Jim Cramer Biography
Jim Cramer is a renowned American television personality and host of Mad Money on CNBC featuring lively guest interviews, viewer calls, and majorly, the unmatched, fiery opinions of Jim himself. He acts as the viewer’s personal guide through the confusing jungle of Wall Street investing, cruising through both opportunities and pitfalls with one goal in mind, to help them make money.
He also worked as a fund manager as well as an author and co-founder of TheStreet.com. Cramer is also co-anchor of the 9 a.m. ET hour of CNBC’s “Squawk on the Street” (M-F, 9 AM-11 AM ET) and the founder of TheStreet, a multimedia provider of financial commentary.
Crammer attended Springfield Township High School in Montgomery County, Pennsylvania. Later, Cramer joined Harvard University, where he earned a Bachelor’s degree in government, in 1977, graduating Magma Cum Laude. Moreover, in 1984, Jim attained a Juris Doctor degree from Harvard Law School.
Jim Cramer Age
How old is Jim Cramer? Cramer is 68 years old as of 2023. He was born on February 10, 1955, in Wyndmoor, Pennsylvania, the United States of America. In addition, he celebrates his birthday on February 10, every year.
Jim Cramer Family
Cramer was born to his Jewish parents N. Ken Cramer and Louise A. Cramer. His father owned International Packaging Products, a company based in Philadelphia. The company sold wrapping paper, bags, and boxes to retailers and restaurants. Furthermore, his mother was an artist. However, details about him having any siblings is currently not available.
Jim Cramer Wife
Previously, Jim married Karen Backfisch, from 1988-2009. They have 2 children. However, on April 18, 2015, Cramer went ahead and married Lisa Cadette Detwiler, a real estate broker, and general manager of The Longshoreman, an Italian bistro/restaurant in the borough of Brooklyn in New York City.
Crammer lives in Summit, New Jersey. He also owns a 65-acre estate in the New Jersey countryside as well as a summer house in Quogue, New York, on Long Island.
Furthermore, in 2009, Jim and four other investors bought the DeBary Inn in Summit, New Jersey. Also, Cramer and his wife own Bar San Miguel, a restaurant and bar serving Mexican cuisine, in Carroll Gardens, Brooklyn.
Jim Crammer Career
Crammer started his first job back in 1971, he sold Coca-Cola and, ice cream at Veterans Stadium during Philadelphia Phillies games. He first started studying stocks in the fourth grade and continued the habit through high school.
After college, Jim worked as an entry-level reporter, making $15,000 p.a. On March 1, 1978, he worked for the Tallahassee Democrat in Tallahassee, Florida, he was among the first people to cover the Ted Bundy murders since he lived nearby. Richard Oppel, the then-executive editor, said “Cramer was like a driving ram. He was great at getting the story.”
He subsequently served for the Los Angeles Herald-Examiner writing obituaries. Unfortunately, during this time, his apartment was robbed and he lost everything, forcing him to live out of his car for 9 months. In addition, Crammer worked for Governor of California Jerry Brown. He was one of the first reporters at American Lawyer.
Crammer received a Juris Doctor degree from Harvard Law School in 1984. As well, he started investing in the stock market while he attended law school. He earned enough to pay for tuition. Furthermore, he started promoting his holdings by leaving stock picks on his answering machine. While at Harvard University, alumnus Michael Kinsley introduced him to The New Republic owner Martin Peretz, who contacted Jim to write a book review.
After initially profiting from the stock picks he heard on Jim’s answering machine, Peretz gave Cramer $500,000 to invest. In two years’ time, Jim generated $150,000 for Martin. During his time at Harvard Law School, he also worked as a research assistant for Alan Dershowitz. Besides, he helped Dershowitz’s campaign to discharge alleged murderer Claus von Bülow in spite of the fact that Jim believed von Bülow was ultimately guilty.
In 1984, Crammer was a stockbroker at Goldman Sachs, working on sales and trading. Furthermore, in 1985, he was admitted to the New York State Bar Association, which he did not practice. On April 2, 2009, his license to practice law was suspended for failure to pay the registration fee.
Cramer left Goldman Sachs in 1987 and began a hedge fund, Cramer & Co. (later on, Cramer, Berkowitz & Co.). The fund ran out of the offices of Michael Steinhardt. Early investors included friend and classmate Eliot Spitzer, Martin Peretz, and Steve Brill. Jim raised $450 million in $5 million increments and received a fee of 20% of the profits he made.
Jim claims to have sold all of his stocks on the Friday before Black Monday in 1987. From 1988 to 2000, Jim claims to have had only one year of negative returns in 1998, a year when the S&P 500 Index rose 29%. The low performance in 1998 led to significant investor withdrawals. Moreover, in 1999, the fund returned 47% and in 2000, it returned 28%, beating the S&P 500 Index by 38% points. Jim also claims to have produced a 24% average annual return over 14 years and “routinely [taken] home $10 million a year and more,” though his results have been disputed.
In addition, Cramer retired in 2001 from managing the hedge fund. His former partner, Jeff Berkowitz took over.
Jim was also an editor at large for SmartMoney magazine. However, he was accused of unethical practices, after making a $2 million personal gain, after buying stocks just before publishing his recommendation article.
Jim and Peretz launched TheStreet.com in 1996, a financial news and literacy website. He remains to be the company’s most remarkable commentator, he also provides transaction information for his Action Alerts PLUS Portfolio, a charitable trust, for paid subscribers of the website.
Other Media Appearances
Cramer was a host of a one-hour radio show, Jim Cramer’s Real Money, until December 2006, which generated Mad Money.
Moreover, Crammer appeared as himself in two episodes of Arrested Development. He said that he upgraded Bluth Company stock to a “Don’t Buy” from a “Triple Sell,” and that the stock was not a “Don’t Buy” anymore, but a “Risky.”
He also appeared on Today, NBC Nightly News, Cheap Seats, Live with Regis and Kelly, Late Show with David Letterman, Late Night with Conan O’Brien, The Tonight Show with Jay Leno, Jimmy Kimmel Live! , and he was interviewed by Jon Stewart on The Daily Show in March 2009.
Additionally, Jim appeared in the 2008 motion picture Iron Man, spoofing Stark Industries on his show Mad Money, as well, he appeared in the movie Wall Street: Money Never Sleeps. Jim also claims to have consulted for the original Wall Street movie by telling the filmmakers how he will get through to Gordon Gekko.
Jim Cramer CNBC Mad Money
Cramer believes there is always a bull market somewhere, and he wants to help you in finding it. He is the host of CNBC’s Mad Money, (M-F, 6 PM ET) where he features live guest interviews, calls from viewers, and mostly, the unmatched, fiery opinions of Cramer himself.
In addition, Cramer also serves as the viewer’s personal guide through the confusing jungle of Wall Street investing, where he navigates through both opportunities and pitfalls with one goal in mind, to help them make money.
Jim Cramer Salary
Cramer earns a salary of $5 million annually, from his various jobs at CNBC.
Jim Cramer Net Worth
Crammer has an estimated net worth of $ 100 million. His income is mainly attributed to his successful career as a reality television personality.