Jim Cramer Net Worth
|$5 Million Per Year
|James Joseph Cramer
|Date of Birth:
|10th February 1955
|69 years old
|5 ft 5 in (1.65 m)
|Investor, Journalist, Businessman, Lawyer, Author, TV Personality, Commentator
|29th June 2023
Jim Cramer is a household name. He’s known for his time spent being a television personality, hedge-fund manager, and author. He was the host of the hit television show Mad Money and for being a co-founder of thestreet.com. Just how much is Jim Cramer worth, though?
Jim Cramer Net Worth
Jim Cramer’s net worth is an astounding $150 million. He plays various roles at CNBC and earns money from book royalties and other business ventures. Jim Cramer earns $5 million from CNBC per year.
Early Life Jim Cramer
Jim Cramer, born James Joseph Cramer, was born on February 10, 1995, in Wyndmoor, Pennsylvania. His mother, Louise Cramer, was an artist. His father, Ken Cramer, was the owner of International Packaging Products. The Jewish family was not particularly well-off, but they weren’t exceptionally poor, either.
One of his first jobs was selling Coca-Cola and ice cream at Veteran’s Stadium during Philadelphia Phillies games in the 70s.
After graduating from Springfield Township High School, James Cramer attended Harvard to study government. While there, he was very involved in the publication The Harvard Crimson.
He then began a job in Tallahassee, Florida as a reporter for the Tallahassee Democrat publication. He was one of the first people to cover the Ted Bundy murderers because he lived close to the house. He worked for other publications, such as the Los Angeles Herald Examiner, but then returned to Harvard Law School to study law. He invested in the stock market to cover his tuition bill and used the money he earned. He graduated again from Harvard in 1984.
Cramer was admitted to the New York State Bar Associate in 1985, but he did not practice law. Instead, he had already scored a job as a stockbroker at Goldman Sachs. His license for the law was suspended when he did not pay the reinstatement fees.
Hedge Fund Cramer Berkowitz
James Cramer left Goldman Sachs in 1987 to begin his own hedge fund, first known as Cramer & Co. He raised $450 million dollars and received a 20% profit from all of his profits. This started the massive Jim Cramer net worth. Early investors in the hedge fund included Eliot Spitzer, Martin Peretz, and Steve Brill. When he acquired partner Jeff Berkowitz, the company became known as Cramer, Berkowitz & Co.
He retired from the hedge fund in 2001, and his partner Jeff Berkowitz took over management. Jim Cramer claimed that he had one year of negative returns, but many have disputed those claims. However, the hedge fund wasn’t the only thing behind Jim Cramer’s net worth. The former hedge fund manager continued to pursue other ventures.
Jim Cramer was an editor at the magazine SmartMoney. He was accused of unethical practices during his time there. He made $2 million by buying stocks just before an article was published in which he recommended those stocks to other people. Because so many people bought the stocks, the stocks rose. However, Jim Cramer bought them before the price increase, helping him see massive gains.
This led to SmartMoney updating its ethical policy to ensure that the incident, which made headlines, didn’t happen again. Since the incident, Cramer has frequently found himself on the other side of SEC investigations, accused of short selling, accused of using his position to make money in the stock market, and at one point, he was suspended from CNBC. Jim Cramer claims it was not an intentional incident and that it is one he does not want to see happen again.
Cramer and Martin Peretz worked together to launch TheStreet.com in 1996. The website focused on financial news and financial literacy. They sold it to Maven for a whopping $16.5 million.
CNBC was a massive success for Cramer. He starred in his own television shows and had several guest appearances on other shows. It contributed significantly to Jim Cramer’s net worth. Some highlights of his work with CNBC include:
- Guest commentator on the network
- Had his own show, Kudlow & Cramer, with Larry Kudlow
- Jim Cramer was required to disclose his position on stocks that he recommends and holds to combat the accusations of unethical practices.
- He is prohibited from trading or buying any stocks he mentions on the show for five days to ensure ethical practices.
- Hosted a one-hour radio show called Jim Cramer’s Real Money, inspired by the show Jim Cramer’s Mad Money. Mad Money was also all about finances and investing.
Jim Cramer also earns quite a bit from royalty checks, which contributes to the Jim Cramer net worth. Some of the more popular books Cramer wrote include:
- Confessions Of A Street Addict
- You Got Screwed! Why Wall Street Tanked And How You Can Prosper
- Jim Cramer’s Real Money: Sane Investing In An Insane World
- Jim Cramer’s Get Rich Carefully
- Jim Cramer’s Stay Mad For Life: Get Rich, Stay Rich (Make Your Kids Even Richer)
His books focus on both financial literacy and investment advice. They are tools used by both those with experience and those just learning about how the stock market works.
Personal Life Cramer
James Cramer was married to Karen Backfisch from 1988-2009. Together, they had two children: Cece Cramer and Emma Cramer.
In April 2015, Jim Cramer tied the knot with real estate broker and restaurant manager Lisa Cadette Detwiler. She manages The Longshoreman, a restaurant in New York City.
Jim Cramer FAQs
What is Jim Cramer Net Worth?
Jim Cramer net worth is currently $150 million USD.
How much money does Jim Cramer earn?
Jim Cramer earns $5 million per year from various sources.
How tall is Jim Cramer?
Jim Cramer is 5 ft 5 in (1.65 m)
How old is Jim Cramer?
Jim Cramer is currently 69 years old.
When is Jim Cramer birthday?
Jim Cramer birthday is on 10th February.