|James J. Cramer
|68 years old
|Date Of Birth:
|10 February, 1955
|Wyndmoor, Pennsylvania, United States
|TV Personality,Entrepreneur, Investor,
|Net Worth in 2023:
Jim Cramer Net Worth
Jim Cramer is an American hedge fund manager, author, and television host. He is best known for being the host of CNBC’s Mad Money. Jim Cramer is the co-founder and chairman of TheStreet.com. Jim is the author of seven books.
Jim Cramer net worth is $150 million, he earns an annual salary of $5 million.
Jim Cramer’s real name is James Joseph Cramer. He was born on 10 February 1955, to Ken Cramer and Louis Cramer, in Wyndmoor, Pennsylvania. His father Ken was the owner of an international packaging product company and his mother was an artist. Jim Cramer attended Springfield Township High School. At a very young age, he started studying stocks and gained good knowledge about the market. Jim Cramer completed his Bachelor’s in Arts from Harvard University. While studying at Harvard he was editor in chief and president of The Harvard Crimson.
In 1984, he completed a Doctor of Law degree from Harvard Law School. During that time he started investing in the stock market, he was making enough from trading to cover his tuition fee.
Jim Cramer’s first job was as an entry-level reporter at Tallahassee Democrat Publication. He was the first person to cover Ted Bundy’s murder at that time, as he was a few blocks away from the location. He has worked with publications like American lawyer, and Los Angeles Herald Examiner. He also worked with Jerry Brown, Governor of California. During this time, his apartment was robbed and he lost everything and he was forced to live out of his car for 9 months.
After completing his graduation from Harvard Law School, he joined Goldman Sachs as a stockbroker.
In 1987, Jim left Goldman Sachs to start his own hedge fund company, Cramer & Co.(later Cramer & Berkowitz &Co.). Some early investors in his company include his friends Eliot Spitzer, Steve Brill, and Martin Peretz. He managed to raise $450 million in $5 million increments, and receive a fee of 20% of the profit he generated. He claims that over the period of 14 years he has produced a 24% average annual return. He also claims that he had only one year of negative return-1988. In 2001 he retired from the headphones and it was taken by his partner Jeff Berkowitz.
He was an editor at large for SmartMoney magazine. He was accused of unethical practices when he made $2 million in personal gains as he bought the stock just before recommending the stock in the article.
In 1996, Jim Cramer and his friend Martin Peretz launched the financial news website TheStreet.com. In 2019, the website was sold to TheMaven for $16.5 million.
In the late 1990s, he was featured as a guest commentator on CNBC. From 2002 to 2005, he was the co-host of Kudlow & Cramer. In 2005, he hosted Mad Money with Jim Cramer. The goal of the show was to teach people to do- it- yourself investing with the knowledge and tools that will help people to become better investors. He was required to disclose any position he holds in the stock that he discussed on the show and was not allowed to trade any security that he had spoken about on CNBC for 5 days following each broadcast. The show Mad Money was inspired by a one-hour radio show, Jim Cramer’s Real Money, the radio show that ended in 2006.
He also appeared on many TV shows including Live with Regis and Kelly, Cheap Seat, Today, NBC Nightly News, The Tonight Show with Jay Leno, Jimmy Kimmel Live, Late Show with David Letterman, and Late Night with Conan O’Brien, The Daily Show and The Apprentice.
He also appeared in Iron Man, spoofing stark industries on his show Mad Money.
Jim Cramer is the author of several books. These include You Got Screwed! Why Wall Street tanked and how you can Prosper, Confessions of a Street Addict, Jim Cramer’s Real Money: Sane Investing in an Insane World, Jim Cramer’s Getting Back to Even, Jim Cramer’s Stay Mad for Life: Get Rich, Stay Rich, Get Rich Carefully.
Also Read: Bill Ackman Net Worth
Awards and Achievements
Jim Cramer has not won an award in his career but still, he is a successful person in the industry.
In 1988, Cramer married Karen Backfisch, the couple had two children. They separated in 2009.
In 2015 Jim married Lisa Cadette Detwiler. Lisa was a general manager of an Italian restaurant, The Longshoreman, and a real estate broker.
His license to practice law was suspended in 2009 because he failed to pay the registration fee. In 2002, Fox News channel filed a lawsuit against Cramer and TheStreet.com, they claimed that Jim had reneged on a deal to produce a show for Fox.
Jim Cramer net worth is $150 million. He earns significant income from book royalties, investing in the stock market, and hosting various shows. He has purchased a 100-year-old home for $2.3million in Summit, New Jersey. As a part of the divorce settlement, Jim sold their house to Karen for $1 and Karen sold the house for 3.6 million. He also owns 65 acres of land in New Jersey.