Please leave Andrew Formica alone as of October 1st, 2022. Thank you very much for helping him quit his job.
In an interview this week, Formica said that he wanted to sit at the beach and not do anything. I'm not thinking about that.
As far as CEOs and investors go, Formica is relatively young to be retiring early from an asset management operation that's valued at $68 billion.
Jupiter has had a few bad years. The firm's clients have been withdrawing money from the fund for the last four years in a row, and in the first three months of this year they had taken out over $1 billion.
His decision to leave has nothing to do with Jupiter. He was born and raised in Australia and decided to return to the land down under to spend time with his elderly parents.
There has been a lot of discussion about productivity culture. There are many self-help books that attempt to tackle stress at work, as well as an entire industry dedicated to helping us get our self care in. It makes a lot of money doing that.
Tech, investment, and finance have intense work cultures. Many startup founders are famous for their workaholism and biohacking techniques, while others are less well known.
A lot of people just keep on going. At the age of 91, Warren Buffet is still working hard at his investment business.
Compared to peers, Formica is taking a different approach. Is that true? It's good for him. We hope he enjoys the beach, the time he spends with his family, and the deep pockets that help him retire at 51.
The CEO of a $68 billion firm quit to sit at the beach and do nothing.
There are more notable figures that are missing.
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