A year-and-a-half in the past, for causes finest identified to himself (or maybe not), Dan Och got down to destroy the hedge fund he\u2019d based and constructed into an business powerhouse for at the very least the third time. And in contrast to the primary time\u2014when he oversaw a scheme to bribe as many African politicians and potentates as potential\u2014and the second\u2014when he threw a temper-tantrum and tore his personal carefully-arranged succession plan out of spite\u2014this time he actually appeared to imply it. When the $34 billion hedge fund previously named for him quite airlessly dismissed his issues\u2014pretended or in any other case\u2014in regards to the company governance he\u2019d arrange or about how a lot his much-hated former waterskiing teacher and delayed successor was being paid or about maximizing the shareholder worth he\u2019d systematically destroyed, he determined to double down by dredging up pretty well-discredited rape allegations in opposition to the previous waterskiing instructor-turned CEO, regardless of having identified about these allegations whereas selling Jimmy Levin and finally naming him his inheritor.<\/p>\n
Well, despite indications that Och had maybe thought higher of obliterating the creation that also homes a considerable chunk of his fortune, it seems {that a} billionaire scorned is not going to be denied his vengeance, no matter the associated fee.<\/p>\n
Sculptor Capital Management, as soon as one of many world\u2019s largest hedge funds, has agreed to be bought for $639mn in a takeover that ends a bitter struggle between its billionaire founder Daniel Och and his former prot\u00e9g\u00e9 Jimmy Levin.<\/p>\n
For context, that\u2019s solely about $100 million much less that Sculptor has paid to make the entire disagreeable bribery scandal go away, or about 4 occasions the compensation bundle for Levin that Och threw a match over, or about six occasions the worth of the condominium Och doesn\u2019t use, or\u2014most notably, maybe\u2014lower than a tenth of what the previous Och-Ziff was value when it went public 16 years in the past.<\/p>\n