Forbes - Forbes Billionaire #341 (September 2013) lyrics

Daniel Loeb, the founder and head of $13 billion hedge fund firm Third Point, is at the forefront of the activist investing wave that is storming financial markets. He is trying to shake things up in Japan, a country that has long resisted corporate reforms, by agitating for change at Sony. He recently sold most of his shares in Yahoo at a big profit after helping to transform the flailing Internet giant. But his activist investing doesn't always make him popular and Loeb recently was attacked by actor George Clooney, who called him a "carpet bagger" for trying to get Sony to spin off its a**ets in Hollywood. Still, Loeb's investors like him. Loeb had a fabulous year in 2012. His flagship hedge fund beat the U.S. stock market, which most hedge funds failed to do, with a 21.2% net return. His smaller leveraged fund was one of the best-performing hedge funds in 2012. In the first seven months of 2013, Loeb's main hedge fund returned 15.9%. Known for firing off harsh letters lambasting corporate executives and board members of companies he is targeting, Loeb is trying to push for change at Sony in a more delicate and careful manner. While he has blasted the leadership of Sony Pictures Entertainment, he has been respectful and complimentary to Kazuo Hirai, Sony's chief executive. Loeb also made news in early 2013 by taking a position in Herbalife, the nutritional supplements seller, shortly after another prominent hedge fund manager, William Ackman, called the company a pyramid scheme. He sold his stake within weeks for a big profit. He serves as the chairman of the board of Success Academies Charter Schools in Brooklyn, helps lead Students First New York., and is a trustee of Prep for Prep. Beyond education, he is also a trustee of the US Olympic Foundation, Mt. Sinai Hospital, the Manhattan Institute and the LA MOCA.