Haute 100: Soros Fund Management Place New Bets on 3 Silicon Valley Companies

George Soros

As of Monday, Nov. 16th, Haute 100 lister George Soros’ hedge fund management has betted on a number of Silicon Valley businesses as well as a casino operator. According to changes that were disclosed in a U.S. Securities and Exchange Commission filing, Soros Fund Management has took new share in on-demand Internet streaming media Netflix, casino operator Wynn Resorts, the e-commerce site Amazon and online payment system Paypal.

As of the aforementioned date, Soros own 317,534 Netflix shares worth $32.79 million, 187,103 Wynn shares worth $9.9 million, 77,877 Amazon.com shares worth $39.9 million and a 4.43 million share stake worth $137.5 million in PayPal.

As for Herbalife Ltd, a stake the Soros Fund Management held as many as 3.4 million shares of the company that develops, markets and sells nutrition supplements, weight management, sports nutrition and more. However, in June, Soros got rid of 2 million shares, which was worth $108 million. In the third quarter, of this year, the management fund purged the remaining shares of Herbalife Ltd. In total the company unloaded 1.969 million-share stakes in Herbalife Ltd.

The abovementioned information is based off 13F filings.

Earlier this year, Soros invested $2 million in his protégé, Scott Bessent, hedge fund.

“Over the past four years, Scott has managed the firm’s assets with skill and dedication,” said Robert Soros, George’s son, in the memo. “He has decided to start his own venture because of the constraints involved in working with a family office structure, which prevent him from raising outside capital.”

Bessent has spent a large amount of his career managing Soros’ funds, including overseeing his European investments for approximately eight years in the 1990s, and then later returning to the firm in 2011. The Soros family has made $10 billion in profit thanks to Bessent’s efforts.

Bessent is slated to leave the company at the end of this year.

Photo via Wikimedia Commons