David Einhorn Takes Break From Losing Money To Lose More Money - Dealbreaker

David Einhorn Takes Break From Losing Money To Lose More Money

Bright sides: It was the most fun he’s had losing $1 million recently, and it was for charity.

When you’ve “been running face first into the wind” for as long as David Einhorn—and he’s been so running for a few years—every now and then, you need to take a break, lest you be utterly deranged by the experience. Little walks down memory lane are nice, but as reminders of better times passed, they are also brutal portals to the horrible present. No: To properly recharge, you really must get out from the blistering gales and numbing cold. This, friends, is why Las Vegas exists. A place where the cards fall as they may and math reigns supreme and, unlike anything involving Elon Musk, things still make sense.


Unfortunately, even the Greenlight Capital chief’s happy place has turned against him.

Einhorn and 26 other businessmen and poker players each ponied up $1 million to enter the World Series of Poker's “Big One for One Drop" tournament…. While other players were doing all they could to avoid getting eliminated, Einhorn didn’t seem to mind playing aggressively.

For his sixth-place finish Einhorn receives no prize money. Fifth place would have paid out $2 million.

On the bright side, at least Einhorn understands how he lost that $1 million.

Hedge fund billionaire Einhorn places sixth in major poker tournament [CNBC]