On October 13 in the year 1947, one of the most successful investors in the stock market was born in New York, United States. His name is Gary Winnick, the founder of Global Crossing and the head of Winnick and Company.
Gary Winnick was the son of a Jewish couple who were engaged in the restaurant-supply business. At 16, he worked for the Howard Johnson Restaurant Group and later, transferred to a golf club as an assistant manager. He graduated from the C. W. Post Campus of Long Island University with an economics degree in 1969.
In 1972, Gary Winnick was hired as salesman at Drexel Burnham where he rose to become senior vice president. More than a decade later, he formed his own investment company called Pacific Capital which was renamed Winnick and Company in 2013.
In 1997, Gary set up Global Crossing, a company that built a network of undersea fiber-optic cables. The company became popular with other investors and his initial investment of $15 million ballooned to $4.5 billion in less than two years. However, the company’s fortune declined considerably and he sold his interest in the company for $734 million. Less than a year later, Global Crossing filed for bankruptcy.
Gary Winnick went on to found icrete, LLC, a green tech company that provides software for concrete manufacturers to help them produce better and cleaner products. Lately, he purchased a majority stake in a live streaming video provider called Qello.
Gary Winnick has three children with his wife Karen. The couple established a family foundation that donates fund to charities particularly in the field of education. Currently, Winnick and Company is managing an asset of close to $100 billion invested in a wide range of industries.