Wall St millionaire immigrant suicide shock: jumped from tower on 5th Avenue in New York

NYPD on 5th Avenue, 2020

Photo: Andrés Correa Guatarasma / Courtesy

Charles de Vaulx, an immigrant billionaire investor in the stock market, was found dead after apparently throwing himself Monday from the 10th floor of his office in the 717 5th Avenue building in New York.

De Vaulx, of Moroccan French origin, left a widow and two children. He was co-manager of the portfolio and partner of International Value Advisers (IVA), a company that in March 2021 announced that it would liquidate its funds and close the business because its assets under management had collapsed from $ 20 billion to less than $ 1 billion, as a result of customer refunds.

On Monday, shortly before 1 p.m., De Vaulx entered the elegant Midtown tower home to the offices of IVA, his investment firm founded 14 years ago, according to police. Minutes later, the executive collapsed from the 10th floor, a construction employee reported. He was pronounced dead at 1:05 pm

Police are investigating the death of the 59-year-old financier, but criminality is not suspected and personally he had not been charged with any financial crime.

Reacting to De Vaulx’s passing, people close to the firm say it was the tragic end of a brilliant investor whose life had become intrinsically tied to the fate of his business.

“This is a Shakespearean tragedy on many levels… Ironically, many of the shares he owned have appreciated significantly in recent months, “a source close to De Vaulx told the New York Post, on condition of anonymity. “Charles he was a complex man with a lot of arrogance that he felt he had failed in his mission to invest in value and lost its reason for being, “he added.

Last month, the IVA firm was liquidated after a turbulent year that included the abrupt departure of De Vaulx’s business partner, Chuck de Lardemelle, another respected fund manager.

The end of IVA had been no less dramatic than its beginning. The investment firm was founded in 2007 after a group of partners abruptly left First Eagle, a flagship money management company. from the 1980s and 1990s it was founded by legendary French investor Jean-Marie Eveillard.

Reportedly De Vaulx’s departure from First Eagle came amid a dispute with the investors who had acquired it, forcing veteran Eveillard out of retirement to run it again.

IVA quickly became one of the fastest growing funds in America, but over time, it became clear that De Vaulx and De Lardemelle fundamentally disagreed on how the company should be run, discussing day-to-day details on how to organize the workflow, according to sources close to the firm.

“It was never about the money,” said another source close to de Vaulx. “VAT was an embodiment of personality from De Vaulx and when he started to relax, he took it personally. ”

A statement on the IVA portal reads: “It is with great regret that we announce the passing of our President and CIO, Charles de Vaulx. The entire IVA community conveys its condolences to his family at this difficult time ”. The firm did not respond to requests for additional comment.

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