Spotlight Shines on Plainview's Golden Son

Plainview native Josh Sason, 27, lives in the rockstar world he long envisioned. He calls a Tribeca penthouse home and vacations in Malaysia with his lingerie-model girlfriend, as Bloomberg Business tells it. And when Sason isn’t filming a cameo in the Marty Scorsese film he’s producing, you might catch him at a London studio recording with an Israeli actress.

At a time when many of his fellow Hofstra alum and other Long Island 20-somethings are coping with student debt, and living in their parents’ basements to help make ends meet, Sason is infusing cash into struggling corporations across the globe, through penny stocks, and profiting – big time – in the process.

“I’m not going to give away the details of how we do what we do,” he told Bloomberg. “We create businesses, and we invest.”

Through his company, Magna, Sason scored $200 million in deals, and has diversified into the entertainment industry, which may help keep financial regulators at bay, Bloomberg reports.

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But even though Sason has often seen investments double and triple in value, the journey hasn’t always been trouble-free. There’s the matter of a law suit, dismissed by a judge, filed against him by Great Neck resident Yossef Kahlon, who charges that Sason copied his business model, something Sason doesn’t discuss, according to Bloomberg.

Still, Sason hasn’t forgotten his roots. His brother Ari joined him in the business. And he’s been honored for his philanthropy, including making significant contributions to the Mid Island Y Jewish Community Center, where a gym has been rededicated in his name. At a ceremony last June, Al Berg, CEO of Marchon Eyewear and vice president of the JCC’s board of directors, presented a handcrafted Tzedakah box to Sason, recognizing his contributions.

And his reach into the entertainment world is also based on Long Island, where as a teenager, he and his garage-band buddies scored a record deal that went on to captured the interest of big label record executives, according to Bloomberg. And while the band never got any further, Sason got a taste of celebrity.

As for the future of his company, Sason said, “I want to build something powerful and something meaningful and lasting.”

Read more about Josh Sason in the Bloomberg story, “This 27-Year-Old Made Millions Riding the Death Spirals of Penny Stocks.”

Image: Al Berg (left), CEO of Marchon Eyewear and Vice President of the MIY JCC’s Board of Directors, presented Mr. Joshua Sason with a handcrafted Tzedakah box in honor of his key role in the continued success and growth of the organization. (Photo: Business Wire)

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