American investor, financier, philanthropist and hedge fund manager Michael Steinhardt has an estimated net worth of $1.21 billion in May 2016 according to Forbes. He is known to be the founder of the hedge fund company, Steinhardt, Fine, Berkowitz & Co. He acquired most of his net worth from his diverse business investments as well as from serving as the Chairman of IDT Corporation and Wisdom Tree.

Michael H. Steinhardt was born on December 7, 1940 in Brooklyn, New York, U.S. He is an alumnus of the University of Pennsylvania's Wharton School. After completing his degree from the university, he started working for Calvin Bullock mutual fund, then later for the brokerage firm Loeb, Rhoades & Co. He is also affiliated with companies like Gulf+Western, Automatic Sprinkler and City Investing. After coming out of retirement in 2004, Michael Steinhardt went on to develop Index Development Partners, Inc., now popular as WisdomTree Investments. He currently serves as the Chairman of the company. In 2010, he started working for Israel Energy Initiatives Ltd (IEI) as the Chairman of the Board. Michael Steinhardt is currently married to his wife Judy. The couple has three children named Sara, Daniel and David.