Israel Englander

Israel Englander
Image	; Israel Englander
Born	30 September 1948 New York, United States
Nationality	United States
Occupation	Hedge fund manager
Known for	Founder of Millennium Management
Spouse(s)	Caryl Englander
Education	New York University (BS)

American hedge fund manager; founder, chairman and chief executive of Millennium Management

Israel "Izzy" Englander (born 30 September 1948) is an American hedge fund manager. He is the founder, chairman and chief executive of Millennium Management, which he started in 1989 with US$35 million.^[1]^[2] In 2005 he paid a US$30 million civil penalty, without admitting or denying the findings, to settle Securities and Exchange Commission charges over market timing of mutual funds at Millennium between 1999 and 2003.^[3]^[4] On 20 October 2026 the Forbes Real-Time Billionaires list ranked Israel Englander 86th in the world, with an estimated net worth of US$27.56 billion; Forbes lists the source of wealth as Hedge funds.^[2]^[5] In the annual World's Billionaires list published in 2026, Forbes had ranked Israel Englander 98th, at US$25.8 billion.^[6]

Early life and education

Forbes gives his date of birth as 30 September 1948 and his birthplace as New York.^[2] Millennium's biography says he earned a BS in finance at New York University and attended the university's Graduate School of Business Administration.^[1]

Career

Before founding Millennium, Englander was a floor broker, trader and specialist on the American Stock Exchange and owned a specialist firm. He chaired the exchange's Specialist Association and sat on several of its committees.^[1] He founded Millennium in 1989 with US$35 million.^[1] Forbes describes the firm as a multi-manager platform that gives more capital to traders who perform well and drops those who perform poorly. Forbes puts its assets under management at more than US$92 billion.^[2] Forbes also reports that Englander once backed Jeff Yass, who later became a billionaire.^[2]

In November 2025, according to Business Insider, Millennium sold a 15% stake in the management company to outside investors at a valuation of US$14 billion. The buyers included long-standing investors in its funds. Business Insider quoted a 2024 letter to investors in which Englander said the firm was too large for any one person to manage. It also reported that a four-person office of the chief investment officer had replaced an earlier potential successor and that the firm's investors had no key-man clause.^[7] Business Insider's US$81 billion figure for the firm's assets differs from the more recent Forbes figure.^[7]^[2]

Market timing settlement (2005)

On 1 December 2005 the SEC announced a settled administrative proceeding against Millennium Partners, its management companies, Englander and three others. The SEC's order found that, from at least 1999 to 2003, the respondents had used deceptive means to market time mutual funds, including creating about 100 new legal entities to conceal Millennium's identity from fund companies. The respondents consented to the order without admitting or denying the findings.^[3] Millennium Partners disgorged US$121.4 million and the management companies a further US$26.6 million. Englander paid a US$30 million civil penalty. In total the respondents paid more than US$180 million, which went into a Fair Fund for affected investors.^[3] The New York Attorney General's office negotiated the settlement jointly with the SEC. It said Millennium had earned more than US$100 million from market timing between 1999 and 2003.^[4]

Wealth

Forbes gives hedge funds as the source of his wealth.^[2]^[5]

Wealth history

Forbes has included this entry in its annual World's Billionaires list in 20 of the editions from 2001 to 2026 checked for this profile, starting with 2007. The table gives the rank and estimated net worth in each annual list, and, where applicable, the rank and estimate in the Forbes 400 list of the richest Americans.^[6]^[2]

Forbes estimates by list year
Year	World's Billionaires rank	Net worth (US$ bn)	Forbes 400 rank	Forbes 400 net worth (US$ bn)
2006	–	–	322	1.2
2007	799	1.2	317	1.5
2008	785	1.5	262	1.8
2009	468	1.5	204	1.7
2010	582	1.7	217	1.9
2011	651	1.9	200	2.1
2012	546	2.3	151	2.7
2013	458	3.0	166	3.0
2014	483	3.3	161	3.4
2015	452	3.8	108	4.8
2016	270	5.0	105	5.0
2017	303	5.2	108	5.2
2018	372	5.2	98	6.0
2019	252	6.4	91	6.6
2020	224	6.6	74	7.2
2021	241	9.6	71	10.5
2022	167	11.5	54	11.3
2023	153	11.3	58	11.8
2024	161	12.4	57	14.2
2025	164	14.2	54	18.9
2026	98	25.8	41	27.6

Philanthropy

In 2015 a gift from Englander, then an overseer of Weill Cornell Medicine, and his wife Caryl named the Caryl and Israel Englander Institute for Precision Medicine. The institute was founded in 2013 and uses genomic sequencing to guide treatment. The gift paid for six new investigators, pilot grants, equipment and an endowment.^[8] In December 2023 Weill Cornell announced a further gift from Englander, by then a member of its Board of Fellows. It made him the largest single donor to the institution's US$1.5 billion campaign and was the first major gift towards a planned medical research centre. Weill Cornell named its departments of dermatology and ophthalmology after him. The amount was not disclosed.^[9]

Political activity

No itemised federal contributions under the name "Englander, Israel" were found in the FEC records for the 2022, 2024 and 2026 cycles.^[10] No lobbying registrations or political offices were found.

International and political links

This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."