Early Life and Education
Steinhardt is the son of Sol Frank "Red" Steinhardt, a compulsive high-stakes gambler, New York's leading jewel fence, and convicted felon. his father was close friends with underworld crime bosses Meyer Lansky, Jimmy Aiello, and Joey Anastasia (he was out gambling with Anastasia the night before he was killed). Sol was later convicted on charges of buying and selling stolen jewelry and sentenced to five to ten years in prison.
Steinhardt went to the University of Pennsylvania. He started his career working for the mutual fund Calvin Bullock and the brokerage firm Loeb, Rhoades & Co. (the precursor to Merrill Lynch). Steinhardt's father was his first investment client giving his son envelopes stuffed with cash to put in the stock market giving him seed money to begin his investment career..
Read more about this topic: Michael Steinhardt
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