Billionaire hedge fund manager Julian Robertson dies at 90

Billionaire investor Julian Robertson, whose Tiger Management once ranked among the world's biggest and most successful hedge funds and who trained several generations of prominent fund managers known as Tiger Cubs, has died at age 90.

Robertson died at his home in New York from cardiac complications, said his spokesman, Fraser Seitel.

The North Carolina-born investor who specialized in picking stocks co-founded Tiger Management in 1980 and grew the firm to oversee roughly $22 billion by the late 1990s. In 2000 he shuttered the firm, which had earned an average 32% a year for two decades, saying he could no longer make sense of the markets which were being fueled by the boom and eventual bust of many technology oriented stocks.

Robertson had a net worth of $4.8 billion, according to Forbes.