Alex Ojjeh is an American investor and philanthropist with a record of starting companies and organizations. He is the founder and former CEO of AO Asset, a global hedge fund firm with $1B in assets. As a young leader he teamed up with investment veteran, Nick Ramos.
The 33-year-old faced an awkward position when he was voted out by the board members. Alex announced his departure August 3rd in an e-mail sent to staff, which he stated 2020 will be his last year at the firm and he would be focusing on new ambitions.
Many are linking his pending trial to his decision under the impression the company is distancing themselves from him, but Alex stated that there was nothing more for him to do there. Instead he distanced himself from them. “Asset management is all about the team and the people on the team willing to do whatever it takes to help the team.”
He said, “You need to realize that what was built here is very difficult to replicate and this is an issue that can be solved before destroyed.”
The hedge fund company may face scrutiny, and prosecutors may seek to obtain access to email records, financial history, and so on from their customers Alex could have been voted out to avoid this major intrusion into privacy.
Most specifically, the corporation sells the stock to clients turning their individual firms’ investment into billions worth of shares. The portfolio Alex owns $60 million shares of.
Ojjeh and the board of directors have shifted equity to a core business where Alex runs the company. While he still owns it, Ojjeh gave up influence, removing any doubt that anyone at the firm used the business at a personal ATM.
Also Ojjeh sold off some abilities that he did not find to be essential any longer, such as time, now he has more energy to focus on startups, liquid credit, fashion lines and real estate. But with everything going on, Ojjeh is relaxed. “You build a house brick by brick, you begin to appreciate the bricks, you slowly want to build more houses just because you know how many bricks are out there,” he says.