Paul Tudor Jones

Paul Tudor Jones II's father John Paul "Jack" Jones practiced transportation law from an office located next door to The Daily News, a publication his family has owned and operated since 1886 and where Jack Jones was the publisher for 34 years.

His half-brother is Peter Schutt.

Jones graduated from Presbyterian Day School, an all-boys elementary school, before attending Memphis University School for high school.

Jones then went on to the University of Virginia where he was a welterweight boxing champion.

While at the University of Virginia, Jones was president of the Sigma Alpha Epsilon fraternity.

To pay for tuition, Jones wrote for his family's paper under the pseudonym Paul Eagle.

Paul Tudor Jones II (born September 28, 1954) is an American billionaire hedge fund manager, conservationist and philanthropist.

In 1976, he earned a bachelor's degree in economics from the University of Virginia.

In 1976, after graduating from the University of Virginia Jones asked his cousin William Dunavant Jr. for an introduction to trading.

Dunavant was the CEO of Dunavant Enterprises, one of the world's largest cotton merchants.

Dunavant sent Jones to talk with commodity broker Eli Tullis in New Orleans.

Tullis represented some of the largest cotton traders in the world.

Tullis hired Jones and mentored him in trading cotton futures at the New York Cotton Exchange.

Eli Tullis fired Jones when he fell asleep at his desk after a night of partying in New Orleans.

In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut.

Eight years later, he founded the Robin Hood Foundation, which focuses on poverty reduction.

As of April 2022, his net worth was estimated at US$7.3 billion.

Jones was born in Memphis, Tennessee.

In the 1980s, Jones was accepted to Harvard Business School but did not attend.

1980 Founding – In 1980, Jones founded Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut.

At the time, Jones was still a relatively unknown trader.

Dunavant and Tullis were among Tudor's first clients.

In one of Commodities Corporation's first external investments, Tudor was given provided $30,000 to manage.

Tudor (i.e. Jones) used his experience in trading cotton to branch into other commodities and financial instruments such as stock-index contracts and currency futures.

Many years later, Jones served as treasurer in 1986 and then as chairman of the New York Cotton Exchange from August 1992 through June 1995.

At 24 years old, Jones became a commodities broker for E. F. Hutton & Co. While working at E.F. Hutton Jones met, worked with and became friends with Glenn Dubin.

Jones' firm manages $12 billion (as of 2022).

Their investment capabilities are broad and diverse, including global macro trading, fundamental equity investing in the U.S. and Europe, emerging markets, venture capital, commodities, event-driven strategies, and technical trading systems.

The Tudor Group, consisting of Tudor Investment Corporation and its affiliates, is involved in active trading, investing, and research in assets across fixed income, currencies, equities, and commodities asset classes and related derivative and other instruments in the global markets for an international clientele.

The investment strategies of the Tudor Group include, among others, discretionary global macro, quantitative global macro (managed futures), discretionary equity long/short, quantitative equity market neutral and growth equity.

Fees – Although the hedge fund industry standard is two percent per annum of assets under management and twenty percent of the profits, Tudor Investment Corp. charges four percent per annum of assets under management and twenty-three percent of the profits.

1987 Black Monday – One of Jones' earliest and major successes was predicting Black Monday in 1987, tripling his money during the event due to large short positions.

In 1987, betting on a crash in the United States stock market Jones' Tudor' returned 125.9 percent after fees, earning an estimated $100 million.

Peter Borish, second-in-command to Jones at Tudor Investment Corporation, anticipated the crash in 1987 by mapping the 1987 market against the market preceding the 1929 crash.

1990s – Tudor achieved greater liquidity and thereby flexibility through Jones' chairmanship of the NYCE's Finex subsidiary.

Jones, with his colleague Hunt Taylor, was instrumental in the creation of FINEX, the financial futures division of the New York Board of Trade, and in the development of their U.S. dollar index futures contract.

1990 – In 1990, as the Japanese equities bubble was bursting, Jones returned 87.4 percent through shorting the market.

1991 – Jones closed the Tudor Select Fund, a futures fund, and returned investor capital.

1994 SEC Settlement – In 1994, Tudor paid a fine of $800,000 (the second highest at the time) to the SEC to settle allegations of violating (while not admitting or denying wrongdoing) the uptick rule, part of the Securities Exchange Act of 1934 that prohibits the sale of a borrowed stock while the stock is declining.

2000s – In 2014, the New York Times noted that returns for Tudor clients had "dimmed" over the decade following Jones' "deliberate move to trade more conservatively, fewer big interest-rate and currency moves as central banks kept short-term rates near zero and more competition as the hedge fund universe has mushroomed.