Micheal Novogratz

CEO of Galaxy Investment Partners
Summary

Michael E. Novogratz is the CEO of Galaxy Investment Partners. He was formerly a principal and a member of the board of directors of Fortress Investment Group LLC and Chief Investment Officer of the Fortress Macro Fund. 

Mr. Novogratz joined Fortress in 2002 after spending 11 years at Goldman Sachs, where he was elected partner in 1998. Mr. Novogratz founded and serves as the Chairman of the Board for Beat the Streets, a non-profit organisation which builds wrestling programs in New York City public schools and is also the Honorary Chairman of USA Wrestling Foundation. Mr. Novogratz is Chairman of The Friends of the Hudson River Park. 

He also serves on the board of the Acumen Fund, NYU Langone Medical Center, Princeton Varsity Club and The Jazz Foundation of America. Mr. Novogratz received an AB from Princeton University in Economics, and served as a helicopter pilot in the US Army. Novogratz is a noted cryptocurrency proponent, saying in 2017 that at least 20% of his net worth was in Bitcoin and Ether.

Biography

Mr Novogratz was a salesman and partner at Goldman Sachs, an American multinational investment banking and financial services company from 1992 to 1998. In 2002, he joined the investment firm Fortress Investment Group as a macro hedge fund manager and CEO. In 2010 he was appointed as a member of the board of the Hudson River Park Trust.

 Novogratz has served as one of Bitcoin’s most faithful bulls through the years, and his attitude even inspired a popular YouTube video from 2018 titled “Bitcoin pls go to moon.” The video surfaced during the digital asset’s bear market years ago and included Novogratz’s bullishness at the time, even amid an uncertain crypto market. Novogratz promoted Bitcoin during a number of interviews with mainstream media outlets in 2020. Under his leadership, the Toronto Stock Exchange welcomed Galaxy Digital into its regulatory sandbox. The investment firm had a noteworthy third quarter, in line with the overall rise in the crypto sector, with the quarter’s trading volume boasting a 75% increase over the previous year’s. By the quarter’s end, the outfit also touted $407.4 million in assets under management. 

Through Galaxy digital, Novogratz also unveiled plans for a Canadian Bitcoin Fund. At the beginning of 2021, Novogratz pointed out that institutions are playing an expanding role in Bitcoin’s upward trend. After entrances from large firms like MicroStrategy in 2020, one might logically see big players continue buying through 2021.


Vision

Micheal Novogratz's vision encompasses a future where digital assets and decentralized systems reshape the global financial landscape. Novogratz has been a strong advocate for the adoption and mainstream integration of cryptocurrencies, and his vision reflects a deep understanding of their potential impact on various aspects of society.

One core aspect of Novogratz's vision is the belief that cryptocurrencies, particularly Bitcoin and Ethereum, will become the backbone of a new financial system. He sees these digital currencies as transformative technologies that can provide financial inclusion to the unbanked, facilitate seamless cross-border transactions, and reduce the costs and inefficiencies associated with traditional banking systems. Novogratz envisions a world where individuals have greater control over their finances, free from the constraints imposed by intermediaries.


Recognition and Awards
In 2007 and 2008, he made it to the billionaires list of Forbes. Viewers can often find Michael Novogratz featured in interviews with CNBC, as well as other media outlets, in which he discusses various financial topics, including his latest thoughts on Bitcoin and other components of the cryptocurrency industry. He won twice in 1986 and 1987, at a tournament organised by the National Association of University Sports (NCAA) in the weight category of 68 kg.

References
Micheal Novogratz
Residence
New York, USA
Occupation
Investment Banker and Army Pilot
Known for
Fortress Group and Honorary Chairman of USA Wrestling Foundation
Education
Princeton University
Social Media
Fri Feb 23 2024
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