=en|url-access=limited|archive-date=July 30, 2020|archive-url=https://web.archive.org/web/20200730092657/https://www.pionline.com/special-report-hedge-funds/largest-managers-hedge-funds|url-status=live}} Their investment capabilities are broad and diverse, including global macro trading, fundamental equity investing in the U.S. and Europe, emerging markets, venture capital, commodities, event-driven strategies, and technical trading systems.

The Tudor Group, consisting of Tudor Investment Corporation and its affiliates, is involved in active trading, investing, and research in assets across fixed income, currencies, equities, and commodities asset classes and related derivative and other instruments in the global markets for an international clientele. The investment strategies of the Tudor Group include, among others, discretionary global macro, quantitative global macro (managed futures), discretionary equity long/short, quantitative equity market neutral and growth equity.

Fees – Although the hedge fund industry standard is two percent per annum of assets under management and twenty percent of the profits, Tudor Investment Corp. charges four percent per annum of assets under management and twenty-three percent of the profits.{{cite news|last1=Buhl|first1=Teri|title=Paul Tudor Jones is Not Making Investors Any Money|url=https://www.forbes.com/sites/teribuhl/2010/09/22/paul-tudor-jones-is-not-making-investors-any-money/|access-date=June 28, 2013|agency=Forbes Media LLC|work=Forbes|date=September 22, 2010|location=United States|language=en|archive-date=August 6, 2013|archive-url=https://web.archive.org/web/20130806065429/http://www.forbes.com/sites/teribuhl/2010/09/22/paul-tudor-jones-is-not-making-investors-any-money/|url-status=live}}

1980 Founding – In 1980, Jones founded Tudor Investment Corporation,{{cite news|url=https://www.tudor.com/|title=Tudor Group|access-date=March 12, 2020|url-status=live|language=en|archive-date=May 7, 2020|archive-url=https://web.archive.org/web/20200507011415/https://www.tudor.com/}} an asset management firm headquartered in Stamford, Connecticut. At the time, Jones was still a relatively unknown trader. Dunavant and Tullis were among Tudor's first clients. In one of Commodities Corporation's first external investments, Tudor was provided $30,000 to manage.{{cite news|last1=Lux|first1=Hal|title=What Becomes a Legend?|url=https://www.institutionalinvestor.com/article/b15135vtvffcfz/what-becomes-a-legend|access-date=January 4, 2020|agency=Institutional Investor LLC|publisher=Institutional Investor|date=February 1, 2003|language=en|url-access=limited|archive-date=August 19, 2020|archive-url=https://web.archive.org/web/20200819024825/https://www.institutionalinvestor.com/article/b15135vtvffcfz/what-becomes-a-legend|url-status=live}}

Tudor (i.e. Jones) used his experience in trading cotton to branch into other commodities and financial instruments such as stock-index contracts and currency futures.

1987 Black Monday – One of Jones' earliest and major successes was predicting Black Monday in 1987, tripling his money during the event due to large short positions.{{cite news|title=Forbes - #382 Paul Jones II|url=https://www.forbes.com/lists/2006/10/L6IH.html|access-date=April 16, 2007|agency=Forbes Media LLC|issue=Billionaires Lists|work=Forbes|date=March 8, 2006|location=United States|language=en|archive-date=April 1, 2007|archive-url=https://web.archive.org/web/20070401100959/http://www.forbes.com/lists/2006/10/L6IH.html|url-status=live}}

In 1987, betting on a crash in the United States stock market Jones' Tudor' returned 125.9 percent after fees, earning an estimated $100 million.

Peter Borish, second-in-command to Jones at Tudor Investment Corporation, anticipated the crash in 1987 by mapping the 1987 market against the market preceding the 1929 crash.{{cite book |url=https://books.google.com/books?id=JklJ0ZoJtmAC&pg=PT14 |title=More Money Than God: Hedge Funds and the Making of a New Elite |author=Sebastian Mallaby |publisher=Penguin |date=2010 |isbn=9781101457214 |access-date=February 6, 2016 |archive-date=August 19, 2020 |archive-url=https://web.archive.org/web/20200819132619/https://books.google.com/books?id=JklJ0ZoJtmAC&pg=PT14 |url-status=live }}

1990s – Tudor achieved greater liquidity and thereby flexibility through Jones' chairmanship of the NYCE's Finex subsidiary. Jones, with his colleague Hunt Taylor, was instrumental in the creation of FINEX, the financial futures division of the New York Board of Trade, and in the development of their U.S. dollar index futures contract.

1990 – In 1990, as the Japanese equities bubble was bursting, Jones returned 87.4 percent through shorting the market.

1991 – Jones closed the Tudor Select Fund, a futures fund, and returned investor capital.

1994 SEC Settlement – In 1994, Tudor paid a fine of $800,000 (the second highest at the time) to the SEC to settle allegations of violating (while not admitting or denying wrongdoing) the uptick rule, part of the Securities Exchange Act of 1934 that prohibits the sale of a borrowed stock while the stock is declining.{{cite news|last1=Strom|first1=Stephanie|title=Tudor Investment Agrees to S.E.C. Fines|url=https://www.nytimes.com/1996/09/13/business/tudor-investment-agrees-to-sec-fines.html|access-date=December 31, 2019|agency=The New York Times Company|page=D5|work=New York Times|date=September 13, 1996|location=United States|language=en|url-access=limited|archive-date=December 31, 2019|archive-url=https://web.archive.org/web/20191231222715/https://www.nytimes.com/1996/09/13/business/tudor-investment-agrees-to-sec-fines.html|url-status=live}}

2000s – In 2014, the New York Times noted that returns for Tudor clients had "dimmed" over the decade following Jones' "deliberate move to trade more conservatively, fewer big interest-rate and currency moves as central banks kept short-term rates near zero and more competition as the hedge fund universe has mushroomed.

Investments

= 2012 - Castleton Commodities International =

In October 2012, it was announced that Glenn Dubin, Paul Tudor Jones and Timothy Barakett were among a group of investors buying the merchant energy operation Louis Dreyfus Highbridge Energy ("LDH Energy") from Louis Dreyfus Company and Highbridge Capital Management, a New York-based hedge fund.{{cite news|title=Louis Dreyfus and JPMorgan to Sell Energy Trading Venture|url=https://dealbook.nytimes.com/2012/10/04/louis-dreyfus-and-jpmorgan-to-sell-energy-trading-venture/|access-date=August 29, 2019|agency=The New York Times Company|issue=DealBook|work=New York Times|date=October 4, 2012|language=en|archive-date=August 29, 2019|archive-url=https://web.archive.org/web/20190829212226/https://dealbook.nytimes.com/2012/10/04/louis-dreyfus-and-jpmorgan-to-sell-energy-trading-venture/|url-status=live}} The new company was named Castleton Commodities International, LLC.{{cite news|last1=McCrum|first1=Dan|last2=Blas|first2=Javier|title=Louis Dreyfus to sell energy trader|url=https://www.ft.com/content/2836997a-0c9d-11e2-a776-00144feabdc0|access-date=August 29, 2019|agency=Nikkei|publisher=Financial Times|date=October 3, 2012|location=New York, N.Y., United States|language=en|url-access=subscription|archive-date=August 11, 2019|archive-url=https://web.archive.org/web/20190811054226/https://www.ft.com/content/2836997a-0c9d-11e2-a776-00144feabdc0|url-status=live}}

=Investment philosophy=

Jones's global macro trading style is based primarily on technical analysis, as opposed to value investing, with an emphasis on momentum factors driving markets.{{Cite web|title = A Dozen Things I've Learned from Paul Tudor Jones About Investing and Trading|url = http://25iq.com/2015/07/25/a-dozen-things-ive-learned-from-paul-tudor-jones-about-investing-and-trading/|website = 25iq|date = July 25, 2015|access-date = December 31, 2015|archive-date = December 29, 2015|archive-url = https://web.archive.org/web/20151229053928/http://25iq.com/2015/07/25/a-dozen-things-ive-learned-from-paul-tudor-jones-about-investing-and-trading/|url-status = live}} In a 2000 interview, he suggested however that he regretted not being more involved with venture investing in technology firms during the 1990s.{{Cite web|title = Paul Tudor Jones II Interview|url = http://chinese-school.netfirms.com/Paul-Tudor-Jones-interview.html|website = chinese-school.netfirms.com|access-date = December 31, 2015|archive-date = July 25, 2011|archive-url = https://web.archive.org/web/20110725023808/http://chinese-school.netfirms.com/Paul-Tudor-Jones-interview.html|url-status = live}} Jones also stated in 2020 that he owns bitcoin as a hedge against inflation.{{Cite web|title=Billionaire investor Paul Tudor Jones calls bitcoin 'the best inflation trade' as the token surges above $13,000|url=https://markets.businessinsider.com/currencies/news/bitcoin-price-rally-best-inflation-trade-tudor-jones-cryptocurrency-btc-2020-10-1029711282}}

Wealth

As of November 2019, Forbes Magazine estimated his net worth to be US$5.3 billion, making him the 343rd richest person on the Forbes 400 and the 7th highest-earning hedge fund manager.{{cite news |title=Forbes profile: Paul Tudor Jones, II. |url=https://www.forbes.com/profile/paul-tudor-jones-ii/ |access-date=May 19, 2020 |work=Forbes |archive-date=May 23, 2020 |archive-url=https://web.archive.org/web/20200523175555/https://www.forbes.com/profile/paul-tudor-jones-ii/ |url-status=dead }}{{cite news|last1=Vardi|first1=Nathan|last2=Gara|first2=Antoine|title=The Highest-Earning Hedge Fund Managers And Traders|url=https://www.forbes.com/sites/nathanvardi/2019/03/20/the-highest-earning-hedge-fund-managers-and-traders/|access-date=November 4, 2019|agency=Forbes Media LLC|work=Forbes|date=March 20, 2019|location=United States|language=en|archive-date=March 30, 2019|archive-url=https://web.archive.org/web/20190330205258/https://www.forbes.com/sites/nathanvardi/2019/03/20/the-highest-earning-hedge-fund-managers-and-traders/|url-status=live}}

In 2019, Tudor Jones and his wife joined the Giving Pledge, vowing to give most of their wealth to charitable causes.{{Cite web|url=https://www.givingpledge.org/Pledger.aspx?id=375|title=Sonia and Paul Tudor Jones|website=Giving Pledge|access-date=November 29, 2019|archive-date=June 27, 2020|archive-url=https://web.archive.org/web/20200627002037/https://givingpledge.org/Pledger.aspx?id=375|url-status=live}} When Tudor Jones and his wife joined the Giving Pledge, they said "we were both raised in the Church," and cited several Bible references supporting the decision.

As of 2006 Jones lived in Greenwich, Connecticut.{{cite news|last1=Munk|first1=Nina|title=Greenwich's Outrageous Fortune|url=https://www.vanityfair.com/news/2006/07/greenwich200607|access-date=December 1, 2013|agency=Condé Nast|issue=Real Estate|publisher=Vanity Fair|date=July 17, 2006|location=United States|language=en|url-access=limited|archive-date=February 7, 2015|archive-url=https://web.archive.org/web/20150207184524/http://www.vanityfair.com/news/2006/07/greenwich200607|url-status=live}}

Conservation

In 1990, Jones pleaded guilty to illegally destroying 86 acres of protected wetlands on his Maryland Eastern Shore hunting estate with 1,400 cubic yards of gravel, without a permit.{{cite news|title=Marsh Destroyed, Owner Is Fined|url=https://www.nytimes.com/1990/05/26/us/marsh-destroyed-owner-is-fined.html|access-date=December 28, 2019|agency=The New York Times Company|page=A9|work=New York Times|date=May 26, 1990|location=United States|language=en|url-access=limited|archive-date=December 28, 2019|archive-url=https://web.archive.org/web/20191228231000/https://www.nytimes.com/1990/05/26/us/marsh-destroyed-owner-is-fined.html|url-status=live}} Jones was ordered to pay $1 million fine and $1 million in restitution to the National Fish and Wildlife Foundation and by pleading guilty avoided a possible one-year jail term for violating the Federal Clean Water Act.

In 1993, Jones co-founded the Everglades Foundation, which advocates for conservation of the Everglades, tropical wetlands in Florida.{{cite news|last1=Cavemarch|first1=Damien|last2=Van Natta|first2=Don|title=Deal to Save Everglades May Help Sugar Firm|url=https://www.nytimes.com/2010/03/08/us/08everglades.html|access-date=December 29, 2019|agency=The New York Times Company|issue=U.S|page=A1|work=New York Times|date=March 7, 2010|location=New York, N.Y., United States|language=en|url-access=limited|archive-date=December 29, 2019|archive-url=https://web.archive.org/web/20191229164440/https://www.nytimes.com/2010/03/08/us/08everglades.html|url-status=live}} He chairs the organization's board, which includes Jimmy Buffett, Jack Nicklaus, David Lawrence Jr., Jon L. Mills, and William Wrigley Jr. II, among others.{{cite news|title=Group Spurs Everglades Restoration|url=https://www.newsweek.com/group-spurs-everglades-restoration-87761|access-date=May 12, 2017|agency=IBT Media|issue=Tech & Science|publisher=Newsweek|date=August 18, 2008|location=United States|language=en|archive-date=December 22, 2018|archive-url=https://web.archive.org/web/20181222173241/https://www.newsweek.com/group-spurs-everglades-restoration-87761|url-status=live}}

In 2006, the New York Times described Jones as an American conservationist in reporting that in 2002, the Tanzanian government leased him the Grumeti reserve in Tanzania's western Serengeti. The New York Times explains the conservation reporting "The reserves are really three contiguous hunting blocks with Sasakwa at the center: Grumeti Game Reserve, Fort Ikoma Open Area and Ikorongo Game Reserve. Hunting blocks are supposed to generate income for the central government and local districts through the sale of hunting licenses and trophy fees. Grumeti Reserves would make no financial sense, as far as the government is concerned, if the hunting revenues from these blocks simply vanished. Jones’s solution has been to pay the hunting fees and nearly eliminate hunting."

In 2016 the National Audubon Society awarded Jones the Audubon Medal in recognition of his contributions to "conservation with economic sustainability and habitat protection."{{cite web|title=2016 Audubon Medal Awardee: Paul Tudor Jones II|website=audubon.org|url=https://www.audubon.org/news/2016-audubon-medal-awardee-paul-tudor-jones-ii}}

Philanthropy

In 1986, after watching an episode of CBS News' 60 Minutes about businessman and philanthropist Eugene Lang, Jones adopted a sixth grade class in Bedford–Stuyvesant, Brooklyn at an underperforming public school. Jones guaranteed college scholarships to students that graduated from high school. His idea was this would be an incentive to students to engage in academics with his goal being that 90% of those students successfully complete high school. However, only 33% of the students in the class eventually graduated from high school. Jones believed he "vastly underestimated both the academic and social challenges facing [the students in the class he adopted]" and his program was "completely ill-equipped to [help them] in an efficient fashion."{{Cite web|url=https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/|title=Can Hedge Fund Billionaire Paul Tudor Jones Save America's Public Education System?|website=Forbes|access-date=December 31, 2015|archive-date=January 2, 2016|archive-url=https://web.archive.org/web/20160102022622/http://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/|url-status=live}} In his 2009 speech, Jones explained that this major failure on his part taught him lessons he's applied in subsequent education efforts.{{Cite web|url=https://www.scribd.com/doc/16588637/Paul-Tudor-Jones-Failure-Speech-June-2009|title=Paul Tudor Jones – Failure Speech June 2009|website=Scribd|access-date=December 31, 2015|archive-date=January 11, 2016|archive-url=https://web.archive.org/web/20160111214201/http://www.scribd.com/doc/16588637/Paul-Tudor-Jones-Failure-Speech-June-2009|url-status=live}}

In 2009, Jones delivered a commencement speech at the Buckley School about his experiences with failure and comebacks. He talked about failing to get 86 underserved students into college despite expense and effort later helped him start one of the most successful charter schools in New York.{{cite news|last1=Levin|first1=Bess|title=Paul Tudor Jones Gets Ridiculously Real With Ninth Graders|url=https://dealbreaker.com/2009/06/paul-tudor-jones-gets-ridiculously-real-with-ninth-graders|access-date=December 31, 2015|agency=Breaking Media Inc.|publisher=DealBreaker|date=June 19, 2009|location=United States|language=en}}{{Cite web|url=https://www.scribd.com/doc/16588637/Paul-Tudor-Jones-Failure-Speech-June-2009|title=Paul Tudor Jones – Failure Speech June 2009|website=Scribd|access-date=December 31, 2015|archive-date=January 11, 2016|archive-url=https://web.archive.org/web/20160111214201/http://www.scribd.com/doc/16588637/Paul-Tudor-Jones-Failure-Speech-June-2009|url-status=live}}

In 2004, Jones founded the Excellence Charter School, the country's first all-boys charter school, located in the Bedford–Stuyvesant neighborhood of Brooklyn, New York.

He founded and chaired the Bedford Stuyvesant I Have A Dream Foundation, which puts local students in colleges.{{cite web|url=http://www.octafinance.com/paul-tudor-jones/|title=Paul Tudor Jones|publisher=Octafinance|access-date=December 15, 2015}}

=University of Virginia giving=

File:University-of-Virginia-Rotunda.jpg, for a sports and concert arena which the university named after his father.]]

Jones has made large donations to his alma mater, the University of Virginia, including a $44 million donation, which went to the construction of a new basketball arena, named the John Paul Jones Arena, in honor of his father, an attorney who also attended the University of Virginia. In April 2012, UVA announced the creation of a new Contemplative Sciences Center through a $12 million gift from Jones and his wife, Sonia.

=Robin Hood Foundation=

Jones is the founder of the Robin Hood Foundation, a charitable organization backed mainly by hedge fund operators{{cite web |last=McLean |first=Bethany |title=Whose Yoga Is It, Anyway?|url=https://www.vanityfair.com/news/business/2012/04/krishna-pattanbhi-trophy-wife-ashtanga-yoga |access-date=December 28, 2019 |agency=Condé Nast |issue=Society |work=Vanity Fair |date=March 12, 2012 |language=en|url-access=limited|archive-date=June 30, 2017 |archive-url=https://web.archive.org/web/20170630201205/http://www.vanityfair.com/news/business/2012/04/krishna-pattanbhi-trophy-wife-ashtanga-yoga |url-status=live}} that attempts to alleviate problems caused by poverty in New York City. Other founding members include Peter Borish and Glenn Dubin.{{cite news|title=The Emperors of Benevolence|url=http://nymag.com/guides/money/2007/39959/index1.html|access-date=November 5, 2007|agency=New York Media LLC|publisher=New York Magazine|date=October 29, 2007|location=New York, N.Y., United States|language=en|archive-date=November 7, 2007|archive-url=https://web.archive.org/web/20071107075159/http://nymag.com/guides/money/2007/39959/index1.html|url-status=live}}

=Just Capital=

He set up the nonprofit Just Capital to help Americans learn about companies that are considered "just". The organization uses data to discover which companies are most involved with the priorities Americans find most important. The nonprofit uses an annual, multi-phase survey to find out what these priorities are. Just Capital also operates a for profit ETF (exchange traded fund) comprising only companies believed to be "just".{{cite news|last1=Berke|first1=Jeremy|title=Billionaire investor Paul Tudor Jones created a way to rank companies on social impact — now Goldman Sachs is turning it into a fund|url=https://www.businessinsider.com/goldman-sachs-etf-paul-tudor-jones-just-capital-2018-6|access-date=December 30, 2019|agency=Business Insider Inc.|publisher=Business Insider|date=June 2, 2018|location=United States|language=en|archive-date=December 30, 2019|archive-url=https://web.archive.org/web/20191230180005/https://www.businessinsider.com/goldman-sachs-etf-paul-tudor-jones-just-capital-2018-6|url-status=live}}

Controversy

In June 2012, Jones was reportedly a key figure in the controversial ousting of University of Virginia President Teresa A. Sullivan.{{cite news|url=https://www.forbes.com/sites/calebmelby/2012/06/19/charlottesville-paper-says-billionaire-paul-tudor-jones-involved-in-uva-president-ouster/|title=Charlottesville Paper Reports That Billionaire Paul Tudor Jones Was Involved In UVA President Ouster|last=Melby|first=Caleb|work=Forbes|access-date=December 1, 2013|archive-date=December 3, 2013|archive-url=https://web.archive.org/web/20131203002719/http://www.forbes.com/sites/calebmelby/2012/06/19/charlottesville-paper-says-billionaire-paul-tudor-jones-involved-in-uva-president-ouster/|url-status=live}} He penned an editorial supporting her resignation, citing the school's poor academic rankings, low salary for staff and other perceived problems.{{cite web|url=http://www2.dailyprogress.com/news/2012/jun/17/aspiring-achieve-greatness-ar-1993965/|title=OP-ED: Aspiring to achieve greatness – The Daily Progress: News|date=June 17, 2012|publisher=The Daily Progress|access-date=December 1, 2013|url-status=dead|archive-url=https://archive.today/20130120052312/http://www2.dailyprogress.com/news/2012/jun/17/aspiring-achieve-greatness-ar-1993965/|archive-date=January 20, 2013}} On June 26, 2012, the University of Virginia Board of Visitors unanimously voted to reinstate Sullivan.{{cite web|url=http://www.wset.com/story/18882329/update-board-votes-to-reinstate-sullivan|title=UVA Board of Visitors Vote to Reinstate Sullivan – WSET.com – ABC13|publisher=WSET.com|access-date=December 1, 2013|url-status=dead|archive-url=https://web.archive.org/web/20131203012255/http://www.wset.com/story/18882329/update-board-votes-to-reinstate-sullivan|archive-date=December 3, 2013}}

In 2013, the Washington Post posted a video to their site showing Jones at an April 2013 closed door investment roundtable at the University of Virginia responding to a question on the lack of diversity on the panel.{{cite news|last1=Johnson|first1=Jenna|title=U-Va. faculty members press officials to respond to Paul Tudor Jones comments|url=https://www.washingtonpost.com/local/education/u-va-faculty-members-press-officials-to-respond-to-paul-tudor-jones-comments/2013/06/01/1e7ece98-ca20-11e2-9245-773c0123c027_story.html|access-date=December 30, 2019|agency=The Washington Post|issue=Education|newspaper=The Washington Post|date=June 1, 2013|location=United States|language=en|url-access=subscription|archive-date=December 30, 2019|archive-url=https://web.archive.org/web/20191230195902/https://www.washingtonpost.com/local/education/u-va-faculty-members-press-officials-to-respond-to-paul-tudor-jones-comments/2013/06/01/1e7ece98-ca20-11e2-9245-773c0123c027_story.html|url-status=live}} Jones answered "saying that having a baby hurts the ability of women to focus on macro trading, where investors seek to profit from global equity, bond, currency and commodities markets."{{cite news|last1=Lauerman|first1=John|last2=Kishan|first2=Saijel|title=Tudor's Jones Apologizes for Remarks on Female Traders|url=https://www.bloomberg.com/news/articles/2013-05-23/tudor-s-jones-seeks-to-clarify-remarks-on-female-traders-birth|access-date=January 1, 2020|agency=Bloomberg L.P.|issue=Economics|publisher=Bloomberg News|date=May 24, 2013|location=United States|language=en|url-access=limited|archive-date=January 1, 2020|archive-url=https://web.archive.org/web/20200101211426/https://www.bloomberg.com/news/articles/2013-05-23/tudor-s-jones-seeks-to-clarify-remarks-on-female-traders-birth|url-status=live}} The soundbite from Jones' five minute answer that received attention was: "As soon as that baby’s lips touched that girl’s bosom, forget it". The Washington Post reported Jones' answer as meaning that: "female traders are just as capable as male traders, but he believes they lose their focus once they become mothers." Jones' comments quickly drew criticism from fellow traders, members of the media and others regarding mothers in his field of global macro trading. Jones apologized soon afterwards{{cite news|last1=Herbst-Bayliss|first1=Svea|last2=Adler|first2=Leslie|title=Billionaire investor apologizes for saying women traders inferior|url=https://www.reuters.com/article/us-hedgefunds-tudor-apology/billionaire-investor-apologizes-for-saying-women-traders-inferior-idUSBRE94N0XV20130524|access-date=December 31, 2019|agency=Thomson Reuters|issue=Wealth|publisher=Reuters|date=May 24, 2013|location=Boston, MA, United States|language=en|archive-date=December 31, 2019|archive-url=https://web.archive.org/web/20191231174335/https://www.reuters.com/article/us-hedgefunds-tudor-apology/billionaire-investor-apologizes-for-saying-women-traders-inferior-idUSBRE94N0XV20130524|url-status=live}} which did not cease the criticism he received. In a written statement sent to the Washington Post, Jones stated that "My off-the-cuff remarks at the University of Virginia were with regard to global macro traders, who are on-call 24/7 and of whom there are likely only a few thousand successful practitioners in the world today. Macro trading requires a high degree of skill, focus and repetition. Life events, such as birth, divorce, death of a loved one and other emotional highs and lows are obstacles to success in this specific field of finance."

Jones was a friend of film producer Harvey Weinstein and a member of the board of The Weinstein Company. In 2017, as Weinstein came under increasing pressure for sexual misconduct allegations, Jones wrote him an email encouraging him that the scrutiny would soon end, and advising him on how he could revive his reputation.{{Cite web |url=https://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12 |title=Hedge fund titan Paul Tudor Jones once said the 'good news' is that everyone would eventually forget what Harvey Weinstein did |website=Business Insider |access-date=February 20, 2020 |archive-date=February 20, 2020 |archive-url=https://web.archive.org/web/20200220032140/https://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12 |url-status=live }}{{Cite news |url=https://www.bloomberg.com/news/articles/2017-12-06/paul-tudor-jones-told-weinstein-sex-allegations-would-blow-over |title=Paul Tudor Jones Told Weinstein That Sex Allegations Would Blow over |newspaper=Bloomberg.com |date=December 6, 2017 |access-date=February 20, 2020 |archive-date=February 20, 2020 |archive-url=https://web.archive.org/web/20200220032141/https://www.bloomberg.com/news/articles/2017-12-06/paul-tudor-jones-told-weinstein-sex-allegations-would-blow-over |url-status=live }} Weinstein was convicted in 2020 and sentenced to 23 years for sexual assault. Jones distanced himself from Weinstein in a written statement, stating: "Harvey was a friend I believed too long and defended too long."{{Cite web |url=https://www.cnbc.com/2017/12/06/paul-tudor-jones-distances-himself-from-harvey-weinstein.html |title=Billionaire Paul Tudor Jones distances himself from disgraced Hollywood mogul Harvey Weinstein |access-date=February 20, 2020 |archive-date=February 20, 2020 |archive-url=https://web.archive.org/web/20200220032143/https://www.cnbc.com/2017/12/06/paul-tudor-jones-distances-himself-from-harvey-weinstein.html |url-status=live |first=Liz |last=Moyer |date=December 6, 2017 |work=CNBC}}

Reputation

In 1987, PBS produced a documentary entitled Trader which focused on Jones's activities. The film shows Jones as a young man predicting the 1987 crash, using methods similar to those of market forecaster Robert Prechter. Although the video was shown on public television in November 1987, Jones requested in the 1990s that the documentary be removed from circulation.{{cite news|last1=ThomasJr.|first1=Landon|title=The Man Who Won as Others Lost|url=https://www.nytimes.com/2007/10/13/business/13speculate.html|access-date=November 17, 2007|agency=The New York Times Company|issue=Business Day|page=C1|work=New York Times|date=October 13, 2007|location=New York, N.Y., United States|language=en|archive-date=August 28, 2011|archive-url=https://web.archive.org/web/20110828113810/http://www.nytimes.com/2007/10/13/business/13speculate.html|url-status=live}} The video has surfaced from time to time on different video sharing and torrent sites, but has often been taken down shortly thereafter due to copyright claims. Various theories exist as to why Jones does not support the film.{{cite news|last1=Lopez|first1=Linette|title=A Few Possible Reasons Why Paul Tudor Jones Despises His Infamous Documentary, 'Trader'|url=https://www.businessinsider.com/why-paul-tudor-jones-hates-trader-2013-1|access-date=February 6, 2017|agency=Business Insider Inc.|publisher=Business Insider|date=January 23, 2013|location=United States|language=en|archive-date=February 6, 2017|archive-url=https://web.archive.org/web/20170206184728/http://www.businessinsider.com/why-paul-tudor-jones-hates-trader-2013-1|url-status=live}} Despite the film's showing a positive approach to risk and client care, as well as showcasing Jones's charity work, it has been suggested that the film may reveal trading secrets.

In 1988, at the age of 33, "The Wall Street Journal dedicated a front-page story to Jones, calling him “the most-watched, most-talked-about man on Wall Street.”"

Having a low profile within financial media circles beginning in the late 1980s through to a report in 1997, Jones kept interviews with financial reporters to a minimum; while keeping a low profile in financial circles he was visible appearing on Larry King Live, promoting his Save Our Everglades campaign and the Robin Hood Foundation.{{cite news|last1=Willoughby|first1=Jack|title=Saving the world with Paul Tudor Jones|url=https://www.institutionalinvestor.com/|access-date=January 4, 2020|agency=Institutional Investor LLC|volume=31|page=60|publisher=Institutional Investor|date=July 1, 1997|language=en|url-access=limited|archive-date=January 2, 2020|archive-url=https://web.archive.org/web/20200102183622/https://www.institutionalinvestor.com/|url-status=live}}

In 2019, Reuters has described Jones as ‘one of the giants’ and reported that Jones is considered a legend among macro traders.{{cite news|last1=Delevingne|first1=Lawrence|last2=Herbst-Bayliss|first2=Svea|title=Bacon's Moore Capital to return client capital after 30 years|url=https://www.reuters.com/article/us-moorecapital-closure/bacons-moore-capital-to-return-client-capital-after-30-years-idUSKBN1XV1JU|access-date=December 27, 2019|agency=Thomson Reuters|issue=Wealth|publisher=Reuters|date=November 21, 2019|language=en|archive-date=December 27, 2019|archive-url=https://web.archive.org/web/20191227171743/https://www.reuters.com/article/us-moorecapital-closure/bacons-moore-capital-to-return-client-capital-after-30-years-idUSKBN1XV1JU|url-status=live}}

In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame along with Alfred Jones, Bruce Kovner, David Swensen, George Soros, Jack Nash, James Simons, Julian Roberston, Kenneth Griffin, Leon Levy, Louis Bacon, Michael Steinhardt, Seth Klarman and Steven A. Cohen.{{cite news|title=Cohen, Simons, 12 Others Enter Hedge Fund Hall|url=https://www.institutionalinvestor.com/article/b18bl36h7n2yzt/cohen-simons-12-others-enter-hedge-fund-hall|access-date=June 16, 2019|agency=Institutional Investor LLC|publisher=Institutional Investor|date=September 23, 2008|language=en|url-access=limited|archive-date=June 16, 2019|archive-url=https://web.archive.org/web/20190616211911/https://www.institutionalinvestor.com/article/b18bl36h7n2yzt/cohen-simons-12-others-enter-hedge-fund-hall|url-status=live}}

In 2019, he received the Golden Plate Award of the American Academy of Achievement, presented by Awards Council member Dr. Francis Collins, the director of the National Institutes of Health, during the International Achievement Summit in New York City.{{cite web|title=Golden Plate Awardees of the American Academy of Achievement|website=www.achievement.org|publisher=American Academy of Achievement|url=https://achievement.org/our-history/golden-plate-awards/#business|access-date=October 6, 2020|archive-date=December 15, 2016|archive-url=https://web.archive.org/web/20161215023909/https://achievement.org/our-history/golden-plate-awards/#business|url-status=live}}{{cite web|title=2019 Summit Highlights Photo: 2019 Academy honorees Paul Tudor Jones II, Steven Tyler, and Armando Christian Pérez, with Summit Co-Host John Overdeck at the Banquet of the Golden Plate Award gala held at the rooftop ballroom of the St. Regis Hotel.|publisher=American Academy of Achievement|url=https://achievement.org/summit/2019/|access-date=October 6, 2020|archive-date=September 19, 2020|archive-url=https://web.archive.org/web/20200919192934/https://achievement.org/summit/2019/|url-status=live}}

Personal life

By the mid-1980s, Jones as reported by Institutional Investor magazine was "developing a reputation for courting models and partying long into the night" and the Wall Street Journal ran a front-page article referring to Jones as Quotron Man in a profile covering his lifestyle. This was transpiring in 1987, as there was a general backlash against excesses on Wall Street. In 1988, Jones married Australian-born Sonia Klein, a New York–based yoga entrepreneur at a wedding in Memphis. In the early 1990s, Jones moved to Greenwich, Connecticut. They have three daughters and a son. His eldest daughter, Caroline, is a country-pop singer and musician and a member of the Zac Brown Band since 2022. Jones has encouraged his three daughters to go into macro trading. He resides in Palm Beach, Florida.

Politics and associations

A political independent, Jones has donated money to numerous Democratic and Republican candidates. In 2012 he donated $200,000 to Mitt Romney.{{cite web|url=http://www.politico.com/politico44/2012/06/obamaromney-matchup-pits-husband-vs-wife-126253.html|title=Obama-Romney matchup pits husband vs. wife|date=June 14, 2012|publisher=Politico.Com|access-date=December 1, 2013|archive-date=December 3, 2013|archive-url=https://web.archive.org/web/20131203063716/http://www.politico.com/politico44/2012/06/obamaromney-matchup-pits-husband-vs-wife-126253.html|url-status=live}} During the 2008 presidential election, Jones hosted a 500-person fundraiser at his Greenwich home for then-candidate Barack Obama.{{cite news|url=http://observer.com/2007/04/big-rudy-guy-and-allan-houston-to-raise-money-for-obama|title=Big Rudy Guy and Allan Houston to Raise Money for Obama|date=April 23, 2007|newspaper=The New York Observer|access-date=June 12, 2014|archive-date=July 15, 2014|archive-url=https://web.archive.org/web/20140715161232/http://observer.com/2007/04/big-rudy-guy-and-allan-houston-to-raise-money-for-obama/|url-status=live}} Jones also donated to John McCain and Rudy Giuliani's presidential campaigns.{{cite news|title=Hedge Fund Moguls Back Giuliani's Presidential Fund|url=https://dealbook.nytimes.com/2007/02/01/hedge-fund-moguls-back-giulianis-presidential-fund/|access-date=December 1, 2013|agency=The New York Times Company|issue=DealBook|work=New York Times|date=February 1, 2007|location=United States|language=en|archive-date=December 4, 2013|archive-url=https://web.archive.org/web/20131204112851/http://dealbook.nytimes.com/2007/02/01/hedge-fund-moguls-back-giulianis-presidential-fund/|url-status=live}}

Jones previously served as a director of the Futures Industry Association and was instrumental in the creation and development of an education-arm for the association—the then Futures Industry Institute, a research institute later renamed the Institute for Financial Markets based in Washington D.C. Mr. Jones was also an advocate for the design and implementation of the first ethics training course that became the standard for exchange membership on all futures exchanges in the United States.{{cite web |title=Paul Tudor Jones |url=https://www.octafinance.com/paul-tudor-jones/ |website=Octa Finance |access-date=March 22, 2025 |date=August 23, 2018}}