Sundheim’s D1 Shakes Off Its $4 Billion Reddit-Fueled Fiasco
- The $20 billion fund has recouped losses since Reddit attack
- D1 has bought stakes in 22 closely held companies this year
Daniel Sundheim
Photographer: Alex Flynn/BloombergThis article is for subscribers only.
It was the kind of moment that would normally sink a hedge fund: Dan Sundheim was on Zoom, apologizing to clients for losing $4 billion in a single month. He ticked off strategy changes, noted he wasn’t going to dock his team’s pay and then headed back to work.
Now, mere weeks later, the episode is behind him.