Jim Cramer’s Net Worth
Jim Cramer’s net worth is estimated to be about $100 million. His is the typical story of a self-made man. Born in February, 10, 1955, Cramer had a normal childhood in his hometown of Wyndmoor. He pursued a B.A in Government in Harvard University. Besides studying, he was also engaged in journalism at the college. He led and contributed for The Harvard Crimson. Upon graduation, Jim Cramer hit the job market in search of a journalism job. He worked for various media houses among them Tellahesse Democrat in Florida where he worked as a reporter. He later worked for Herald-Examiner.
As a journalist there, Jim had a misfortune when his house robbers broke into and stole all his valuables. The incident reduced him to a homeless man who could only afford to sleep in his car for around six months before he could get back on his feet.
Cramer also reported for the American lawyer publication, where he developed an interest in law and studied for a Jurist Doctor degree at his former college. Cramer’s penchant for trying out new ways of doing things and different careers could later lead him to try a hand in buying stock while at Harvard. He began forecasting the stock market trends and invested in the stocks. His knack for the stock market investments caught the eyes of Martin Peretz, who owned The New Republic.
Peretz gave Cramer $500,000 to invest on his behalf. Within just two years, the money had accrued a profit of $150,000. The experience helped him to secure a job at the Goldman Sachs’ Private Wealth Management as a stockbroker. His success in the job gave him confidence to start his hedge fund. The fund had an exceptional performance from 1988 to 2000 when Cramer stepped down as the manager of the fund. It only recorded losses in one year; 1998 which it recovered and surpassed in the next two years. For the rest of the years, he could make $10million annually.
Currently, Jim Cramer is seen on CNBC almost on a daily basis and the host of the popular Mad Money show on CNBC. He uses the show as a platform to share his vast experience in investing in the capital market with the viewers. His wealth of knowledge encompasses such information as the techniques of spotting viable companies to invest in and knowing the right timing to do so.
Jim has also graced many TV shows to be interviewed on his field of expertise in shares buying. He has also published invaluable information on the same in books such as Jim Cramer’s Stay Mad for Life: Get Rich, Stay Rich and Jim Cramer’s Getting Back to Even among others. Arguably, considering Jim Cramer’s success story with a net worth of $100 million, no doubt his strategies are very effective and practical for long term investors.