With a remarkable resume of roles held both on and off Wall Street, Jim Cramer is a hedge fund manager turned television personality popularly known for hosting CNBC’s Mad Money. As of 2022, Jim Cramer has a net worth of $150 million.
Born on February 10, 1955, James Joseph Cramer grew up with Jewish parents in Wyndmoor, Pennsylvania. His mother, Louise, was an artist. Ken Cramer, his father, was the owner of International Packaging Products, a Philadelphia-based firm.
Jim started learning the mechanics of stocks in fourth grade and kept it up until high school. He attended Montgomery County’s Springfield Township High School.
He earned a Bachelor of Arts in government from Harvard in 1977, finishing magna cum laude. Later in his career, in 1984, he graduated from Harvard Law School with a Juris Doctorate.
Cramer worked as an entry-level journalist after graduation. He was a reporter for the Tallahassee Democrat in Florida and was one of the first to document the Ted Bundy killings.
He went on to write obituaries for the Los Angeles Herald-Examiner. James also served for California Governor Jerry Brown. He was one of American Lawyer’s earliest correspondents.
James was a research assistant for Alan Dershowitz in his time at Harvard Law School. To get funds for his tuition in law school, he started investing in stocks.
Rise to Prominence
He continued his career with sales and trading at Goldman Sachs in 1984. He left three years later to start his hedge fund, Cramer, Berkowitz, & Co. Over the course of 14 years, he boasts to have generated a 24% average yearly return.
Also, Cramer was an editor for SmartMoney magazine, and he made a $2 million profit after buying stocks moments before his recommended piece was published.
TheStreet.com, a financial information and investment newsletter, was founded by Cramer and Martin Peretz in 1996. Their centerpiece was their $3 million charitable trust, Action Alerts PLUS portfolio.
Jim Cramer and Larry Kudlow co-hosted the CNBC talk show Kudlow & Cramer from 2002 to 2005. Until December 2006, Cramer presented a one-hour radio program called Jim Cramer’s Real Money, which was the inspiration of his TV show. Mad Money initially aired in 2005.
The show’s declared objective is to equip those doing their own investing with the tools and knowledge they need to become better investors. Apart from Mad Money, Cramer is an anchor on CNBC’s Squawk on the Street.
Aside from investing and making media appearances, Jim is an author. He wrote numerous books about finance and investing. This includes Mad Money, Real Money, and Confessions of a Street Addict.
Cramer indicated that he had mental health problems related to his rage and job behavior. He attributed it to his experiences growing up with his father.
As for his love life, he has had two marriages in his life. His first wife was Karen Backfisch. They had two kids together. His current partner is a general manager and real estate broker named Lisa Cadette Detwiler.