Leon Cooperman net worth after billionaire investor acquires Man Utd stake

14 November 2023 , 18:09

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Leon Cooperman has invested in Man Utd

Leon Cooperman is an American billionaire whose net worth is listed at $2.8billion (£2.24bn) by Forbes.

The hedge fund manager has opted to buy a minority stake in Manchester United, who are welcoming the cash injection ahead of Sir Jim Ratcliffe's imminent arrival at Old Trafford. The 80-year-old has purchased one million shares in the Premier League club, which are valued at around $16.8m (£13.4m).

Cooperman is the son of Polish immigrants and was born in the New York borough, the Bronx. He became the first member of his family to gain a college degree and spent over two decades at Goldman Sachs, enjoying several senior roles including chairman of the Stock Selection Committee.

He left the company in the 1990s, by which point he was a legendary figure on Wall Street. He then organised a private investment partnership, Omega Advisors Inc, which he ran until 2016, converting it to a privately held company that handles investment management and wealth management.

Cooperman has been vocal about his views on finance and politics. He recently claimed that he doesn’t consider someone earning $400,000 (£320,000) a year to be rich. He has also primarily donated to Republican political campaigns but has publicly slammed Donald Trump.

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He said on CNN: “It would be terrible for the country if Donald Trump were reelected. He’s a divisive human being who belongs in jail.”

Sir Jim Ratcliffe is set to complete a minority takeover at Old Trafford (PA Wire)

Cooperman's investment is incredibly minor and is unlikely to bring him much power in the boardroom. There had been talk when the Glazers put United on the market that investment from the United States could be an option, potentially from a private equity firm.

Now though British billionaire Ratcliffe is set to take a 25 percent stake in the club and have a major say on the club's football operations. They are in need of a cash injection to develop their infrastructure, which has seen them fall behind their rivals.

The Glazers have copped criticism for taking dividends out of the club at a time when they are struggling to compete on the pitch. Manager Erik ten Hag worked within budget constraints during the summer, although Ratcliffe's arrival is set to strengthen their hand in the market.

Samuel Meade