Who is Jim Cramer?
Take this time to get all the relevant tips you need to know about Jim Cramer;
- Jim Cramer Twitter
- Jim Cramer’s net worth
- Jim Cramer mad money
- Jim Cramer wife
- Jim Cramer investment club
- Jim Cramer stock
Jim Cramer is an American TV personality and author. Also, he is the host of “Mad Money” on CNBC and was a former hedge fund manager. On the other hand, he is a stock and financial guru and an anchor on Squawk on the Street. He is a graduate of Harvard University and has previously served as editor-in-chief of the student newspaper. Keep reading to learn more about Jim Cramer.
Personal Life
Jim Cramer is born on the 10th of February 1955 to Louise and Ken in Wyndmoor, Pennsylvania. He was previously married to Karen Backfisch, a former stock market trader from 1988-2009. They have two lovely daughters. He later remarried Lisa Cadette Detwiler, a restaurateur and real estate agent in the year 2015.
Cramer’s primary residence is beside New York City in Summit, New Jersey. However, in 2021, he got a new home in Quakertown in his native state of Pennsylvania. He goes there sometimes to spend holidays or on special occasions.
Jim Cramer’s Career
Jim graduated from Harvard University in 1977 after he served as editor-in-chief of the Harvard Crimson. He started a career in journalism and worked at the Tallahassee Democrat and the Los Angeles Herald Examiner. He assists Steve Bill to discover the publication American Lawyer before he returned to attend law school at Harvard.
The 67 years old journalist made his first dollar when he was little from selling Coca-Cola and ice cream at veterans stadium at Philadelphia Phillies games. As a graduate, he was interested in the stock market and decides to pursue it. He relocates to New York to take a job with Goldman Sachs. He wrote a book about stocks for The New Republic while still working for Goldman.
Cramer created his hedge fund Cramer, Berkowitz & Co. Also, he formed plenty of success but choose to retire from active trading in 2001 and went back to journalism and commentary full-time. He started his show “Mad Money” on CNBC in 2005. This increased his influence and fame. Presently, he serves as the co-anchor of the Squawk on the Street, a morning show.
How Jim Cramer does get His Money and what is His Net Worth?
According to Celebrity Net Worth, Jim Cramer’s net worth is $150 million. These include a built-up wealth while he was still the manager of the hedge fund Cramer Berkowitz. Also, the money he made when leaving the 2001 fund when he started a full-time job as a famous author, TV personality, and CNBC commentator.
Cramer books
Cramer has written several books which include: “Confessions of a Street Addict,” “Jim Cramer’s Real Money: Sane Investing in an Insane World,” “Jim Cramer’s Mad Money: Watch TV, Get Rich” and “Jim Cramer’s Get Rich Carefully. Also, he has written You Got Screwed, how you can prosper, and Stay Mad for Life.
Jim earns a yearly salary of $5 million for his work at CNBC. Also, he presently earns money from his books and takes in between $30,000 and $50,000 per speech. When Cramer was operating his hedge fund, Cramer and Berkowitz, he had an increased rate return of 24% for a space of 14 years besides all fees.
In 1996, Cramer was the co-founder of a finance website with Martin Peretz, the former owner of The New Republic. His contract with CNBC hinders him from having any stocks in his personal portfolio save for The Street, General Electric, and Comcast, the former owner and present owner of CNBC. He later sold The Street.com to TheMaven in 2019 for $16.5 million.
Jim Cramer Controversies
Jim Cramer is both a celebrated and controversial figure to the American public. He was accused of getting involved in market manipulation in 1995 when he wrote about the smaller companies he kept shares in. After the companies made a significant gain, he made a profit of about $2 million not up to a month.
Also, in March 2008 Cramer respond to a reader’s question on-air about the health of investment bank Bear Stearns. He responds this way: “No! No! No! Bear Stearns is not in trouble. If anything, there are more likely to be taken over. Don’t move your money from Bear.” His respond was not received well; by March 14 the stock dropped 92% and damaged selling to J.P. Morgan for $2 a share, even though it was traded at over $60 per share the previous week.
However, Cramer claim he was not referring to common stock. He was talking about brokerage accounts. But the statement still got to The Daily Show where the host Jon Stewart made fun of Cramer and other financial experts.
Cramer’s prescience as a stock picker was questioned. An article was written by Barron spotting investors that consider Cramer’s recommendation, they would have obtained 12% over the space of two years compare to gaining 16% by S&P 500.
In addition, a MarketWatch article highlighted how Cramer’s action spot plus portfolio was failing the S&P 500 since it has been in existence in 2001 and has gotten worse since 2011. The year when S&P 500 was stable and the portfolio lost 11%.
Cramer Real Estate
In 1999, Cramer and his former wife, Karen brought a 100+ old house for $2.3 75 million on 1.33 acres in Summit, New Jersey. When they divorced, Cramer sold the house for $1 to Karen as part of their divorce settlement. Karen later sold the house for 3.675 Millions in April 2019.
Cramer brought another house in 2008 for $4.7 million in Summit, New Jersey. Also, he has a 65-acre farm in rural New Jersey and property in Quoque on long island
Jim Cramer’s Opinion on Alternative Assets
Jim is also interested in alternative assets, especially gold and cryptocurrencies. He has mentioned Bitcoin in some of his program. Likewise in 2021, he explained in a 3 minutes video how to approach Bitcoin when it gets to a high record.
He is a good investor in gold. In his interview with Morgan Creek co-founder Anthony Pompliano, Cramer explained he had significant amounts of gold, and called himself a gold bug.
FREQUENTLY ASKED QUESTIONS (FAQS)
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What Show Does Jim Cramer Host?
Jim Cramer is the host of CNBC’s “Mad Money” and also operates CNBC’s “Investing Club”.
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Is Jim Cramer Wealthy?
Jim Cramer’s net worth is $150 million as of 2022.
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Did Jim Cramer Go to Harvard?
Yes. Jim Cramer obtained his bachelor’s degree from Harvard University in 1977. Also, he served as editor-in-chief of the student newspaper, The Harvard Crimson, during his senior year. He later earned a J.D. at Harvard Law School in 1984
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How much does Jim Cramer make a year?
Jim Cramer earns over $30 Million dollars a year through Salary and Royalty Income
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How much money does Jim Cramer make from mad money?
$5 million
With a reported wealth of $150 million, Jim Cramer is one of the richest people in finance entertainment. He continues to host his show, “Jim Cramer’s Mad Money,” and he receives an annual $5 million salary for his role on the show.