On September 18th, Tampa Tiger Bay Club welcomed Jeffrey Vinik to the Den. Mitch Perry’s article discussing the program. Jeff Vinik gets lots of transportation, economic development questions at Tiger Bay (September 18, 2015)
Mr. Vinik is the current owner of the Tampa Bay Lightning and the Tampa Bay Storm, as well as a minority owner of the Boston Red Sox. He is also on the board of directors for the Liverpool Football Club in the Premier League.
Vinik was born in Deal, New Jersey. He graduated Phi Beta Kappa from Duke University in 1981 with a bachelor of science in civil engineering. He subsequently obtained an MBA from Harvard Business School in 1985.
In business, Vinik managed the Fidelity Magellan Fund from 1992 to 1996, where he averaged 17% annual returns. After leaving Fidelity, he started hedge fund Vinik Asset Management, with partners including Michael Gordon (now President of Fenway Sports Group). He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio. Vinik and his partners closed down the fund in December 2013, and distributed $9Bn in assets.
In 2010, he purchased the Lightning for $170 million.
Philanthropy has also played a big role in Vinik’s life. In 1998, Vinik and his wife, Penny, donated $1.25 million to endow a professorship at Duke’s engineering school. The next year, they donated $5 million towards facilities at the engineering school. In 2012, they donated $10 million to create a challenge fund to endow associate and full professorships dedicated to addressing complex societal challenges. He donated $1.5 million to build a new Jewish Community Center in South Tampa.
From Wikipedia on August 24, 2015: https://en.wikipedia.org/wiki/Jeffrey_Vinik