JOSEPH EDELMAN
FOUNDER, CEO,
PORTFOLIO MANAGER
PERCEPTIVE ADVISORS
THE MONEY: In 1999, founded New York-based hedge fund firm with focus on life sciences and biotechnology. Reported to have some $10B under management.
RECORD BREAKER: Paid $70M for an oceanfront mansion in Laguna Beach community of Abalone Point in late 2021, which marked a new sales record for Orange County by a wide margin. Prior record high was $61M.
WEEKEND WEALTHY: Hedge fund exec—who earned a bachelor’s degree in psychology from University California, San Diego—was reported to be leasing a home in the area the time the off-market deal was struck. Also has owned a penthouse in New York City, which was listed for sale last year for nearly $30M.
THE HOME: 1 of 12 oceanfront homes in Irvine Cove’s Abalone Point, where fellow billionaire Sue Gross has multiple properties. Main residence runs 18K square feet and has a pool cabana and an all-glass guesthouse.
