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Hedge Funds

Billionaire Dan Loeb's Quant Trading Effort Sparked Legal Battle Over 32-Year-Old Data Scientist

by forbes.com posted 1year ago 2291 views
<p>In November, Matthew Ober tendered his resignation as co-head of data strategy at Igor Tulchinsky&rsquo;s WorldQuant, a quantitative trading firm that trades for billionaire Israel Englander&rsquo;s Millennium Management, one of the biggest hedge funds on Wall Street with $34 billion under management.</p> <p>Ober, 32, told his bosses that he would be joining Third Point, the $17 billion hedge fund run by billionaire Dan Loeb. Ober had been making $200,000 annually at WorldQuant, but Loeb had offered Ober an annual salary of $2 million to be Third Point&rsquo;s chief data scientist, legal filings show.</p>