Seasoned financial journalist Charles Payne provides insightful but sometimes questionable market tips on his show “Making Money with Charles Payne”. Previously, he was a Wall Street analyst who founded the Wall Street Strategies research firm. Charles Payne has a net worth of $12 million and makes $4 million per year as a host on the Fox Business Network.
Early Life
Hailing from South Jersey, Charles was born on November 15, 1960. Growing up he always wanted to work in finance. However, before starting he joined the United States Air Force at 17 years old.
Young Charles was stationed in Minot, North Dakota as a security policeman. While serving, Payne enrolled at Minot State University and later attended Central Texas College.
Finance Career
Once he graduated and completed his service in 1985, Charles worked for the stock brokerage firm EF Hutton on Wall Street. Payne was an analyst for six years and left in 1991 to launch his own business.
He founded a stock market research firm called Wall Street Strategies. The New Jersey native served as the CEO and started the Common Sense Newsletter on wstreet.com. Unfortunately, the company got into trouble with the SEC in 1999.
Charles was accused of advising clients to buy members’ stock on eight occasions without appropriate disclosures. Without admitting or denying the claims he paid a $25,000 penalty to settle the case. Years later, he boldly returned to the media industry.
Financial Journalism
Payne appeared a few times on the C-SPAN television network. In 2007, he published his debut book, “Be Smart, Act Fast, Get Rich.” and started contributing to the Fox Business Network.
It took seven years on the channel for Payne to get his own program, “Making Money with Charles Payne.” According to ustvdb.com, the show is watched by 163,000 people and shares investment insights based on the market movements. Typically, he prefers to discuss undervalued stocks with long-term growth potential.
However, the show was notorious for the host’s misleading statements. Despite this, Payne became a recurring personality on Fox Business shows, including Cavuto on Business, Varney & Co, and Bulls and Bears.
Net Worth and Earnings
Payne has an annual salary of $4 million from the Fox Business Network. That’s a considerable figure, as the likes of Jim Cramer earns $5 million per year. There’s also the income from book sales and a stock market newsletter.
Wstreet.com offers member services and educational tools to guide them through the market. Although he hasn’t revealed how much money the website makes, it’s presumably a small factor in Payne’s $12 million fortune.
Personal Life
Charles is married to a writer named Yvonne Ammirati Payne and they’ve been together since 2004. Through their marriage, Charles adopted Austin, Yvonne’s son from a previous relationship. The couple had a biological child named Cael and the family now resides in Teaneck, New Jersey.
