Stephen Frank Mandel Jr. (born March 12, 1956) is an American hedge fund manager, investor, and philanthropist. He founded Lone Pine Capital in 1997, after working as the managing director at Tiger Management. According to Forbes, Mandel has an estimated net worth of US$3.9 billion as of August 2022.
Early life Mandel is the son of Ann (née Safford) and Stephen Frank Mandel, and was raised in Darien, Connecticut.Dartmouth Alumni Magazine: "Stephen Frank Mandel ’52" Jan-Feb 2010Stamford Advocate: "Stephen Frank Mandel" September 13, 2009 He has a brother, Edward Safford Mandel.New York Times: "Betsy B. Phillips To Wed in May" January 18, 1987 In 1974, Mandel graduated from the Phillips Exeter Academy. In 1978, he graduated from Dartmouth College with a Bachelor of Arts in government and was a member of the Psi Upsilon fraternity. He also has an M.B.A. from Harvard University.Forbes: The World's Billionaires: Stephen Mandel Jr. March 2013
Investment career From 1982 to 1984, he worked at Mars & Co as a senior consultant"Steve Mandel Profile," GuruFocus.com and then from 1984 to 1990, he worked as a consumer-retail analyst at Goldman Sachs"Cult of Personalities," Institutional Investor Alpha, October 2008 before working as a consumer analyst and eventually managing director at Tiger Management, a hedge fund founded by Julian Robertson. Robertson, himself a billionaire, referred to Mandel as "probably the greatest analyst of all time."
In 1997, he left Tiger Management with backing from Robertson, and founded his own hedge fund, Lone Pine Capital (named after a Dartmouth College pine tree that survived an 1887 lightning strike).Forbes: The World's Billionaires - Stephen Mandel Jr March 2008
Forbes listed Stephen Mandel as one of the 40 Highest-Earning hedge fund managers in 2012, one of the top 25 in 2013, and one of the top 15 in 2018.
As of January 2019, Mandel will no longer manage investments for his Lone Pine Capital but will remain a managing director.
Wealth and philanthropy According to Forbes Magazine, Mandel has a net worth of $3.9 billion as of October 2021. An increase of $1.1B, when compared to the Forbes 400 List, released October 2020.
He was chairman of Dartmouth's board of trustees"Lone Pines' Stephen Mandel elected chairman of Dartmouth's board," Absolute Return, May 1, 2010 and is currently chair of the national board of directors at Teach for America. He founded two charitable foundations: the Zoom Foundation and the Lone Pine Foundation.Institutional Investor: "Hedge Fund Giving Wanes" by Danielle Beurteaux March 19, 2009 Mandel donated $2 million to the Lincoln Project, an anti-Donald Trump super PAC. Mandel donated $16,179,889 to the Democrats in the 2020 election cycle, making him the 22nd largest donor that year.
As of August 2026, Mandel spent $25.9 million in support of Democratic candidates in the 2026 United States elections.
Personal life In 1982, he married Susan Joy Zadek of Baltimore, whom he met at Harvard.Dartmouth Now newsletter: "‘Visible and Accessible’: Chair Steve Mandel ’78 on Priorities for the Board" By Sarah Memi November 29, 2010New York Times: "Susan Zadek To Be Bride" March 21, 1982New York Times: "Sea, Sand, Faith: Far From Home but Closer to Heaven" By NEELA BANERJEE August 20, 2009 They have three children. His wife is a trustee of the Environmental Defense Fund.New York Times: "Kate Mandel, Christopher Bruce" September 27, 2015
References
External links "Big bucks for hedge fund workers," Money, July 5, 2005 "The Power 30: The Investors," SmartMoney, October 10, 2006 "The Forbes 400 #289 Stephen Mandel, Jr.," Forbes, October 4, 2021