Michael Burry made $100 million by predicting the housing market crash in The Big Short. Mark Baum, based on Steve Eisman, earned $1 billion from the market crash depicted in the film. Jared Vennett, based on Greg Lippmann, made $47 million from swap sales as shown in the movie.
Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000, inception and June 2008.
While this is an impressive sum, and Burry is widely credited with being the first to predict the collapse of the red-hot housing market, Steve Eisman, upon which the Big Short character Mark Baum (played by Steve Carell) was based, made a staggering $1 billion shorting collateralized debt obligations (CDOs), a type of ...
Why in the movie The Big Short, Jamie and Charlie bet 12 million on CDSs, a return of 25 to 1 and generate 300 million, but the returns didn't happen and they had to sell the CDSs for 80 million?
NET WORTH. Michael Burry's estimated net worth is around $300 million. Burry became millionaire at the age of 29, when he sold part of his Scion Capital hedge fund to investors. Michael Burry is NOT in Forbes World Billionaires list or in Bloomberg Billionaires Index.
FrontPoint Partners
In the movie adaptation of Lewis' book, The Big Short, Eisman's name was changed to Mark Baum, and he was portrayed by actor Steve Carell. He left FrontPoint Partners in 2011 amid investor withdrawals following an investigation of illegal insider trading by portfolio manager Chip Skowron.
Key Takeaways. Michael Burry is an investor who profited from the subprime mortgage crisis by shorting the 2007 mortgage bond market, making $100 million for himself and $700 million for his investors. Burry shut down his hedge fund, Scion Capital, in 2008.
The estimated net worth of Mark L Baum is at least $89 Million dollars as of 2025-01-12. Mark L Baum is the CHIEF EXECUTIVE OFFICER of Harrow Inc and owns about 2,137,525 shares of Harrow Inc (HROW) stock worth over $78 Million.
Did Anyone Go to Jail for the 2008 Financial Crisis? Kareem Serageldin was the only banker in the United States who was sentenced to jail time for his role in the 2008 financial crisis. He was convicted of hiding losses by mismarking bond prices.
Not everyone, however, lost money during the worst economic downturn in American history. Business titans such as William Boeing and Walter Chrysler actually grew their fortunes during the Great Depression.
Morgan Stanley lost $58 billion in the financial crisis overall.
While he closed Scion Capital in 2008, he now runs Scion Asset Management, a hedge fund that has over $103 million in assets under management. Although subprime mortgages are making a comeback today under a new name, Burry isn't betting against housing today, at least not yet.
Jared Vennett receives a bonus of $47 million for profits made on his credit default swaps. Mark Baum becomes more gracious from the financial fallout, and his staff continue to operate their fund.
He has a glass eye-
Because of a rare form of cancer, he had to get his left eye removed before the age of two. After a certain age, he has been donning a glass eye, which has made it difficult for him to make proper eye contact with people.
Michael Burry's thesis is pretty clear now. With the demand for almonds continuing to grow, the farmland with the best access to onsite water is the one that is going to win out in the end, gaining share as competing almond farmers run out of water and are forced out of the marketplace.
I would say that it is fairly accurate, but does not give a complete picture. The creators very much have an opinion about what caused the crisis, and who was in the wrong. There are many key facets of the crisis that are completely ignored.
Even when the collapse of the economy is imminent, Baum holds off on selling until the very last moment of the movie. In Baum's eyes, if he sold his position, then he would be no better than those other people, whom he considered “crooks.”
Jared Vennett, a fake name used in the film, was based on Greg Lippmann, Deutsche Bank's executive. He sold swaps and earned $47 million from the housing market crash. Jamie Shipley and Charlie Geller co-headed Cornwall Capital, a private financial investment corporation, which they left to pursue new ventures.
Burry made his bet through his hedge fund, Scion Capital. His investors thought the play was reckless, and he endured vicious criticism -- up until it eventually paid off when the housing market crashed in 2008. Burry took home an estimated $100 million, and Scion's investors pocketed a whopping $700 million.
What is Keith Gill's net worth in 2025? If Gill's Gamestop position hasn't changed since he last made it public in June 2024, he owns 9 million shares, which as of early 2024, would be worth around $275 million. If Gill still holds both of these stock positions, his net worth could be around $580 million.
Michael Burry's early life
He graduated from the University of California in Los Angeles, where he earned a bachelor's degree in economics. He then moved on to attain an M.D. from Vanderbilt University School of Medicine.