Life in the early years
The family was born to Wyndmoor (a neighborhood within Philadelphia), Pennsylvania, on the 10th of February 1955 and belonging to an Jewish family. James J. Cramer is the son of Ken and Louise Cramer. His father ran an International Packaging Products business, and his mother was an artist.
Jim was a student at Springfield Township High School, and then went on to Harvard College to study government. Jim graduated from Harvard in 1977 with the title Magna cum laude, with an Master of Arts degree.
While attending Harvard, Jim served as the President and Editor-in Chief at The Harvard Crimson publication. Jim returned back to Harvard Business School, graduating in 1984. While he was pursuing legal studies in law school at Harvard, Jim would invest in the stock market to pay for the cost of his education.
What did Jim Cramer do to earn his wealth?
When Jim obtained admission for the New York Bar, he did not practice law. Jim began his career in finance at Goldman Sachs, leaving the firm to establish his own practice, Cramer & Co. Cramer managed his hedge fund between 1987 until 2001. The firm was able to manage $450 million of assets under management at the time of his tenure.
Cramer’s investment would yield the average rate of 24 percent with Cramer declaring the fact that his wealth was between $50 and $100 million range by the year 2005. The website he runs, TheStreet.com, went public in 199 during the height of the dot-com bubble. The company would reach an investment of $1.7 billion following its IPO.
In this estimation Cramer’s stake in the company was valued at $225 million. But the dot-com bubble burst and Cramer’s worth dropped off a cliff due to the decline in the price of shares. The stake he holds of the business is about $15 million.
Cramer was also Editor-at-Large at SmartMoney magazine. However, he faced controversy after a company that he advised his readers went up in value to $2 million, netting him the sum. In the aftermath, there were questions about Jim’s morality.
Cramer was eventually offered a spot as a commentator for CNBC shows in the latter part of the 90s and into the early 2000s. He was able to get a show “Kudlow & Cramer” in 2002, and then began his present series, “Mad Money with jim cramer net worth” in 2005. The show is broadcast on CNBC.
Jim Cramer’s productivity patterns as well as personal strength
Jim says his success is due on the strength of his character. He claimed he wanted to become a lawyer however, finance was more attractive to him as the education he received. Jim says he enjoys speaking about markets and his love for finance makes it easy for him to work.