“How much can I make as a trader”?
This is one of the first questions that many people ask me followed by ” How long will it take”? Each person is unique in their goals. Some traders want to make millions while others want to better their financial situation and enjoy the flexibility of stock trading. No matter the path a career in finance has unlimited possibilities. Some of the top traders in our industry are among the richest individuals in the world. Below is a list of the wealthiest traders in the world.
Net worth: $20 billion
This dude is still rollin deep at 77 with 20 billion in net worth. Icahn began his career on Wall Street as a stockbroker in 1961 and in 1968 he formed Icahn & Co. He pulled a Gordon Gekko hostile takeover on TWA in 1985 and established himself as corporate raider. Ichan is most remembered recently for getting into a billionaire bitch fest with hedge fund trader Bill Ackman over Herbalife on CNBC. Some dudes just know how to roll.
Net worth: $19 billion
George is also a spring chicken at 83 years old. It shows you that you are never to old to make bank. The hedge fund legend is chairman of Soros Fund Management. This guy once took a cool $1 billion profit in a single day during the 1992 Black Wednesday UK currency crisis and almost single handily bankrupted the Bank of England. He started his career as a trader for F. M. Maye and started his own firm Soros Fund Management in 1970. Not just a shrewd businessman George has given over 8 Billion dollars to charity.
Net worth: $12 billion
Ray is the lord and leader of Bridgewater Associates, the firm he founded in his Manhattan apartment in 1975. Ray actually began investing at the ripe old age of age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company! Now at age 63 Ray’s Bridgewater Associates is the world’s biggest hedge fund firm, which has about $140 billion in assets under management
Net worth: $11 billion
In 1982, Simons founded Renaissance Technologies, a private hedge fund investment company based in New York with over $15 billion under management. Simons retired at the end of 2009 as CEO of one of the world’s most successful hedge fund companies. Known as the “Quant King” for designing mathematical models to analyze and execute trades. Renaissance uses computer-based models to predict price changes in easily-traded financial instruments. These models are based on analyzing as much data as can be gathered, then looking for non-random movements to make predictions.
Net worth: $11 billion
He is the young pup on this list at only 58 years old. Paulson who is best know for pulling off the greatest trade ever six years ago by betting against subprime mortgage securities. Its estimated Paulson earned over 4 Billion on that trade alone and went from no name adviser to legend. Times have changed though for Paulson his fund ended 2012 down more than 14%, its second straight year in the red and his assets under management have fallen from 36 billion to 18 billion. Lesson, even legends have some bad trades here and there.
The individuals on this list are some of the richest in the word and demonstrate the true unlimited earning potential of a stock trader. Of course they are all fund managers and not retail traders like we are and they definitely are the elite of the elite. Even though most of us will never come close to earning a shade of what they do there are many traders, and traders I know personally, who earn incomes of 250,000 to over 1 million dollars each year and they do this right from the luxury of their homes. These are just regular people who came from careers like school teachers, restaurant workers,construction workers and office assistants. Many of these people have no degrees from fancy universities and many of them never had any financial investing or trading experience prior to starting their careers. What they did have though is will. They had the will to take whatever drastic steps necessary to succeed, In truth that is all it takes.