Jim Cramer is a financial expert and the anchor of the CNBC financial television program “Mad Money.” He began his career as a journalist, covering a succession of high-profile murders in Florida. He is a former hedge fund manager. He went to Harvard to study law after struggling to make a career as a reporter. His interest in money continued to grow during his time at Harvard, and he began investing in the stock market. He briefly explored a career in law after receiving his degree, but left to pursue a career in finance. He created Cramer & Co., a hedge fund, after working for Goldman Sachs for a few years. He co-founded TheStreet.com, Inc. with Martin Peretz, the editor of ‘The New Republic,’ where he acts as a market commentator and consultant. In 2005, he was asked to anchor a finance show on the CNBC channel called “Mad Money.” The show focuses on publicly traded stock investment and speculation, with Cramer recommending one or more stocks based on a set of criteria. He has also been on NBC Nightly News, The Daily Show with Jon Stewart, and The Tonight Show with Jay Leno, among others. In addition, he is the author of other finance books.
Childhood and Adolescence
He grew up in a Jewish family in a Philadelphia suburb. He went to Montgomery County’s Springfield Township High School. He attended Harvard College and received a B.A. magna cum laude. He was interested in journalism and eventually rose through the ranks of ‘The Harvard Crimson,’ eventually becoming its president.
Career of Jim
After graduating from college, he worked in a variety of entry-level reporting jobs. He covered high-profile serial murder stories—the Ted Bundy killings—for the ‘Tallahassee Democrat,’ for which he got great notice. He was also one of the earliest reporters at ‘American Lawyer’ and briefly worked for the ‘Los Angeles Herald-Examiner.’ He decided to pursue a law degree at Harvard Law School. As a research assistant, he worked alongside Alan Dershowitz. He received his diploma in 1984. During his time in law school, he developed an interest in finance and began trading stocks. With his stock market understanding, he assisted Martin Peretz, the publisher of ‘The New Republic,’ in making a large profit on his stock investments.
He was given a job as a stockbroker in Goldman Sachs’ Securities Sales Department after working briefly at a legal company. He was in charge for three years. In 1987, he left Goldman Sachs to start his own hedge fund, Cramer & Co. His buddies Eliot Spitzer and Martin Peretz were among the first investors. In 1996, he co-founded The Street.com, Inc. with Martin Peretz. Financial news and services are available on the website. It has since expanded to include sister sites such as MainStreet.com, Stockpickr, and Bankingmyway.com. After 14 years of successful business at Cramer & Co., he retired in 2001. Cramer, Berkowitz & Co. was renamed after his former partner Berkowitz took over the company.
In 2005, he was named host of CNBC’s ‘Mad Money,’ a television show that focuses on financial investments and stock market speculation. The show aims to both entertain and educate viewers about the stock market. He hosted ‘Jim Cramer’s Real Money,’ a radio show that was similar to his TV show ‘Mad Money.’ The show aired from 2003 until 2006. In November 2005, he went on ’60 Minutes’ for an interview with Dan Rather in which he explored both his professional and personal lives. The interview also contained footage of his wife and daughters. He’s also the author of several finance books, such as ‘Jim Cramer’s Getting Back to Even’ and ‘Jim Cramer’s Mad Money: Watch TV, Get Rich.’ He has appeared as a guest on NBC’s Today, ‘Cheap Seats,’ ‘The Tonight Show with Jay Leno,’ and ‘Jimmy Kimmel Live!’ among others.
Major Projects of Jim
One of his most notable accomplishments is TheStreet.com, Inc., a website he co-founded with Martin Peretz. The company developed to include subscription investor services, banking services, mobile applications, and a charitable trust portfolio after the website first provided financial news and services. He is most known for hosting the show ‘Mad Money,’ which he has hosted since 2005. On the show, he gives stock choices and investing advice, as well as taking calls from fans about the stocks.
Personal History and Legacy
He married Karen Backfisch, a trader who worked for Michael Steinhardt’s hedge firm. They divorced in 2009 after having two daughters. He has been accused of market manipulation and fraud on numerous occasions. He also got some bad press for his comments over President Obama’s budget plans.
Estimated Net Worth
Jim Cramer has a net worth of $150 million USD and is an American television personality, best-selling book, and former hedge fund manager. He is most known for hosting CNBC’s “Mad Money” and for co-founding and serving as chairman of TheStreet.com. Jim Cramer gets paid $5 million each year for his numerous responsibilities at CNBC. He also makes a lot of money off of book royalties and advances.
Trivia
In 1985, he was accepted to the New York bar, but was later suspended.
In the 2008 film ‘Iron Man,’ he made a cameo appearance.