Have you ever wondered what the net worth of Jim Cramer Is? As the legendary voice of CNBC’s “Mad Money,” the man has definitely built a reputation for himself. Jim Cramer has an incredibly impressive resume of positions worked in and out of Wall Street. He’s now leveraged his knowledge from finance to build his massive net worth. As of August 2022, Jim Cramer has a net worth of $100 million. This post will show you exactly how he achieved success and what you can learn from his story.
Jim Cramer was born on February 10, 1955, in Wyndmoor, Pennsylvania. He was raised in a Jewish-American household by both Lewis and Jim Cramer Sr. Surprisingly, the young boy began studying stocks and equities in the fourth grade. He continued this passion all the way until high school, when he was finally able to open his own brokerage account and invest his own money!
Jim Cramer went to Springfield Township High School in Montgomery County, Pennsylvania. During this time, he worked multiple jobs as his parents wanted to instill the value of hard work.
Jim Cramer has noted that he used to invest a portion of every bi-weekly paycheck he would receive! Among his first jobs, Cramer sold Coca-Cola and ice cream at the Veterans Stadium during Philadelphia Phillies games.
In 1977, Jim Cramer graduated from Harvard College with a Bachelor’s of Art’s degree in government. During his time at Harvard, Jim Cramer actually became the chief editing director of the Harvard Crimson, the school’s weekly student newspaper.
Jim Cramer first began his career as a local reporter for his hometown. After working here for some time, Jim Cramer took a particular interest in finance and equity markets once again. In a drastic career change, Cramer quit his job as a reporter and focused all of his energy on becoming an investment banker.
Sure enough, Jim Cramer received a job at Goldman Sachs on their trading and sales floor. Here, he traded futures, derivatives, and options.
In 1987, Jim Cramer decided to quit his lucrative job as a banker to start his own hedge fund. The hedge fund was known as Cramer, Berkowitz & Co. The fund operated out of the offices of Michael Steinhardt. Early investors included famous names such as Eliot Spitzer, Steve Brill, and Martin Peretz.
Cramer raised $450 million dollars in $5 million dollar increments. Additionally, he received a fee of 20% of the money the fund made!
In 2001, Jim Cramer decided to retire from his fund, which is now run by his long-time friend. Since then, Jim Cramer has worked as the host of CNBC’s “Mad Money.” The show helps new investors make better financial decisions in the stock market!
One of the biggest ways Jim Cramer has differentiated himself as an analyst on wall street is through his investment approach. Jim Cramer is known to specifically look for companies that have underperformed and are set to ride trends back to the upside.
With this approach, Jim Cramer claims to have only ever had one negative investment return in all of his time in the industry. This incredible performance, including his differentiated approach, has led his hedge fund to be hyper-successful.
Jim Cramer Net Worth 2022
As of August 2022, Jim Cramer has a net worth of $100 million. A majority of this net worth was made from his career annual earnings, returns made on investments, ownership in real estate, and stakes in multiple active funds today.
- Don’t Listen To The Negativity: Time and time again, Jim Cramer has received countless critics. Because he works in an “opinion-heavy” industry like equity markets, many talk show hosts or even competing analysts will bash and challenge his ideas. Regardless, he stays level-headed and confident in his thoughts. Similarly, we should strive to be set in stone with whatever we believe in.
- Start Early: Jim Cramer began learning the stock market at the mere age of thirteen. By high school, he had already been investing his own money. Similarly, strive to start as early as possible always.
- Never Give Up: Cramer had many difficult professions with massive time commitments. Regardless, he pushed and persevered to get to where he is today. We should strive to emulate this work ethic so we, too, can see our net worth grow!