Let’s talk a little bit about Jim Cramer. In brief, Jim is a former hedge fund manager, but he’s better known as a TV host, including the Mad Money show.
However, I personally learned about Jim Cramer as the creator of The Street and TheStreet.com, Inc.
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What is Jim Cramer net worth
Jim Cramer’s net worth is quite difficult to calculate since most of his net worth consists of various sources, and the companies in which he has a stake are private. However, as of November 2021, Jim Cramer’s net worth is estimated at $136 million.
Much of his fortune comes from his success as a hedge fund manager and investor, but an important role in his success has been played by The Street, Inc.
We can say with confidence that among the well-known personalities in the investment world, Jim Cramer has one of the most diversified portfolios. For example, he earns around $5 million per year for his work on CNBC.
Below you can see Jim Cramer’s estimated net worth chart (2000-2021). However, we can’t claim that our estimations are 100% correct.
Cramer had the highest net worth in 2000 when its 15% stake in The Street was worth about $258 million (for a total company capitalization of $1.7 billion). After the dot-com crash, however, Cramer’s net worth declined substantially.
The Jim Cramer’s education and career
Jim was born in 1955 in Pennsylvania to an entrepreneur and an artist. His father owned a company that sold retail packaging materials: boxes, bags, and wrapping paper.
Like many American children, in his youth, Cramer worked part-time at various grassroots jobs to earn a little money for small expenses.
Cramer then went to Harvard, where he became editor-in-chief of The Harvard Crimson, the student newspaper, and graduated (with honors) as a Bachelor of Arts in government in 1977.
After that, he continued his journey with Harvard Law School, where he graduated in 1984 with a Juris Doctor degree.
While studying in HLS, he began investing in stocks on regular basis and even began to promote his decisions to other investors. After a series of successful picks, he got a job as a stockbroker in Goldman Sachs.
The story of Jim Cramer’s success
In 1987 Cramer founded his own hedge fund company, Cramer & Co. Between 1987 and 2000 (while Cramer was running the company) the company had only one year of negative returns, so it was a complete success, that finally established Cramer as a world-leading investor.
The hedge fund had nearly half a billion dollars under management (about $460 million to be exact).
However, in 2001 Cramer decided to leave the hedge fund at the peak of its professional success, showing overall profitability of 24% between 1987 and 2000 and yielding about 10 million a year during that period.
Also, in 1996 he founded The Street, the website with advice about financial markets. The site was acquired by The Maven in 2019 for $16.5 million.
But what Jim Cramer is really well-known for is Mad Money on CNBC.
In brief, the main goal of the show was to explain to viewers the basics of how to think like real investors. The show was positioned as one that would teach you “how” to think, not “what” to think. The show was a phenomenal success (as for a financial-themed show) and has been growing in popularity for the past decade so that it has become one of the most popular investment-themed shows on television.
The success of Mad Money has made Cramer in demand on other shows, not always investment-related. For example, he was a guest on NBC’s The Tonight Show.
