JOSEPH EDELMAN
FOUNDER, CEO,
PORTFOLIO MANAGER
PERCEPTIVE ADVISORS
THE MONEY: New York-based hedge fund firm, founded in 1999, with focus on life sciences and biotechnology. Reported to have some $10 billion under management.
RECORD BREAKER: Paid $70 million for an oceanfront mansion in Laguna Beach community of Abalone Point in late 2021, which marked a new sales record for OC by a wide margin. Prior record high was $61 million.
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 $30 million.
THE HOME: 1 of 12 oceanfront homes in Irvine Cove’s Abalone Point, where fellow billionaire Sue Gross has multiple properties. Main residence runs 18,000 square feet, and has a pool cabana and an all-glass guesthouse.
