Billionaire David Einhorn Puts $111K On the Line for Charity at WSOP

Every year, Einhorn picks one charity to donate all his poker winnings to.

This year, the billionaire hedge fund manager and president of Greenlight Capital picked Facing History and Ourselves.

“Facing History helps teachers teach classes to kids about really really tough subjects like anti-semitism, racism, hatred and so forth,” Einhorn said.

“It helps the students understand the historical basis, the kinds of choices that people make and that they matter.

“Then they relate it back into their everyday experience which improves school dynamics, reduces bullying and stuff like that.”

Facing History started out as a single class spread across two classrooms in 1976 and has since grown into a worldwide organization that reaches thousands of students every year.

Einhorn and Charities Win Big

While Einhorn said it was unlikely that he’d win the $111,111 One Drop High Roller, Facing History can still get a sizable sum from Einhorn.

Einhorn at the 2012 One Drop final table.

Back in 2006, Einhorn finished 18th in the 2006 WSOP Main Event and donated all $659,000 in winnings to the Michael J. Fox Foundation.

Then, in 2012, Einhorn made the final table of the inaugural $1 million Big One for One Drop and finished 3rd.

Einhorn won $4.35 million for that finish and it all went to City Year, a charity that gives students in low-performing schools mentors and tutors.

Einhorn didn’t last as long in the next Big One. Last year, Einhorn was the first player eliminated from the One Drop after he lasted just one hour. 

In his final hand, Einhorn hit top set on the flop but Sam Trickett hit a straight on the turn to knock out the billionaire hedge fund manager.

While Einhorn wasn’t able to win millions for the Robin Hood Foundation, he did cash for $44,728 in the Main Event later that summer.

Einhorn is planning on playing the Main Event again this year, but right now he’s focused on the One Drop.

Investing in Poker

Einhorn made the dinner break with about starting stack and he says this left him “in a good position to try and get a little smarter.”

"My Goal is to feel like I played well."

A win here would mean a lot Einhorn.

“[Winning] would be really exciting,” said Einhorn. “The highlight of my summer vacation for sure.”

But Einhorn's goals are a bit more modest.

“My goal is to feel like I played well at the end of the tournament,” Einhorn said.

While Einhorn has had some success in poker, it doesn’t compare to the monumental success he’s had in business.

Einhorn founded Greenlight Capital in 1996 with $900,000 and now he’s worth approximately $1.93 billion.

Einhorn says these business skills have helped him out in the tables.

“My instinct is that the skills translate better for experienced investors to play poker than for poker players in investing,” Einhorn said.