Dr Burry's Current Net Worth and Earnings
Michael Burry, a physician turned investor, built his wealth primarily through his hedge fund Scion Capital LLC, which he managed from 2000 until 2008. His most famous return came from betting against subprime mortgage-backed securities before the 2008 financial crisis, a trade that generated estimated gains of over 489% for his fund in 2007 alone. As of the latest available public disclosures, his net worth is estimated to be in the range of several hundred million dollars, reflecting the compounded returns from his investment career and subsequent ventures. His Scion Capital returns are frequently cited as among the most impressive in hedge fund history, drawing comparisons to legendary investors like Warren Buffett and George Soros.
Burry's wealth is not solely derived from his early fund performance. His personal stock portfolio, disclosed through regulatory filings, has included significant stakes in companies like Tesla, which he began purchasing in 2019. The appreciation of these holdings, combined with his historical fund gains, forms the core of his current net worth. Public records and financial news outlets have tracked his positions closely, noting that his investment approach remains contrarian and deeply fundamental, focusing on identifying mispriced assets in the market. His ability to generate outsized returns over decades is a key factor in his financial standing today.
Key Investment Returns and Major Positions
Scion Capital Performance and the 2008 Crisis
The Scion Capital fund, managed by Burry, delivered average annual returns of over 50% from its inception in 2000 through its closure in 2008. The fund's largest and most famous position was a credit default swap bet against subprime mortgages, which required Burry to put up significant capital and face immense pressure from Wall Street banks and his own investors. The trade was a massive success, and the fund's value peaked during the crisis, but Burry closed Scion Capital in 2008, partly because the fund's size limited the ability to maintain such concentrated, high-conviction bets. The returns from this period are often used as a benchmark for value investing and contrarian thinking in financial circles.
After closing Scion Capital, Burry shifted his focus to managing his personal investment portfolio through his family office. His public filings show a concentrated portfolio, often holding a small number of large positions in equities he believes are undervalued. One of his most prominent recent positions has been in Tesla, where he has been a vocal advocate for the company's long-term potential and autonomous driving technology. His investment thesis for Tesla, detailed in his letters and public statements, highlights the company's competitive advantage in electric vehicles and energy storage, a view that has been vindicated by the company's market capitalization growth over the past several years.
Sources of Income and Investment Strategy
Hedge Fund Management and Personal Investing
Dr Burry's primary source of income was management fees and performance fees from Scion Capital, which operated on a standard 2-and-20 hedge fund fee structure. After closing the fund, he has not raised outside capital, instead investing his own capital alongside a small group of family and friends through his family office. This structure allows him to maintain complete investment discretion and avoid the constraints of external investor redemptions or quarterly performance pressure. His current earnings come from the appreciation of his personal portfolio and any management fees from his family office activities, which remain private.
Burry's investment strategy is rooted in deep value investing, a methodology he studied extensively as a medical doctor before applying it to the stock market. He focuses on identifying companies with a significant margin of safety, often looking at book value, cash flow, and asset liquidation value. His recent public portfolio includes stakes in companies like Alphabet and various healthcare and technology firms.