Background
Price was born on July 3, 1951 to a Jewish family in Glen Cove, New New York His father ran a chain of clothing stores.
Price was born on July 3, 1951 to a Jewish family in Glen Cove, New New York His father ran a chain of clothing stores.
University of Oklahoma.
In 1973, he earned a Bachelor of Arts from the University of Oklahoma. In 1974, he accepted a job with Max Heine at Mutual Series. In 1982, he became a full partner and when Heine died in 1988, became the president and chairman.
In 1995, with his mutual fund, he famously took a position in Chase Manhattan Bank of 11 million shares or 6.1% of their stock to force them "to sell divisions or take other actions" to find a buyer to elevate the value of their stock.
Chase ultimately sold to Chemical Banking Corporation on August 28, in a deal valued at more than $10 billion and 70% higher than his initial purchases. In 1996, Mutual Series was merged into Franklin Templeton Investments.
In 1998, Price stepped down from day-to-day fund management duties but continued as chairman of the company, and in 2001, he left the firm to begin his own fund company. The OU College of Business, one of its buildings, and a large endowment bear his name.
The CCTM, officially opening in June 2008 at the Albert Einstein College of Medicine in the Bronx, bears his name too.
He has donated tens of millions of dollars to his alma mater, the University of Oklahoma, and the fraternity he was a member of there, Beta Theta Pi.