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QIM Founder Gives Away His Winnings

June 19th, 2012 by Site Admin

Quantitative Investment Management president and co-founder Michael Geismar recently pocketed over $700k at the Café Bellagio casino’s blackjack table in Vegas. Geismar was there to attend a conference and used the downtime to go and try out his luck at the Blackjack tables.

Geismar started off with just a $10k credit line and in just under 48 hours, went on to win over $700k and surprise everybody. However, Geismar recently announced that he plans to donate most of the money away to charity. Geismar runs a successfully company and will look to use his prize money to improve his hometown as he strives to educate the less fortunate.

Geismar confirmed that he plans to donate around $500k to his charities, who will then provide healthy meals to the less fortunate people located in Charlottesville, VA, where his company Quantitative Investment Management is located.

Geismar told reporters that he is aware of the poverty levels and how many children forfeit their lunches because they do not have sufficient money. He said “There’s a lot more poverty than you would think” in Charlottesville, VA.

Geismar and his wife plan to open a PB & J café to teach poor children how to prepare food. Once the food gets cooked, the children will be allowed to take the food home to their families. Geismar said if he required more funds for his charities, he might return to Vegas to try his hand at the blackjack tables again.

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