Early Life
Leon G. Cooperman was born in the South Bronx, New York City, on April 25, 1943, to Jewish parents who emigrated from Poland. He was the first in his family to earn a college degree, attending Hunter College. Cooperman graduated with a Bachelor of Arts degree. He later earned an MBA from Columbia Business School in 1967.
Rise to Success
Cooperman's career took off after graduating from Columbia Business School. He joined Goldman Sachs, where he spent 25 years in the investment research department. He was voted the number one portfolio strategist in the Institutional Investor "All-America Research Team" survey for nine consecutive years. In 1989, he became the chairman and CEO of Goldman Sachs Asset Management. Cooperman retired from Goldman Sachs in 1991 and launched Omega Advisors, Inc.
Key Business Strategies
At Omega Advisors, Cooperman employed a value-oriented investment strategy, focusing on value equities and utilizing a top-down approach to sector selection. He integrated fundamental analysis for long and short positions, employing a bottom-up approach to construct portfolios. Cooperman's firm managed over $3.3 billion in assets, primarily consisting of his personal wealth. In 2018, Cooperman converted Omega Advisors to a family office.
Philanthropy
Cooperman and his wife, Toby, are committed to philanthropy. They signed The Giving Pledge and have contributed significantly to various causes. They have donated $100 million to Saint Barnabas Medical Center, which was renamed Cooperman Barnabas Medical Center. Additionally, they launched the Cooperman College Scholars Fund and have supported Birthright Israel and Columbia Business School.