So, picture this: it’s 2005, and a guy with a bald head and a t-shirt that looks like it was pulled from a laundry basket walks into an investment meeting. He’s Michael Burry, the hedge fund manager who everyone thinks is a total oddball. He starts explaining why the entire U.S. housing market is a ticking time bomb, while the suits across the table just nod and smile, probably thinking, “This guy needs a haircut and a reality check.” Fast forward to 2008, and that “crazy” bet made him a legend—and a whole lot of cash.
But here’s the thing that gets people: how much did Michael Burry actually make in 2008? Not just “a lot” or “life-changing money,” but the real, specific number that made him a household name after The Big Short. Let’s cut through the Hollywood glam and get into the gritty details, because the answer is staggering—and honestly, a little ironic given how the whole thing went down.
The Bet That Made History
Burry didn’t just dabble in housing bonds; he went all-in on credit default swaps (CDS). Think of a CDS like an insurance policy on a house that you don’t own—pretty wild, right? He started buying these swaps against subprime mortgages as early as 2005, when the market was still booming and everyone else was getting rich on easy loans.
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By 2007, his fund, Scion Capital, was down nearly 19% because investors were pulling out money, calling him crazy. Imagine the guts it takes to stick with a bet when your own clients are screaming at you to stop—yikes. But Burry held the line, and when the housing market finally collapsed in 2008, his timing was immaculate.
The Cold, Hard Numbers
Okay, let’s talk dollars—real dollars. According to reports and regulatory filings, Burry’s personal share of the profits from Scion Capital in 2008 was roughly $100 million. Yes, you read that right: one hundred million dollars, give or take a few million for the couch cushions.
But wait—that’s just his personal take. The total profit for his fund was over $700 million from the CDS trades alone. You’ve got to appreciate the math here: he turned a $1.3 billion fund into a profit machine while the rest of the financial world was on fire.
El gran tweet de Michael Burry “Me equivoqué al decir vender”: lo que
Side note: If you’re wondering how that compares to your salary, just know that Burry made more in a single year than most people will see in 1,000 lifetimes. It’s absurd, and yet, it’s true.
The Irony of It All
Here’s where it gets juicy. Burry didn’t walk away from 2008 feeling like a hero—he actually closed his fund to outside investors in 2008 because he was so fed up with the drama. You’d think making a hundred million bucks would make you throw a party, but Burry reportedly said it was “not fun” and that he’d rather be left alone to read medical journals.
And get this: the investors who stayed with him saw returns of over 489% from 2000 to 2008. But the ones who jumped ship early? They missed out on the biggest payday of the decade. Talk about a rough life lesson, right?
What About After the Collapse?
After 2008, Burry didn’t just retire to a beach house—he kept trading. But here’s the kicker: he’s known for making enormous bets that sometimes fail spectacularly, like his short on Tesla or his bet against Cathie Wood’s ARKK fund. So, while he made $100 million in 2008, some of that money got chipped away in later years.
'Big Short' investor Michael Burry makes a $1billion bet on stockmarket
Still, let’s not cry for the guy. Even with losses, his net worth is estimated around $300 million today. That’s still enough to buy a private island and never look at a loan application again.
The Real Takeaway
So, how much did Michael Burry make in 2008? $100 million—enough to make your head spin. But more than the money, it’s the story that sticks: a socially awkward, one-eyed doctor (yep, he lost an eye to cancer) who saw the crash coming when no one else did, and had the nerve to bet the farm on it.
Next time someone calls you crazy for your own “big idea,” just remember Burry in his t-shirt, clicking away at spreadsheets while the world laughed. He didn’t just prove them wrong—he cashed the check. And that, my friend, is what a hundred million bucks of sweet, sweet validation looks like.
P.S. Don’t try this at home. Seriously. The housing market crash was a once-in-a-lifetime event, and most people who bet against it just lost their shirts. Burry is the exception, not the rule—even if his story makes for one heck of a movie.