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Fiyyaz Pirani Net Worth
Amongst the most prominent and successful investors in the world today, there are some that are worth billions of dollars. One of these billionaires is Fiyyaz Pirani, who is an Iranian entrepreneur, investor and art collector. His net worth is estimated at $3 billion. He is also the owner of an art museum and a collector of paintings and sculptures. In addition to his investment activities, he has a number of other ventures that include a lawsuit against Slack.
Among the tech world’s movers and shakers is Fiyyaz Pirani, an investment billionaire, who has taken the helm at Medology, a medical technology company. The entrepreneur is also the trustee of Imperium Irrevocable Trust, a company that owns a stake in Netflix. He also owns real estate properties in Houston and Dallas.
For an investor like Fiyyaz, it’s all about diversification. He’s made a lot of money through options trading, but he’s also invested in private equity. The entrepreneur is aiming to make the medical testing world a better place.
The best part of all is that he’s had the good fortune to attract outside money. His hedge fund currently ranks as one of the top performing in its field, outperforming the market index returns. He’s also earned a Top Workplace award. He’s also taken a page from the playbook of fellow scions of the tech throne.
The company’s proprietary systems triangulate intrinsic value versus market value. The sleuths use KPIs and SEC filings to come up with the best trades. They also consult with management to find the company’s best opportunities.
Among the best known art collectors in the world are Fiyyaz Pirani and his wife Payal. Among other achievements, the duo won the 2014 Forbes Art Award India’s Young Collector of the Year. Their taste is undeniably diverse. Their collection includes a hyper-realistic sculpture of a security guard and an abstract collection of Donald Martiny paintings.
Fiyyaz and Payal have also invested in private equity and real estate properties. The penthouse in Houston is a sleek Art Deco abode filled with creamy shades, Art Deco furniture and a few touches of yellow. Their home also serves as a comfortable hangout spot for business meetings and casual meals. The Lapiaz Sideboard, Lumiere Chandelier and Empire Dining Table are all on display.
In the art world, there are five principal players. They include the art collector, the dealer, the artist, the curator and the critic. In fact, there are even a few other players, like a philatelist and a real collector.
Lawsuit against Slack
During the public listing of Slack’s shares in June, Fiyyaz Pirani filed a class action suit against Slack. Pirani claims that Slack’s registration statement contains false or misleading statements. The lawsuit alleges that Slack misrepresented material facts about its service outages, its scalable architecture, and its growth strategy.
Slack filed a motion to dismiss Pirani’s claims, arguing that he lacks standing to pursue his claims under Sections 11 and 12(a)(2) of the Securities Act. Slack also argued that he cannot prove he purchased shares covered by Slack’s registration statement. The district court denied Slack’s motion.
In response to the ruling, Slack filed a motion for rehearing. Slack argued that the panel’s decision was inconsistent with the Ninth Circuit’s precedent. Slack also argued that the panel’s decision created uncertainty. Slack argued that a legislature could codify a waiting period before unregistered shares could be released for trading.
Slack filed an interlocutory appeal, which was allowed by the Ninth Circuit. Slack also filed a petition for en banc review.
Despite his success in the options market, Fiyyaz Pirani is pursuing other ventures. The 38-year-old is the CEO of Medology, and hopes to change the world of medical testing by creating a new system that focuses on patient safety and convenience. He also wants to start his own hedge fund, and is hoping to do so within the next few years. Currently, his hedge fund is organized as a family office, and he is looking to expand it in the future.
While he has built a solid portfolio over the years, Fiyyaz believes that outside money will bring new regulations. This means he will need to continue to improve his investment strategies. He currently has proprietary systems that triangulate intrinsic value with market value, but he plans to create more. He also plans to build a portfolio of real estate properties in Dallas and Houston. This is the first step in his plan to start his own hedge fund.