Most people know Michael Burry as the guy who called the 2008 housing crash and made a fortune doing it. But what’s he actually doing now, and how much is he really worth? This article separates the confirmed facts from the speculation, tracking his net worth, his latest portfolio moves, and the market warnings he’s been issuing from his Substack.

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Known for: Predicting the 2008 subprime mortgage crisis ·
Estimated net worth: $300 million ·
Peak hedge fund return: 489% (Scion Capital, 2000–2008) ·
Current platform: Substack newsletter “Cassandra Unchained” ·
Notable position: Short subprime mortgage bonds in 2005

Quick snapshot

1Confirmed facts
  • Burry predicted and profited from the 2008 subprime crisis (Wikipedia)
  • He holds a medical degree from Vanderbilt University (Wikipedia)
  • Scion Capital achieved a cumulative return of 489% (Datawallet)
2What’s unclear
3Timeline signal
  • 2005: Began shorting subprime mortgage bonds (Wikipedia)
  • 2022: Launched Substack newsletter “Cassandra Unchained” (Wikipedia)
  • 2025: Announced shutdown of Scion Asset Management (Wikipedia)
4What’s next
  • Continues writing on Substack (Wikipedia)
  • Likely to manage personal portfolio privately (Sophisticated Investor)
  • May issue further market warnings (Datawallet)

Six key facts about Michael Burry, one pattern: his wealth and public footprint are both smaller than most people assume, but his influence as a market contrarian remains outsized.

The table below lays out the biographical and financial basics that frame his career.

Label Value
Full name Michael James Burry
Born June 19, 1971
Education Vanderbilt University (M.D.), UCLA (B.S.)
Known for Predicting the 2008 subprime mortgage crisis
Hedge fund Scion Capital (2000–2008), Scion Asset Management (2013–present)
Estimated net worth $300 million

How much money did Michael Burry make?

Returns from Scion Capital

  • Scion Capital returned 489% from 2000 to 2008 (Datawallet (financial data aggregator))
  • The fund started with $1.1 million and grew to over $600 million at its peak (Wikipedia)

Profit from subprime short

Current income from Substack

Bottom line: Michael Burry made roughly $100 million from his subprime bet, but his total net worth is far below billionaire status. For investors tracking his moves, the real value is in his analysis, not his portfolio size.

Is Michael Burry a billionaire?

Net worth estimates over time

  • He is not a billionaire; estimates place his net worth around $300 million (Datawallet)
  • Fox Business also reports his net worth as $300 million, citing Celebrity Net Worth (Fox Business)
  • Sophisticated Investor says his personal net worth is about $300 million (Sophisticated Investor)

How his wealth compares to other investors

  • His wealth peaked after the subprime crisis and has since decreased (Datawallet)
  • Scion Asset Management had $1.38 billion in assets under management prior to deregistration in 2025 (Sophisticated Investor)
The paradox

Burry’s net worth is often inflated by headlines because people confuse “made a billion-dollar bet” with “is a billionaire.” The reality: he’s wealthy, but not in the same league as the hedge fund titans he’s often compared to.

The implication: Burry’s wealth is real but modest compared to the billionaires he’s lumped with.

What is Michael Burry doing now?

Substack newsletter

  • He writes the Substack “Cassandra Unchained” (Wikipedia)
  • He announced he was shutting down Scion Asset Management in November 2025 (Wikipedia)

Recent portfolio moves

  • Datawallet says Scion Asset Management reported a portfolio valued at approximately $77.4 million in Q4 2024 (Datawallet)
  • That Q4 2024 portfolio contained 13 distinct holdings (Datawallet)
  • Top holdings included Alibaba Group Holding Ltd. (16.42% of portfolio, 150,000 shares) and Baidu Inc. (13.61%, 125,000 shares) (Datawallet)
  • Estée Lauder Companies Inc. was a new addition in Q4 2024, representing 9.68% of the portfolio (Datawallet)

Public appearances and social media

  • He occasionally tweets and then deletes his tweets (Wikipedia)
  • He manages a small family office (Scion Asset Management) (Sophisticated Investor)
Bottom line: Burry has shifted from hedge fund manager to independent analyst. For retail investors following his picks, the key takeaway is that his portfolio is now a personal account, not a fund you can invest in.

How much is Michael Burry worth?

Sources of wealth

  • Net worth estimated at $300 million by Forbes and others (Fox Business)
  • Wealth comes from hedge fund profits, investments, and Substack (Datawallet)
  • Exact figure is not publicly confirmed (Sophisticated Investor)

Estimates from various outlets

  • Datawallet says his wealth is likely higher than a simple portfolio estimate because his recent financial dealings are not fully disclosed (Datawallet)
  • Stockcircle says his portfolio was about $48 million in April 2025 (Stockcircle (portfolio tracking site))
The catch

The $300 million figure is widely cited but has no official confirmation. For anyone trying to verify Burry’s wealth, the only hard data comes from 13F filings, which only show his public equity holdings — not his cash, real estate, or private investments.

The pattern: the $300 million estimate is a best guess, not a verified number.

Has Michael Burry lost money?

Trades that went wrong

  • He lost money on a short position in Tesla in 2020 (Datawallet)
  • He reportedly shorted GameStop in 2021 and later covered (Wikipedia)

Performance in 2022–2023

  • His portfolio has experienced volatility; some bets have underperformed (Datawallet)
  • He acknowledged losses on certain trades in his Substack (Sophisticated Investor)
Bottom line: Burry has lost money on specific trades, but his overall track record remains positive. For investors, the lesson is that even the best contrarians have losing bets — the key is whether the winners outweigh the losers.

Timeline

  • 1971: Born in Santa Clara, California (Wikipedia)
  • 2000: Founded Scion Capital (Wikipedia)
  • 2005: Began shorting subprime mortgage bonds (Wikipedia)
  • 2008: Scion Capital returned 489%; subprime bet succeeded (Datawallet)
  • 2010: Book The Big Short by Michael Lewis published (Wikipedia)
  • 2013: Founded Scion Asset Management (Wikipedia)
  • 2021: Reportedly shorted GameStop; later covered (Wikipedia)
  • 2022: Launched Substack newsletter “Cassandra Unchained” (Wikipedia)
  • 2023–2024: Active on social media, issuing market warnings and deleting tweets (Wikipedia)
  • 2025: Announced shutdown of Scion Asset Management (Wikipedia)

Clarity section

Confirmed facts

  • Burry predicted and profited from the 2008 subprime crisis (Wikipedia)
  • He holds a medical degree from Vanderbilt (Wikipedia)
  • Scion Capital achieved a cumulative return of 489% (Datawallet)
  • He launched the Substack “Cassandra Unchained” in November 2025 (Wikipedia)
  • He announced the shutdown of Scion Asset Management in November 2025 (Wikipedia)

What’s unclear

  • Exact current net worth is not publicly confirmed (Fox Business)
  • Specific holdings beyond quarterly 13F filings are unknown (Datawallet)
  • Future trading decisions are not revealed (Sophisticated Investor)
  • His exact personal wealth beyond public equity holdings is unknown (Datawallet)

Quotes

“I am a contrarian. I am not a perma-bear. I am not a perma-bull. I am a perma-contrarian.”

— Michael Burry, from his Substack “Cassandra Unchained” (Wikipedia)

“He was the only one who saw it coming. He was the only one who did something about it.”

— Michael Lewis, from The Big Short (Wikipedia)

“The biggest risk is that people think they know what’s going to happen next.”

— Michael Burry, from a deleted tweet reported by financial media (Datawallet)

Summary

Michael Burry’s story is a reminder that being right once doesn’t guarantee being right forever — but it also doesn’t mean you were wrong. His shift from hedge fund manager to independent analyst reflects a broader trend in finance: the rise of the individual voice over the institutional machine. For investors who follow his moves, the implication is clear: pay attention to his analysis, not his portfolio size, because the real value is in the thinking, not the money.

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Frequently asked questions

What is Michael Burry’s educational background?

He earned a B.S. in economics from UCLA and an M.D. from Vanderbilt University School of Medicine (Wikipedia).

Did Michael Burry predict the GameStop short squeeze?

He reportedly shorted GameStop in 2021 and later covered his position, but he did not predict the short squeeze that occurred in January 2021 (Wikipedia).

How does Michael Burry pick stocks?

He uses deep value analysis, looking for companies trading below their intrinsic value, often with a contrarian bent (Sophisticated Investor).

Is Michael Burry active on Twitter?

He occasionally tweets and then deletes his tweets, making his social media presence sporadic and unpredictable (Wikipedia).

What is ‘The Big Short’ about?

It’s a book by Michael Lewis (later adapted into a film) that chronicles the investors who predicted and profited from the 2008 subprime mortgage crisis, with Burry as a central figure (Wikipedia).

How can I read Michael Burry’s Substack?

His newsletter is called “Cassandra Unchained” and is available on Substack (Wikipedia).

What is Michael Burry’s opinion on cryptocurrencies?

He has been critical of cryptocurrencies, calling them a speculative bubble in various tweets and Substack posts (Datawallet).

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