Julian Robertson, NC native and hedge fund pioneer, dies at 90
Julian Robertson, a billionaire investor and North Carolina native, has died.
Robertson died at his New York home Tuesday. He was 90 years-old. His son Alex told the New York Times that Robertson died of cardiac complications.
Born in Salisbury, Robertson graduated from UNC-Chapel Hill in 1955 and later went to work at the investment firm Kidder Peabody. He founded Tiger Management in 1980, one of the nation's first hedge funds, which grew to more than $21 billion dollars in assets.
In 2000, Robertson and his wife Josie gave $24 million to establish the Robertson Scholars Leadership program, which allows 36 students each year to take classes at both UNC and Duke.
“Julian Robertson was a Carolina legend and business pioneer who revolutionized Wall Street,” UNC-Chapel Hill Chancellor Kevin Guskiewicz told the News & Observer.
The New York Times credited Robertson with pushing "short-selling into the mainstream, helping to create the modern hedge fund industry."
Robertson gave away an estimated $2 billion of his fortune over his lifetime, according to Reuters.
The Navy veteran is survived by three sons and nine grandchildren.
WUNC digital producer Mitchell Northam contributed to this report.