A Wall Street hedge fund boss quit his job and now sells healthy food – here’s his advice for anyone looking to escape the financial world

Jason Karp owes a lot to his work in the financial sector. He made millions, won awards, and founded a company that employs dozens of people.

But in 2018, after a few rough years at his hedge fund Tourbillon, he stepped out of the only industry he’d ever worked in to go into a direction he considers his true passion: healthy eating.

When he retired from hedge fund Tourbillon as a professional asset manager, he wrote a sort of manifesto in the form of a suicide note to investors, explaining his newfound passion for healthy eating: “I believe we are at a turning point of food and production, now people recognize that the US approach to diet and disease has failed miserably,” he wrote in the letter, which was widely read.

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Karp’s new company, HumanCo, is focused on an overarching mission to “live optimally as people,” he previously told Insider. He developed a passion for it after being diagnosed with an immune disease early in his career. This was also discussed in the letter to investors.

This difficult experience has prompted me to pay attention to nutrition and how it affects people’s health and well-being. I was forced to pay close attention to all aspects of food and the food industry: what was in the food, whether it came from a farm or a highly for-profit enterprise, what resources were used to ensure it was sustainable. whether it tasted or looked good. As a result, I found out that there is a great lack of knowledge. Amazingly, I found that in no human activity there is a greater gap between knowledge and frequency of use than in food and nutrition.

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The career switch to healthy eating has worked out well for Karp so far. His conglomerate has just launched new products and partnered with actress Scarlett Johansson to promote new products.

During an interview with Insider, Karp recently said his success has led to calls from top investors in his old industry, “titans who have had a lot more success than me”. They want to know what it was like to turn their backs on the financial sector.

“They ask me confidentially, ‘How does it feel? I’m thinking about it a bit too,” he said.

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Well-known hedge fund bosses from the financial world

“There are a lot of well-known hedge fund bosses who will never admit it because they have too big a company.“A common thread I’ve noticed with some of those high-performing executives is that they’re looking for a way to find more meaning in what they’re doing.”

Traditionally, these ultra-rich—almost always men—seek meaning in politics, through massive donations. Robert Mercer, a longtime top executive at hedge fund Renaissance Technologies, for many years supported the right-wing news organization Breitbart and other Republican causes. Renaissance founder Jim Simons and hedge fund billionaire George Soros have been major donors to the Democratic Party in the US for years. David Stemerman closed his hedge fund, Conatus Capital, to run for governor of the state of Connecticut. He lost in the 2018 Republican primary.

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Others, such as ValueAct Capital co-founder Jeffrey Ubben, have stayed in the financial sector but have shifted their focus. Ubben aims to raise $8 billion for Inclusive Capital Partners, a fund he founded last summer that focuses on eco-friendly and social investing, Reuters reports.

It can be risky to look at other options. According to Karp, there is “real fear” among many top financial executives that talking about a career switch will undermine their current careers. Still, he hopes his own move into the food industry sets a clear example for others.

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“I want others with great achievements to recognize that it’s okay to be depressed, despite your great wealth,” he said. “It’s fine if you get to a point in your life where you can no longer find meaning in the financial world.”

Author: Jobly