Seasoned financial journalist Charles Payne is known for providing insightful but sometimes questionable market tips through his Fox Business show Making Money with Charles Payne. In the past, he was a Wall Street analyst who founded the Wall Street Strategies research firm. As of 2022, Charles Payne has a net worth of $12 million.
Early Life
Hailing from New York City, Charles was born on November 15, 1960. Not much is known about his early years, but he revealed that he always wanted to work in the finance industry as a kid.
However, this wasn’t his first career choice. At age 17, he became part of the United States Air Force. After officially enlisting, he was stationed in Minot, North Dakota, as a security policeman.
Payne was also pursuing education while serving his country. During his first military assignment, he enrolled himself at Minot State University and later attended Central Texas College.
Finance Career
After graduating and completing his service in 1985, Charles was hired by the stock brokerage firm EF Hutton on Wall Street. He worked there as an analyst for about six years. In 1991, he left to launch his own business.
He founded a stock market research startup called Wall Street Strategies. The New Jersey native became its CEO and primary financial analyst. He started the Common Sense Newsletter on the firm’s website, wstreet.com.
Unfortunately, the company got in 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 came back to the public eye by joining the media.
Financial Journalism
Payne made a number of appearances on the C-SPAN television network. In 2007, he published his debut book, “Be Smart, Act Fast, Get Rich.” The same year, he started contributing to the Fox Business Network.
After seven years on the channel, the former Wall Street analyst was given his own program, “Making Money with Charles Payne.” The show provides investment insights based on the latest market movements and trends. He has also interviewed many big personalities on his show such as David Portnoy and Richard Heart.
However, it became notorious for many of the host’s misleading statements. Despite this, Payne still became a recurring television personality on many 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, but it’s not his sole income source. There’s also his book and website.
Aside from a monthly newsletter, wstreet.com also offers member services and educational tools. Though he hasn’t revealed how much money the website makes, it’s presumably a small factor in Payne’s $12 million net worth.
Personal Life
Charles is married to a writer named Yvonne Ammirati Payne. They’ve been together since 2004. Through their marriage, Charles adopted Austin, Yvonne’s son from a previous relationship. They also had a biological child named Cael. The family currently resides in Teaneck, New Jersey.
