Jim Cramer, a CNBC anchor is best known for his show Mad Money airing on CNBC since 2005. 63-year-old Jim beside being an American television personality, former hedge fund manager, and best-selling author is also the co-founder of TheStreet, Inc.
Cramer is a veteran in stock markets and with his experience as a former hedge fund manager, he has accumulated million dollars. Currently, he is estimated to have a net worth of $100 million. How he made his million dollars fortune? We have all the details about his earnings, career, and net worth.
Born to mother Louise A. Cramer, an artist and father, N. Ken Crame, the owner of International Packaging Products in Philadelphia, he is a graduate in Juris Doctor degree from Harvard Law School.
Having worked in the Tallahassee Democrat, a Daily Newspaper in Tallahassee, Florida, he started investing in the stock market during his time at law school. As reported, Cramer made $150,000 for The New Republic owner Martin Peretz with the given $50,000 to invest.
In 1984, Jim worked as a stockbroker with Goldman Sachs' Private Wealth Management and later he founded his own hedge fund Cramer & Co. (later Cramer, Berkowitz & Co.), in 1987. Working in the hedge fund from 1988 to 2000, Jim allegedly earned about $10 million a year.
As reported, Jim had only one-year negative result in the hedge fund, i.e. in 1998 followed by 47% and 28% returns in 1999 and 2000.
Jim Cramer, the co-founder of The Street Inc. (founded in 1996) owns 10% stake in the company which worked as a strong base in the million dollars blessing to his net worth.
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Back in the 1990s, The Street Inc. peaked with the market value of $1.7 billion but came to worth $80 million by 2014. As reported, in 2009, Cramer reportedly received the earnings of $461,276 from The Street, Inc.
Besides being a business entrepreneur, he is also a writer of the books like Getting Back to Even, Get Rich Carefully, and Get Rich, Stay Rich (Make Your Kids Even Richer).
In 2005, Jim Cramer claimed himself worth above $50 million while his net worth as of 2018 is estimated to be $100 million.
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In 2005, the American entrepreneur made his way to TV business and started hosting the finance show Mad Money that began airing on CNBC on March 14, 2005. The 60 minutes show focused on the investment and speculation, particularly in publicly traded stocks.
Also, Jim Cramer co-hosted CNBC shows America Now and Kudlow & Cramer with Lawrence Kudlow in the early 2000s. His notable appearance in the shows not only earned him huge fame but also a handsome sum of money.
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Though the salary of Jim Cramer from the show Mad Money is yet to be disclosed, he is assumed to earn hundreds of thousand dollars.
As for a fact, the average salary of TV host ranges from $30,000 to $121,000 as per the Bureau of Labor Statistics (BLS) while the highest paid hosts like Mike Myers (The Gong Show), Jamie Foxx (Beat Shazam), and Alec Baldwin (Match Game) each earn $3 million annually.
As reported, Jim Cramer lives in his house in Summit, New Jersey with his second wife Lisa Detwiler (married on April 18, 2015). His wife is a real estate broker. Cramer was first married to Karen Backfisch-Olufsen with whom he has 2 children: Cece Cramer and Emma Cramer.
Well, the worth of his house is undisclosed, but allegedly he bought the mansion for million dollars in 2009.
Talking about cars, Cramer is reported to have an impressive car collection which includes Audi, Tesla Model S, Mustang Ford, and many others. Some sources claim the worth of his car collection to be $500,000.