Greenlight Capital CEO, David Einhorn has won $4.3 million after taking third place at the World Series of Poker tournament in Las Vegas. He donated the money on behalf of City Year, a non-profit organization dedicated in promoting education by helping the poorest schools in the United States to address the crisis on high school dropouts.
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During an interview with CNBC, Einhorn said that his $4.3 million winnings from the World Series of Poker was his first “biggest poker prize tournament ever.” During the latter part of the tournament, Einhorn said that he misplayed a hand and the other player outplayed him. He said, “The very end I lost on a hand, the other guy had a little better hand than I did but there was a hand where I misplayed. I should have checked and called what he was doing and he outplayed me.” The hedge fund manager also said that he plays poker about ten times a year that includes playing with his kids and during charity events.
Einhorn said that he is interested in education and he believes that the public education problem can be solved and the public school system needs to be fixed. According to him, City Year is an interesting organization because it is not offensive to public school teachers and unions.
The hedge fund manager also talked about economy in his interview to CNBC. He thinks that the country is heading towards QE5. According to him, quantitative easing is” counter-productive” and the “low zero rates is depressing people, depriving savers of reasonable incomes and it cuts down consumption.”
Einhorn also said that Apple Inc. (Nasdaq:AAPL) He thinks that the company continues to grow over the next three years.
On the other hand, Michael Brown, co-founder and COO of City Year, personally thanked David Einhorn for helping the charity achieve its mission. Brown said that they were working with young people to continue their education and prevent them from dropping out the school. Brown said that the organization plans to use Einhorn’s donation to help more schools and students.