'Hedge Fund Legend' Robertson Passes Away at 90 Years Old

[Asia Economy New York=Special Correspondent Joselgina] Julian Robertson, a legendary figure in the US hedge fund industry and billionaire investor who founded Tiger Fund, has passed away at the age of 90.

According to the Wall Street Journal (WSJ), Robertson's spokesperson confirmed on the 23rd (local time) that Robertson died of a heart-related illness at his home in Manhattan, New York.

Ranked alongside George Soros as one of the two giants of Wall Street, Robertson is also well known to domestic investors as a major shareholder of SK Telecom who demanded improvements in corporate governance shortly after the 1998 Asian financial crisis.

Born in 1932 in North Carolina, he graduated from the University of North Carolina, served as a naval officer, and after discharge, was employed as a stockbroker at a securities firm in New York. After founding Tiger Fund in 1980 with an investment of $8 million, he attracted market attention by achieving an average annual growth rate of over 30%. However, during the dot-com bubble, he suffered astronomical losses, returned investors' funds, and wound down Tiger Fund.

Bill Hwang (Korean name Hwang Sung-guk), a Korean-American investor who caused losses of $10 billion (approximately 13.4 trillion won) to international financial firms last year, is also a member of Robertson's prot?g? group called the 'Tiger Cubs.'

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