Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist. He is the founder and chief executive of Moore Capital Management. Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400 as of February 2017. Early life and education Bacon was born in Raleigh, North Carolina on July 25, 1956. His father, Zachary Bacon Jr., founded real estate company Bacon & Co. and later led Prudential Financial’s and Merrill Lynch’s real estate efforts in North Carolina. Bacon graduated from Episcopal High School in Alexandria, Virginia. He attended Middlebury College in Vermont where he received his BA in American literature, graduating in 1979. Bacon met Walter Frank while he was working on a fishing boat on Long Island. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. He subsequently received his MBA degree in finance at Columbia Business School in 1981. While at Columbia, Bacon traded commodities using a low interest loan he had received. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. He turned a profit during his fourth semester. Investment career After receiving his MBA, Bacon joined the sales and trading program at Bankers Trust. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. Bacon took a job on the floor of the New York Cotton Exchange, working as a "runner". Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division. In 1987 Bacon founded Remington Trading Partners. His market insights allowed him to profit during the market crash and subsequent rebound. In 1989, Bacon used his middle name when he founded Moore Capital Management LLC; in 1990 he founded Moore Global Investments, using $25,000 inherited from his family. In 2006, Forbes magazine ranked Bacon as the 746th richest person in the world; in 2011 it ranked him as the 736th richest man. In 2010, the Denver Post reported that Bacon's net worth of $1.6 billion ranked him as the 238th richest American. In March 2010 Forbes Magazine estimated Bacon's net worth to be $1.5 billion, and ranked him as the 655th