Millennium Management is a hedge fund and a multistrategy investment management firm, providing related services such as portfolio management, market research and trading. Israel A. Englander and Ronald Shear an acquaintance from the American Stock Exchange (AMEX) founded the firm in 1989 with $35 million. The initial $35 million consisted of $5 million from Englander and "$2 million from the Belzberg brothers, wealthy Canadian financiers." Millennium Management initially underperformed and founder Ronald Shear left the firm six months after founding it. In 2019 it was reported that since its founding in 1989 Millennium Management had made $22.4 billion for its investors. Millennium is structured with about 200 investment teams with each portfolio manager allocated money “to deploy in a variety of trading strategies.”