|Estimated value:||€4 million|
|Country of origin:||Germany|
|Source of Wealth:||entrepreneur|
Florian Homm is probably the best-known hedge fund manager and stock market speculator in Germany. For a long time, Homm managed the hedge fund Absolute Capital Management (ACM), which at times had a volume of up to three billion US dollars. This hedge fund completely collapsed in 2007, and investors lost $200 million. This was followed by Florian Homm going into hiding and a spectacular escape from US authorities such as the FBI and DEA. To this day, there are a number of unexplained transactions by the manager. Florian Homm now lives in Germany and, despite arrest warrants from the FBI and Switzerland, will not be extradited.
The later successful hedge fund manager Florian Homm was born on October 7, 1959 in Oberursel. He grew up in Bad Homburg in Hesse, the son of a medium-sized craft entrepreneur named Joachim Homm. His great-uncle is the well-known entrepreneur Josef Neckermann. Homm successfully completed his studies at Harvard Business School with a Master of Business Administration degree. He then began a career as an investment banker in the US financial sector.
With a promising degree from Harvard Business School, Florian Homm began his first job as an investment banker at the investment bank Merrill Lynch. He then moved to the well-known US fund provider called Fidelity Investments. In the years that followed, Homm also worked for the Swiss private bank Julius Baer and the US wealth manager Tweedy Browne.
In 1993, the committed hedge fund manager laid the foundation for his success story by starting his own business with the American Kevin Devine. The established investment company Value Management & Research AG (VMR) focused on smaller companies. The concept involved bringing unsuccessful companies such as Comtelco to internet stock exchanges such as Frankfurt’s Neuer Markt. Following the founding of the company, a stock market boom followed, which ultimately made the manager rich. At the beginning of the new millennium, Homm left VMR, which at that time had a market value of 500 million euros, and founded the hedge fund company Absolute Capital Management Holding Ltd. with others. (ACM).
In Florian Homm’s most successful times, he managed the company he had founded himself with around three billion euros in customer assets. This made him one of the 300 richest Germans. In this context, he received the title of Hedge Fund Leader of The Year from the well-known investment magazine Alternative Investment News. With a commitment of 20 million euros, he ensured the rescue of the Borussia Dortmund football club during these times. He has been giving regular lectures on management since 2014 and continues to market his autobiography, Kopf Geld Jagd, with great success.
Florian Homm runs a successful YouTube channel and was also the title character of a documentary film by Amazon Studios. Since 2017 he has continued to design an opinion section at the broadcaster RT Deutsch, which is entitled Florian Homm speaks plain text.
- “When someone makes a lot of money for me, it touches the core of my soul.”
- “My scruples were totally underdeveloped. And scruples also damage profit maximization. I’ve certainly hurt a lot of people trying to make a Net Worth quickly. My kids didn’t have a father – they had a trust fund. It’s not the best substitute either.”
- “I think my story is really a hard-core wake-up call.”
- “I was just a vending machine, a primitive money machine, for the last few years of my financial career.”
- “The more money you have, the more you close yourself off. In the past few years I have also gotten to know other sides. I’ve stayed in hotels for $13 a night, I’ve been in the armpits of the world. That fulfilled me more than the 2000 euro suite at the Ritz. I used to be stuck in an endless sandbox game with the other idiots who compared planes and boats. Even the toilet brush had to have a brand name and cost 300 euros. That was embarrassing.”
Florian Homm achieved particular fame through his spectacular escape in 2007. The company ACM, which he co-founded, came under increasing pressure, as investments in illiquid funds were noticeably frequent. Speculations granted Florian Homm an escape sum of up to 150 million euros.
In this context, the US Securities and Exchange Commission and the DEA filed charges against the entrepreneur in 2011. Private investigators even put a bounty of 1.5 million euros on Homm’s capture. There was extensive speculation and false reports about his whereabouts at the time.
In 2013, Homm was finally arrested by the Italian police and was in extradition custody in Pisa. In June 2014, however, he was released from custody because the maximum period of detention pending extradition had expired. In the US, he faces a maximum sentence of up to 225 years in prison.
In 2000, at the peak of his career, he was diagnosed with multiple sclerosis at the age of 40. His sister died of the same disease in 2005.
|Estimated value:||€4 million|