Rich Handler

CEO Jefferies. “Be a good person."

[Rich Handler @HandlerRich]

I could not be prouder of our @Jefferies global research team! $JEF

[Rich Handler @HandlerRich]

@Bkclaims I would if you didn’t always make me overdress.

[Rich Handler @HandlerRich]

“Clients First, Always” isn't just a slogan. Here is what it means at @Jefferies. $JEF

"Last month we sent an internal note to our team explaining how Jefferies is actually in the “Hospitality Business.” As we recently announced our fiscal third quarter 2026 results, we began thinking about why Jefferies has had such strong momentum. While our people, culture, capital, strategy, commitment to execute, and brand will always be critical factors in determining Jefferies’ success, the most critical is the very simple, even obvious, motto that we all live by at our firm: “Clients First, Always.” Read the full letter here https://t.co/TZAapssBQu

[Rich Handler @HandlerRich]

@ArgamaniNoa @VineVenturesLP @BusinessInsider @meliarobin @JamieHeller Congrats! They are lucky to have you!❤️

[Rich Handler @HandlerRich]

I could not be prouder of @Jefferies very own @jefmacrostrat for joining the US Department of the Treasury as Counselor to the Secretary.  The markets are complicated at this important moment in time and there is no doubt that David Zervos’s experience and perspective will be of great service to the USA.  Get to it David and all your colleagues and clients from Jefferies are counting down the 130 days until you return.  #Country first, always.

https://t.co/198MSfiN1s

[Rich Handler @HandlerRich]

@jlevy1967 @Jefferies Sometimes it feels like yesterday, and sometimes it feels like a nightmare that could not have truly happened.

[Rich Handler @HandlerRich]

25 Years ago as a brand new CEO at @Jefferies, I suddenly realized the privilege and responsibility of my new position. This is the first note I ever wrote to our firm:

https://t.co/kwJw0NrxLO

[Rich Handler @HandlerRich]

@sobemik @Jefferies Thank you my friend. Been too long. ❤️

[Rich Handler @HandlerRich]

Turns out, we're not just in finance. @Jefferies is in the hospitality business. $JEF

"After a recent business dinner, one of us bumped into a legendary leader in the hospitality industry who was more of an acquaintance than a longtime friend or client. He graciously offered a seat at his table for an after-dinner drink. This individual, who had famously built a truly world-class empire over decades, was familiar with Jefferies because he knew some of our clients and partners and even had a close relative who worked for Jefferies in a junior capacity. His words were simple and direct but carried so much meaning that we wanted to share them with all of you today as we start Jefferies fiscal fourth quarter." Read the full letter here https://t.co/ii3rTEq5M9

[Rich Handler @HandlerRich]

Nobody truly knows the reality of what is going on in somebody else’s life. This is a great reminder of the strength of the human spirit and the power of love. ❤️

[Bill Ackman @BillAckman]

At midnight on February 6th, earlier this year, the doorbell to our apartment rang. The doorbell was followed by a pounding on the door. I answered the door and a security person in our building handed me his phone. It was my oldest daughter Eloise. She had found my 26-year-old daughter unconscious on the floor of her apartment and had called 911. The EMT team was already there, but they did not know what was wrong with Lucy or to which hospital they would take her.

I threw on some clothes and jumped in an Uber heading east toward Brooklyn. (Lucy lived alone in Williamsburg.) On the way, I learned that they were taking her to Elmhurst, a City trauma hospital in Queens. I arrived about five minutes after the ambulance to join Eloise, Lucy’s mom, and a friend, and waited to learn what was wrong.

After about 15 minutes, I asked a nurse where she was. I looked over his shoulder to his computer. Next to her name, it said “non-responsive.” I walked into the emergency room and wandered around looking for her until I found her unconscious on a gurney surrounded by several doctors and nurses.

By about 2:30am with the results from a CAT scan, Lucy’s doctors had determined that she had a massive brain hemorrhage and would need an emergency hemicraniectomy to release the pressure on her brain and remove the blood from the hemorrhage. I called our wonderful friend and family doctor Eddie Fisher and explained what was going on. He woke up Josh Bederson, Chairman of Neurosurgery at Mount Sinai, to find out more about Zach Hickman, the neurosurgeon on call that night. Dr. Bederson said Hickman was an excellent surgeon, which was comforting as we had no choice.

The surgery to save Lucy’s life began around 3:15am and finished around 5:30am. It was successful.

The following day, I joined Lucy in an ambulance while she was being transferred to Mount Sinai on Madison Avenue. Later that day, we determined from Lucy’s Oura ring that her hemorrhage had occurred around 9am, which meant that more than 19 hours had passed from the time of the hemorrhage to the completion of the surgery to release the pressure on her brain (I only wish @ouraring had an alert for this kind of a medical event. Imagine it could call a family member if the wearer doesn’t cancel the alert).

I later learned that the standard of care is not to do surgery to save a patient with a large brain bleed if more than five hours have passed since the hemorrhage. Even when the surgery is done, I was told that the likely outcome for the patient is a few months in a nursing home and death from pneumonia.

When I met Lucy’s doctors, I did my best to inspire them: “Let’s see what can be accomplished if we give her the best care possible and we invest unlimited resources to restore her to life.” And I promised that whatever we learned we would make available to everyone.

Dr. Chris Kellner, her neurosurgeon, and Dr. David Putrino, Director of Rehabilitation Innovation for the Mount Sinai Health System have led Lucy’s care team since that day. Words cannot describe the remarkable and compassionate care that she has received beginning with the EMT team and then from nurses, doctors, therapists, and the army of people who have worked to save her and return her to life. To this day, we have a daily Zoom where we discuss her progress and make adjustments to her care. While her care and oversight have been incredible, the learnings for the Mount Sinai team have also been elucidating and will assist in the care of many others.

Lucy began in a bad place. She was in a coma for several weeks and then awoke not being able to breathe on her own, unable to walk, see or speak.

Over the last six months, she has recovered her cognition – she understands everything including her circumstance – is able to walk a hundred or more steps at a time with assistance, is making progress with sounds, vowels and consonants and the beginnings of speech, but she remains unable to see.

Each day, she makes a little progress, and daily progress compounds. Every day I tell her that she just needs to make a little progress and it won’t be long before she is back.

We remain optimistic that Lucy will return to normal function. It will likely take years, but I believe it is only a matter of time, hard work, and technological progress, along with some, and perhaps a lot, of divine intervention.

Many people have been praying for Lucy and we are incredibly grateful for the prayers and remarkable support she has received. Lucy’s friends have been with her every day since the beginning, and their presence and friendship have saved her life and helped to rebuild and maintain her spirit. And on a very positive note, Lucy’s challenge has brought together our entire modern family who have all been incredibly devoted to her care and recovery.

Lucy's vision and other faculties may require some form of brain computer interface, work that is underway at Neuralink, Precision Neuroscience, Science, Synchron, Nudge, and other companies in the space.

If you are going to have a devastating brain injury, now is the best time in history for that to happen. We are living in a world when you can be confident that the blind will soon see again. We are going to do everything we can to help make that happen, including by assisting existing companies in the space.

With respect to our promise to make Lucy’s care available to others, we have made good progress. In May, a real estate colleague made me aware of a 93% vacant, brand new, 400,000 square foot Class A+ purpose-built biotech facility on West End Avenue between 65th and 66th Streets that missed the market and was available for sale. The Pershing Square Foundation acquired the building 60 days later.

We also put under contract an adjoining 130,000 square foot building at 320 West 66th Street that is currently being used by Saturday Night Live for studio space. The building has 35-foot ceilings with massive column-free spaces that can be converted into superb rehabilitation facilities. We will close on the SNL building in December.

We are also acquiring an adjoining vacant lot with additional air rights. With just the existing zoning rights, we can add a 150,000 square feet for a total of 680,000 square feet, a lab footprint larger than Rockefeller University, and that’s without including the potential for an upzoning that would allow for substantially more buildable area on the site’s 3.4 acres with spectacular views of the Hudson.

Our goal is to build the world’s greatest brain research, rehabilitation, recovery, human optimization, and longevity institute. We have named it The Ackman Oxman Institute or the AOI for lack of a better name, but also to reinforce the point that Neri and I and our family are all-in on the mission.

The AOI will be patient-centric. It will not be an academic research institute that produces lots of papers, a Nobel Prize winner or two, but little if any results for patients. We will be laser-focused on cures, treatments, devices, rehabilitation and exercise equipment, and targeted and basic research with a goal of massively accelerating the time from idea to innovation to production to helping a patient.

While the AOI will be a non-profit, it will have highly commercial instincts. The AOI will have its own venture funding and will work to develop innovations to create companies that we will seed, assist, and spinout to ensure technologies, treatments, techniques, and drugs get to patients as promptly as possible.

On one 3.4 acre campus in what is still the greatest city in the world, we will do neurosurgery, neuroscience, rehabilitation, nutrition, BCI and device development, human trials, hyperbaric oxygen treatments, and life extension programs, and we will mandate and incentivize collaboration among the teams with no silos, politics, bureaucracy, or any other constraint that is inconsistent with the mission.

Mount Sinai will be an important partner and deservedly so, but it won’t be our only hospital or medical school partner as we don’t believe any institution has a monopoly on the best ideas or the best talent. We don’t believe in exclusive relationships because that is not in the best interest of patients.

Five years ago, we considered launching a brain institute inspired by Neri’s mom who sadly died from Alzheimer’s. We couldn’t make the math work as the real estate was too expensive and we believed it would be too difficult to recruit the best talent from universities to our effort.

Since then, the real estate became available at a 70% discount, universities became a much less attractive place to work due to politics outweighing meritocracy, protests that disrupt learning, the curse of antisemitism, and a decline in funding. Fortunately, during the same time, I made sufficient personal economic progress to make the AOI possible.

The advance of AI in the last few years will also enable us to greatly accelerate our mission. AI still has a lot to learn about human intelligence and the brain, and the AOI should be at the forefront of the interplay between the brain and AI.

Today, I am making a public filing disclosing a gift from Neri and me of ~$400 million or 10,000,000 shares of Pershing Square Inc. (PS) to the AOI. It is very early days for Pershing Square so these shares are intended to anchor the long-term work of the AOI as the shares compound over time while generating what we expect will be a growing stream of quarterly dividends to fund the Institute.

We will also be announcing an additional gift of similar and potentially greater size which won’t be in the form of Pershing Square stock to provide the AOI with the short- and intermediate-term runway necessary to enable it to achieve its goal of becoming a self-sustaining institute, which reinvests all of its revenues, royalties, and the economic rewards of company formation to advance the fields of brain health and human longevity.

Neri and I have chosen to anchor the funding of the AOI to maintain vision alignment and limit the need for the organization to focus on fundraising. We expect the AOI to be the best-resourced brain, rehab, recovery, and longevity institute in the world.

We are grateful to have been able to form a board which includes Dean Kamen (our generation’s Thomas Edison), George Yancopoulus (CEO of Regeneron), James Rothman (Nobel Laureate), Bernardo Sabatini (neuroscientist), Chris Kellner (neurosurgeon), Olivia Flatto (CEO Pershing Square Foundation), Neri Oxman, and myself.

We have recently identified a CEO who we expect to announce by October along with other key hires, and are beginning searches for a Chief Scientific Officer, a Chief AI/Technology Officer, a Chief Operating Officer, a Chief Financial Officer, and other key leadership roles.

If you find what we are building compelling and want to be part of the leadership team that creates and builds the AOI from a standing start, please send an email to: [email protected] with a short note as to why you believe you can help. Please include your best three ideas for the AOI along with a summary of your background and your most important accomplishments.

We promise strict confidentiality to those expressing interest in working with us.

We have learned from Lucy that the brain can recover from even catastrophic injury. There is so much more work to be done as the mind is a terrible thing to waste.

For details from my Pershing Square SEC filing see:

https://t.co/gZKafCw6Ia

[Rich Handler @HandlerRich]

We asked our 406 @Jefferies 2026 summer interns to write our monthly letter to set the tone for our firm. Here are the 3 winners and their note to our 6,500 Jefferies employee-partners. $JEF

"Each August, our monthly letter spotlights perspectives from our global summer intern class. This tradition allows us to listen to fresh voices while also taking a moment to pause and reflect. Our interns can write about whatever they think is meaningful, whether it’s global trends, capital markets, personal growth, or their experience with Team Jefferies." Read the full letter here https://t.co/8cS9mY3PQw

[Rich Handler @HandlerRich]

This is a very valuable moment in time and there is a LOT to do together. @jefferies $JEF

"The two of us have been through more market cycles and swings in our careers than perhaps we care to admit. With this experience, we would like to share our observations about today’s market sentiment, because we find it unique and one that must be appreciated and embraced. It is possible that the current environment portends a sustainable long-term opportunity, or it could be a relatively short pre-cursor of a major market dislocation. Nobody knows for sure, but if we had to put down our wager, we believe for many reasons this is real and durable." Read the full letter here https://t.co/rsNgZHNEH8

[Rich Handler @HandlerRich]

@nishantkumar07 Ben P is special. 💪🏼❤️

[Rich Handler @HandlerRich]

@skhetpal Agreed on all. Very smart, consistent and humble.

[Rich Handler @HandlerRich]

@AlbertBourla You’re wonderful. Thank you for sharing your wisdom with our @Jefferies clients!

[Rich Handler @HandlerRich]

The more I think about it, while @DanielSLoeb1 was opening up savings accounts, I was working on the liquidation of Drexel (1990) during the day and spending all night (for 3 months) photocopying the hundreds of binders listing all holders of the junk bonds Drexel sold. Since Drexel closed, I had to start over from scratch. We used the copied holders lists to make markets, provide research, and begin investment banking at @Jefferies. 35 unemployed Drexel people came w us to this small (but great) third market agency equity trading firm. Jefferies gave us virtually all of their risk capital ($35mm), an amount I found unfathomable that anyone would trust us with. I was 28. Met Dan a year later. Crazy.

[Rich Handler @HandlerRich]

I vividly remember you doing this and I also recall thinking, “what 20-something-year-old even thinks about doing this?” Definitely a harbinger of things to come.

[Rich Handler @HandlerRich]

I vividly remember you doing this and I also recall thinking, “what 20-something-year-old even thinks about doing this?” Definitely a harbinger of things to come.

[Daniel S. Loeb @DanielSLoeb1]

In 1989~1991, I traveled the country putting deposits in mutually held S&Ls. At the time my net worth was under $10,000. I put the better part of my life savings in passbook accounts and CDs in the expectation that they would one day go public and that I would have the capital to participate in the IPOs which usually allow for investments of $250k-500k
A number of them went public during my days at Jefferies working for @HandlerRich in ‘91-‘94 allowing me to make enough (along with some generous bonuses from my employer) for my grub stake which funded the GP capital to launch Third Point on June 1, 1995. 35 + years later I have maintained all the accounts and periodically participate in the offerings to this day.

[Rich Handler @HandlerRich]

@exec_sum @litcapital Not true. Not arranging any shorts.

[Rich Handler @HandlerRich]

Jefferies is not promoting any shorting activity regarding any IPO.  Any suggestion to the contrary is WRONG.

[Rich Handler @HandlerRich]

Welcome @Jefferies 406 global analyst and associate summer interns (largest ever) representing 144 colleges, universities, & business schools. The markets are wide open so let's get to it! $JEF

Read the full letter here ➡️ https://t.co/RoGQd8evxn