Einhorn Finishes Third in Poker Tournament, With $4.35 Million

David Einhorn, who runs Greenlight Capital, has staked $1 million on a charity tournament at the World Series of Poker in Las Vegas. Jay Newnum/WSOP.comDavid Einhorn, who runs Greenlight Capital, has staked $1 million on a charity tournament at the World Series of Poker in Las Vegas.

It’s a return that would make any hedge fund manager envious.

David Einhorn, the president of Greenlight Capital, won more than four times his money in a three-day tournament at the World Series of Poker in Las Vegas, finishing in third place with a $4.35 million reward. He plans to donate the winnings to a charitable organization.

Wearing a bright red jacket and mirrored sunglasses, Mr. Einhorn went bust on Tuesday evening after beating all of the amateur poker players and all but two of the professionals in the no-limit Texas hold ‘em tournament, which drew 48 players and required a $1 million buy-in.

“It was fun,” Mr. Einhorn said after he was eliminated, according to an interview transcript provided by the World Series of Poker. Many of the players, he said, “have lots and lots of experience, and then they invited a few guys like me in, and said ‘let’s have a poker party.’ And I honestly think this is almost designed to have a great summer vacation.”

It wasn’t Mr. Einhorn’s first time at the World Series of Poker, but his pot was by far the most he has won at those tables. In 2006, he earned $600,000 after finishing in 18th place, and last year he walked away empty-handed.

Mr. Einhorn, an investor known for his contrarian calls, was playing for City Year, a Boston-based organization that works with public schools to prevent student dropouts. His jacket on Tuesday, which bore the City Year logo, was a recent gift from the group to show appreciation for his support over the years.

“David’s impressive poker skills are surpassed only by his genuine and inspiring philanthropy,” said Michael Brown, the chief executive and co-founder of City Year, in a statement on Tuesday.

The tournament itself raised $5.5 million for One Drop, an organization based in Montreal that supports access to clean drinking water. One Drop’s founder, Guy Laliberté, came in fifth place in the tournament, with $1.83 million.

Mr. Einhorn, who was accompanied at the game by his wife, Cheryl, was ultimately eliminated by Antonio Esfandiari, a professional poker player who finished the tournament in first, with an $18.35 million haul.