Henry Blodget

Henry Blodget is an American editor, businessman, and former Wall Street securities analyst. He gained notoriety during the dot-com bubble for his role in the Merrill Lynch analyst scandal, which resulted in a lifetime ban from the securities industry. Blodget later co-founded the digital media company Business Insider, serving as its editor-in-chief and CEO before its acquisition by Axel Springer SE.

Early life and education

Henry Blodget was born in New York City and grew up in Washington, D.C., where he attended the Potomac School. He later enrolled at Yale University, graduating in 1988 with a degree in History. After college, Blodget initially pursued a career in journalism, working as a freelance writer and fact-checker for publications like Harper's Magazine. His early professional path included a stint in Japan teaching English before he transitioned into the financial world, taking a position as a junior analyst at the investment bank Prudential Securities.

Career at Merrill Lynch and analyst scandal

Blodget joined Merrill Lynch in 1999, quickly rising to prominence as a star Internet stock analyst during the peak of the dot-com bubble. He became famous for his bullish price target on Amazon.com, which was seen as highly optimistic at the time. However, subsequent investigations by the New York Attorney General and the Securities and Exchange Commission uncovered internal emails in which Blodget privately disparaged stocks he was publicly recommending to clients. This conflict of interest was part of a broader probe into Wall Street research practices, culminating in a 2003 settlement where Blodget agreed to a permanent ban from the securities industry, a $4 million fine, and disgorgement of profits without admitting or denying guilt. The scandal was a central element of the Global Research Analyst Settlement.

Post-scandal career and Business Insider

Following his ban, Blodget wrote a book, *The Wall Street Self-Defense Manual*, and became a financial commentator. In 2007, he co-founded the business news website Business Insider with former DoubleClick executive Kevin P. Ryan. The site, known for its aggregation and analysis of financial news, grew rapidly under Blodget's leadership as editor-in-chief and CEO. It attracted significant investment from firms like Jeff Bezos and RRE Ventures. In 2015, Axel Springer SE purchased a majority stake in the company, which was fully acquired in 2020. Blodget remained executive chairman after the sale. He also launched a subscription research service, Business Insider Intelligence.

Media appearances and public commentary

Blodget has been a frequent commentator on financial markets and technology, appearing on networks such as CNBC, Bloomberg Television, and CNN. He has written columns for Slate and delivered talks at events like the Web 2.0 Summit. His public commentary often focuses on the technology sector, stock market trends, and the media industry. Blodget has been a vocal critic of certain Wall Street practices and has discussed his own past extensively in interviews, including with Charlie Rose and on programs like 60 Minutes.

Personal life

Henry Blodget is married to Sarah Willett, a yoga instructor, and they have three children. The family resides in New York City. An avid runner, Blodget has completed the New York City Marathon. He is involved in various philanthropic activities and has served on the board of the Robin Hood Foundation, a New York City-based poverty-fighting charity.

Category:American businesspeople Category:American editors Category:1966 births Category:Living people Category:Yale University alumni