Leon Cooperman was born and raised in the South Bronx, New York City. He earned his BA in business administration from Hunter College and an MBA from Columbia University. After completing his education, Cooperman started his career as a researcher and analyst at Goldman Sachs in 1967. He worked his way up and became a general partner, and then the Chairman and CEO of the Asset Management Division. However, Cooperman was forced to step down from his position at Goldman Sachs due to insider trading allegations.
In 1991, Cooperman started his own asset management company, Omega Advisors. With his incredible investment strategies, he grew his company into one of the most successful hedge funds in the world. In 2016, he announced his plans to shut down Omega Advisors and return money to his investors, citing tax issues and lackluster performance.
Apart from his successful career in finance, Cooperman is known for his generous philanthropy. He has donated millions of dollars to various organizations, including Hunter College, Columbia Business School, and the Gary Sinise Foundation.
Cooperman has also been an active advocate for the financial industry, serving on the board of the Managed Funds Association and advocating for the Dodd-Frank financial reforms.
In recent years, Cooperman has been under the regulatory scanner. He was charged by the Securities and Exchange Commission (SEC) with insider trading in 2016, although he was acquitted of all charges. He has also been critical of the current market and economic situation, voicing his concerns about the rising debt levels and the ongoing policy of low interest rates.