Einhorn's quick elimination surprised media and spectators as the billionaire has extensive experience at the World Series of Poker.
Einhorn finished third in the inaugural $1 million buy-in event in 2012 and donated the entire $4.35 million prize to charity. He also finished 18th out of 8,773 in the 2006 Main Event.
Moments before taking his seat today he told PokerListings.com he had made the same pledge this year and would be donating all winnings to The Robin Hood Foundation in New York City.
“I'm just really excited to be here,” said Einhorn before the event began. “It's like I said last time, this is just a special thing that I get to do on my summer vacation.
“I get to maybe get lucky and help a great cause but no matter how it goes I know I'm going to have a lot of fun because I get to play a poker tournament against some of the best players in the world.”
It's hard to believe Einhorn could have had fun given how things turned out.
The Million-Dollar Hand
Just 45 minutes into the tournament Uk pro Sam Trickett raised before the flop to 18,000 at blinds of 3k/6k with 4♣ 5♣.
Einhorn in the first Big One for One Drop where he finished 3rd.
Trickett finished second in this event in 2012 for over $10 million.
Einhorn re-raised to 51,000 with pocket jacks. Each player started the hand with roughly 3 million chips and after Einhorn called, the flop came out J♣ 6♦ 2♥.
Einhorn had flopped top set and bet out 75k. Trickett just called and the turn was the 3♠, making Trickett's straight.
Einhorn bet again, this time 175k and Trickett quickly raised to 475,000. Einhorn raised again, making it 775,000 and Trickett thought for a few minutes before making the call.
The river was the Q♠ and Einhorn fired 850k. Trickett moved all-in and Einhorn called instantly.
Trickett showed his straight and after a count of the chips it was determined that Einhorn was indeed the first player eliminated.
WSOP Big One for One Drop to Raise Millions for Charity
With 42 players already registered for this tournament, and 11% of every buy-in going to charity, this event has already raised more than $4.6 million for the One Drop organization.
One Drop seeks to improve living conditions for people around the world by facilitating access to clean water for drinking and agriculture.
Click here to follow PokerListings.com's Live Updates of the 2014 WSOP Big One for One Drop.
Watch the video PokerListings.com shot with David Einhorn moments before the event began.