Jeffrey Vinik
Encyclopedia
Jeffrey N. Vinik is the current owner of the Tampa Bay Lightning
(NHL
) and the Tampa Bay Storm
(AFL
), as well as a minority owner of the Boston Red Sox
(MLB
). He is also on the board of directors for Liverpool Football Club of the Premier League.
in 1981 with a bachelor of science in civil engineering. He also obtained an MBA from Harvard Business School
in 1985.
from 1992 to 1996, where he averaged 17% annual returns. After leaving Fidelity, he started a hedge fund called Vinik Asset Management. He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio.
.
Tampa Bay Lightning
The Tampa Bay Lightning are a professional ice hockey team based in Tampa, Florida. They are members of the Southeast Division of the Eastern Conference of the National Hockey League . They have one Stanley Cup championship in their history, in 2003–04. They are often referred to as the...
(NHL
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
) and the Tampa Bay Storm
Tampa Bay Storm
The Tampa Bay Storm are an Arena Football League team based in the Tampa Bay Area of Florida. They play their home games in the St. Pete Times Forum in Tampa....
(AFL
Arena Football League
The Arena Football League is the highest level of professional indoor American football in the United States. It is currently the second longest running professional football league in the United States, after the National Football League. It was founded in 1987 by Jim Foster...
), as well as a minority owner of the Boston Red Sox
Boston Red Sox
The Boston Red Sox are a professional baseball team based in Boston, Massachusetts, and a member of Major League Baseball’s American League Eastern Division. Founded in as one of the American League's eight charter franchises, the Red Sox's home ballpark has been Fenway Park since . The "Red Sox"...
(MLB
Major League Baseball
Major League Baseball is the highest level of professional baseball in the United States and Canada, consisting of teams that play in the National League and the American League...
). He is also on the board of directors for Liverpool Football Club of the Premier League.
Early life
Vinik was born in Deal, N.J He graduated Phi Beta Kappa from Duke UniversityDuke University
Duke University is a private research university located in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present day town of Trinity in 1838, the school moved to Durham in 1892. In 1924, tobacco industrialist James B...
in 1981 with a bachelor of science in civil engineering. He also obtained an MBA from Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
in 1985.
Career
Vinik managed the Fidelity Magellan FundMagellan Fund
The Fidelity Magellan Fund is a US-domiciled mutual fund from the Fidelity family of funds. It is perhaps the world’s best known actively managed mutual fund...
from 1992 to 1996, where he averaged 17% annual returns. After leaving Fidelity, he started a hedge fund called Vinik Asset Management. He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio.
Philanthropy
Vinik and his wife, Penny, donated $5 million to Duke's engineering schoolEdmund T. Pratt Jr. School of Engineering
The Edmund T. Pratt Jr. School of Engineering is one of two undergraduate schools at Duke University in Durham, North Carolina, USA. The other is the Trinity College of Arts and Sciences. It is also one of ten graduate and professional schools at Duke...
.