Wall Street attracts many prospective stock traders who wish to make it big. Some do, a lot don’t. This high-risk high-reward business is extremely lucrative and ever changing. Large trades and acquisitions happen in a matter of seconds, and leave ripples that can be felt all across the stock market. In this intense business only the strong survive; those that can adapt at a moments notice. Let’s take a look at some of the heaviest hitters in this field.
5. James Simon- Net Worth: 12.5 Billion
Considered to be a leader in financial signal processing, mathematician, hedge fund owner, and philanthropist James Simon is an extremely successful and affluent trader. At just 23 years of age, Simon received his undergraduate degree in mathematics from MIT and his doctorate from the University of California, Berkeley. Using his code-breaking knowledge from working with the Department of Defense during the Vietnam War, Simon used his intelligence with his hedge fund to analyze and interpret which trades would be beneficial for his firm. Receiving the Financial Engineer of the Year award from the International Association of Financial Engineers, Simon comes in at number 5 on our list.
4. John Paulson – Net Worth: 13.5 Billion
The second member on our list of the richest stock traders is John Paulson. From Queens New York, Paulson is the head of his hedge fund, Paulson & Co. and has made a name for himself in the investment management industry. His early career in investment management began in Massachusetts, at the Boston Consulting Group in 1980. Seeing some early success there and wanting to work at Wall Street, he set up his very own hedge fund in 1994. He really came into the spotlight with one of the biggest investments ever made. Paulson saw the housing market collapse coming, and bet against subprime mortgage securities through credit default swaps. This single trade alone made him about 4 billion dollars, giving him a number 4 spot on our list (oh yeah, and a lot of money too).
3. Ray Dalio – Net Worth: 15.2 Billion
Appearing in Time Magazine’s “Most Influential People of the World” in 2012, American businessman Ray Dalio is number 3 on our list. Sitting in charge of the worlds largest hedge fund with around $150 billion in assets, it’s no mystery why we included Ray. Like Paulson, Dalio is also from Queens, New York. At just 12 years old Dalio made his very first investment with Northeast Airlines when he bought shares for $300 dollars, and then tripled his return on investment. He went on to attend Long Island University for his undergraduate degree, eventually attending Harvard for his MBA. Dalio even predicted the worldwide financial collapse that brought about the worst recession since The Great Depression. It is very evident that Ray Dalio is extremely intelligent and wealthy and that is why he has earned a place on our list.
2. Carl Ichan – Net Worth: 24.5 Billion
Going with the trend of billionaires from Queens, Carl Icahn comes in at number 2 on our list. Majority shareholder and founder of Icahn Enterprises L.P., a diversified holding firm, 78 year old Carl Icahn is one of the wealthiest traders of all time (and one of the oldest). Studying philosophy and Princeton University and going on to attend medical school, only to drop out to join the army, it’s a surprise that Ichan was so successful with financials. Ichan then went on to become a stockbroker on Wall Street in the early 60’s which eventually lead to him opening Icahn Enterprises during the latter part of the decade. Known for his aggressive business deals and hostile takeovers, Ichan gained some notoriety in the financial world, but that’s all part of this industry.
1. George Soros – Net Worth: 26.5 Billion
Hungarian born George Soros comes in at number 1 on our list with an impressive net worth of $26.5 billion. Having a difficult upbringing in Hungary and surviving many Soviet and German engagements during WWII, Soros emigrated to Great Britain to attend the London School of Economics. He later went on and moved to New York City where he became a stock trader. Soros has always given large sums of money to charities and has created many scholarships for prospective students in underdeveloped nations. Soros gained financial fame when in 1992 he profited greatly from “Black Wednesday” where the British government was forced to retract the English pound from the European Exchange Rate Mechanism as the government could not get the pound above its limit that was designated by the ERM, netting Soros around £1 billion from short selling the pound. His financial success and philanthropic efforts place him at number 1 on our list.
Photo by Ryan Pierse
