Coleman grew up in Glen Head, Long Island.^[4] His father, C. Payson Coleman Jr., born in 1950,^[5] is a partner at the New York law firm Pillsbury Winthrop Shaw Pittman, and his mother, Kim Coleman, owns an interior design firm.^[6][7]

His grandfather, Charles Payson Coleman, who was managing partner of the New York law firm Davis Polk & Wardwell until his death in 1982, was married to Mimi C. Thompson (née Louise Stuyvesant Wainwright), a descendant of Peter Stuyvesant, the last Dutch Governor who surrendered New Amsterdam to the British.^[8][9]

Coleman followed his father to both Deerfield Academy^[4] and Williams College, where he graduated in 1997, and was co-captain of the lacrosse team.^[10]

Coleman started his career in 1997, working for Julian Robertson and the latter's hedge fund, Tiger Management.^[11] He had grown up with Robertson's son, Spencer, who lived close to Glen Head, in Locust Valley. In 2000, Robertson closed his fund, and entrusted Coleman with over $25 million to manage, making him one of the 30 or more so-called "Tiger Cubs", fund managers who started their fund management careers with Tiger Management.^[4] “I’ve known Chase since he was a young boy on Long Island and a good friend of my son Spencer,” [Julian] Robertson said.^[12]

Coleman serves as partner of the investment firm he founded, Tiger Global Management. The hedge fund was an early investor in both Facebook and LinkedIn.^[13][14]

On the Forbes 2019 list of the world's billionaires, he was ranked #458 with a net worth of US$4.5 billion.^[11] According to Business Insider, he was born into "old money" and has made a lot of "new money" as well.^[15] According to Institutional Investor, he made an estimated $2.5 billion in 2020.^[16]

In 2012 Coleman donated US$31,000 to the National Republican Senatorial Committee and US$5,000 to Mitt Romney's presidential campaign.^[4] He has also donated to Democratic candidates, including $10,000 to New York Governor Andrew Cuomo, $4,950 to Manhattan Borough President Scott Stringer, and $2,700 to New York Senator Charles Schumer.^{[citation needed]}

Coleman married Stephanie Ercklentz, the daughter of lawyer Enno Ercklentz Jr. and Mai Harrison and step-daughter of Ridgely W. Harrison Jr., at Bethesda-by-the-Sea, Palm Beach, Florida, in 2005.^[7][17] She is a Wellesley College graduate who worked in investment banking for Merrill Lynch and Marketing and PR for Anne Klein and Vera Wang.^[18] Ercklentz was featured in the film, Born Rich, a 2003 documentary about growing up in the world's richest families.^[19] Her mother, Mai Harrison (née Vilms), is the grand-niece of Jüri Vilms, a member of the Estonian Salvation Committee and leader of the Estonian Independence Movement.^[20]

The couple resides in New York City with their 4 children.^[19] In 2007, they bought an estate on Meadow Lane in Southampton for $32.5 million.^[21] In 2008, they bought the entire sixth floor of a Fifth Avenue building at 66th Street from Veronica Hearst, the daughter-in-law of William Randolph Hearst, for US$36.5 million.^[4] In 2016, the Colemans bought the fifth floor for $52 million and infamously allowed party guests to graffiti the walls in 2018 before demolition to combine it with their existing home.^[22] They also own properties in Palm Beach, Florida.