American businessman and hedge fund manager Israel Englander has an estimated net worth of $5 billion as of April 2016, according to Forbes. Englander is known to be the founder of Millennium Management LLC.

Of Jewish ancestry, Israel Englander was born in 1948 in New York City, New York, U.S.A. At a very young age, he had already developed a profound interest for the stock exchange. He started trading stocks while he was still in high school and in college, he worked for the New York Stock Exchange and Oppenheimer & Co. as an intern. He finished his degree in finance from New York University in 1970. He also tried getting an MBA from the same university, however, he wasn't able to complete it. After graduation, he began working full-time for Kaufmann, Alsberg & Co.

In 1977, the floor brokerage house I.A. Englander & Co was formed. Together with John Mulheren Jr., he formed the investment firm Jamie Securities Co.  in 1985. Four years later, he formed Millennium Management LLC together with Ronald Shear. Through the years, the firm has developed into a multi-billion dollar company that makes use of low-risk management strategies.