This Is The Source Of Jim Cramer Net Worth You Should Know

Jim Cramer, an American television personality, best-selling author, and former hedge fund manager, boasts a net worth of $150 million.

He gained renown as the host of CNBC’s “Mad Money” and co-founder and chairman of TheStreet.com.

Cramer commands an annual salary of $5 million for his roles at CNBC, supplemented by substantial income from book royalties and advances.

Jim Cramer Net Worth
Jim Cramer Net Worth

From 1987 to 2001, Cramer managed the hedge fund Cramer Berkowitz, peaking at $450 million in assets under management and averaging a 24% annual return.

In 2005, he disclosed a net worth ranging from $50 to $100 million.

During the dotcom bubble’s apex, Cramer’s net worth soared, primarily due to his 15% stake in TheStreet.com.

After the company went public in 1999 with a $1.7 billion market cap, Cramer’s stake was valued at $255 million.

However, by 2005, amidst the dotcom crash, it had dwindled to approximately $15 million.

An infographic on Jim Cramer Net Worth

Early Life and Career Beginnings

Born in Wyndmoor, Pennsylvania, on February 10, 1955, to a Jewish family, Cramer’s early jobs included vending Coca-Cola and ice cream at Phillies baseball games.

He pursued education at Harvard College, graduating magna cum laude with a Bachelor of Arts degree in government in 1977.

At Harvard, he served as President and Editor-in-Chief of The Harvard Crimson.

Following college, Cramer worked as a reporter at the Tallahassee Democrat, covering the Ted Bundy murders.

He later contributed to publications like the Los Angeles Herald-Examiner and American Lawyer and served under Governor Jerry Brown in California.

Returning to Harvard for law school, he financed his education through stock market investments.

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Goldman Sachs

Following his graduation from Harvard Law in 1984, Cramer secured a job as a stockbroker at Goldman Sachs.

Although he was admitted to the New York State Bar Association in 1985, he chose not to practice law.

However, his failure to pay the registration fee led to the eventual suspension of his license to practice law in New York in 2009.

Cramer, Berkowitz & Co

In 1987, Cramer departed from his position at Goldman Sachs to establish his own hedge fund, Cramer & Co. (later rebranded as Cramer, Berkowitz & Co.).

He succeeded in raising $450 million in $5 million increments, earning a fee of 20% of the profits he generated.

Notable early investors in his hedge fund include Steve Brill, Eliot Spitzer, and Martin Peretz.

He retired from the hedge fund in 2001, and it was assumed by his former partner, Jeff Berkowitz.

Cramer claims to have had only one year of negative returns, in 1998, from 1988 to 2000, and asserts that over 14 years, he achieved a 24% average annual return.

However, some of his results and claims have been disputed.

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Smart Money Magazine and TheStreet.com

Among other projects, Cramer served as the “editor at large” at SmartMoney magazine.

Accusations of unethical practices arose during his tenure. He personally gained $2 million.

He purchased stocks just before an article was published. The article contained his recommendations.

In 1996, Cramer and Martin Peretz collaborated. They launched TheStreet.com, a financial news and literacy website.

The website sold to The Maven for $16.5 million in 2019.

CNBC

During the late 1990s, Cramer frequently appeared as a guest commentator on CNBC.

He eventually hosted his own show, “Kudlow & Cramer,” with Larry Kudlow, which aired from 2002 to 2005.

He then transitioned to “Mad Money with Jim Cramer,” which debuted on CNBC in 2005.

The show aims to provide viewers with tools and knowledge to improve their investing skills.

As part of the show’s conditions, Cramer must disclose any positions he holds in stocks discussed and refrain from trading in them for five days after each broadcast.

The inspiration for “Mad Money” came from his one-hour radio show, “Jim Cramer’s Real Money,” which concluded in December 2006.

Books

Cramer authored and published several books, including “Confessions of a Street Addict” (2002), “You Got Screwed!

Why Wall Street Tanked and How You Can Prosper” (2002), “Jim Cramer’s Real Money: Sane Investing in an Insane World” (2005),

“Jim Cramer’s Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)” (2007), “Jim Cramer’s Getting Back to Even” (2009), and “Jim Cramer’s Get Rich Carefully” (2013).

Personal Life

In his personal life, Cramer married Karen Backfisch from 1988 to 2009, and they have two children together.

He subsequently married Lisa Cadette Detwiler, a real estate broker and general manager of The Longshoreman restaurant in New York City, in April 2015.

Some of the properties he possesses include the DeBary Inn in Summit, New Jersey, which he acquired along with four other investors in 2009;

And the Bar San Miguel, a restaurant and bar in Carroll Gardens, Brooklyn, that he co-owns with his wife.

He resides in Summit, New Jersey, and also holds private residential properties in Quogue, New York, on Long Island, as well as a 65-acre estate in the countryside of New Jersey.

Cramer is a noted long-time supporter of the Philadelphia Eagles NFL team and has held season tickets for over 20 years.

Real Estate

Regarding real estate, in 1999, Jim and Karen purchased a 100+ year old home on 1.33 acres in Summit, New Jersey, for $2.375 million.

As part of their divorce settlement, Jim transferred ownership of the house to Karen for $1.

Karen sold the house in April 2019 for $3.675 million.

In 2008, Jim bought a different home in Summit, New Jersey, for $4.7 million.

He also possesses a 65-acre estate elsewhere in New Jersey.

How much is Jim Cramer Net Worth?

Jim Cramer, an American television personality, best-selling author, and former hedge fund manager, boasts a net worth of $150 million.

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