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A ranking of the richest traders. What do we know about them?
Trading on financial markets attracts people not only through it’s interesting mode of operation and profiting, but also as an opportunity to become a successful and famous person. And, of course, every potential trader invariably assumes that it is they who can repeat the successes of the most famous players on the financial market. Today we present the most famous and wealthy traders who, thanks to their own talent and personal philosophies, have been able to achieve new levels of success. This material will reveal the main formative stages of these well-known investors as traders, as well as interesting details from their biographies.
And now, the undisputed leader of our list is the richest and most famous investor, Warren Buffett, who now ranks among the top five richest people in the world.
The investor’s wealth today has reached 100 billion dollars, but it all began with a minimum amount of investment and his own innate entrepreneurial talent. Warren Buffett was born in 1930, and the very fact that he was born into the family of a stockbroker predetermined the fate of this undoubtedly talented person. In early childhood, Warren demonstrated mathematical talent – the boy could easily solve complex calculations, which, according to many, became the key to his success in trading. Buffett earned his first money at a very young age doing simple operations with cans of Coca-Cola. He bought a pack of soda at wholesale price and then sold the empty cans for recycling! His first profit was only 5 cents, but this revealed Warren’s entrepreneurial talents. His next deal was a joint investment of money with his sister in shares of a utilities company – this was at the age of 11! Having bought only 2 shares of the enterprise, the novice investor was only able to earn a minimum of funds, but according to Buffett himself, this taught him a lot and helped him create his own investment philosophy, which consists of the simple expression “patience is a virtue.” The reason for this is that the shares bought by the investor for $38 each almost immediately fell to $27, which made the future leader of the world ranking of traders very nervous! Warren sold the shares when they reached the price of $40, but after some time they actually went up to $200! That’s how the investor learned his first lesson, which later brought him billions!
Today, Warren Buffett owns a stake in one of the largest investment funds, Berkshire Hathaway, which holds securities from such giants as Apple, Google, and Amazon. Owing to his work and successful investments, Buffett is called a “Seer” and an “Oracle” on the financial market. However, as the investor himself notes, almost all of his personal investments, especially at the initial stage of his career, were not entirely successful. He earned his fortune without predicting market fluctuations, but simply by clearly calculating his actions on the market and exercising patience. It is patience and the ability to curb his emotions during difficult moments that have made him a successful player on the financial market. At the age of 88, Buffett is an active trader and philanthropist – in particular, the investor is a signer of The Giving Pledge campaign, which means at least 50% of his fortune will be donated to charity. Despite his incredible fortune, the trader leads a rather modest way of life and does not spend much on luxury goods.
The second line of the ranking goes to a legendary personality on the financial market, George Soros. Despite the fact that this investor does not lead the Forbes listing, his fortune is at $24 billion, he is the most famous trader today. The main reason for this is not only his success on the market, but also his fairly wide-ranging work with charities. But let’s start with his biography.
George Soros (born Schwarz) was born in Budapest in 1936. His family was middle class and not at all involved in investment activities. During the difficult times of World War II, the family was forced to change their Jewish name of Schwarz to Soros. It is worth noting that interestingly the translation of the investor’s name from Hebrew means “foundation,” and from Hungarian “next in line or receiver.” This is surprising not only because of the use of these terms in trading, but also the fact that Soros is an ardent opponent of the notion of “market fundamentalism” – he views the market as a social phenomenon that can change the life of a large portion of the world’s population and criticizes the policies of governments which put the interests of owners and investors at the top. Despite this, Soros is considered to be a most aggressive financial market trader who is almost always working on the brink of financial transaction legality.
Soros began his career as a traveling salesman, selling bags to earn his first money. He began his career as a trader after moving to New York to work at the FM Mager investment company – Soros’ specialization was in international arbitrage deals. His first brainchild on the investment market was Eagle (1967), which quickly attracted a fairly decent amount of investor funds and began to develop successfully. In 1973, Soros founded the Double Eagle Foundation, which also became a successful project. In 1980, Soros already had a fortune of $100 million and was the director of the Quantum fund. Interesting fact: all the investment funds created by Soros never suffered serious losses, although there were sometimes declines in the volume of profit.
After studying and analyzing Soros’ activity on the financial market, it is worth noting that many of the investor’s colleagues refer to him as a “financial extremist” who, through their aggressive activity, sometimes harm the market. In fact, Soros’ most famous transaction was an operation on a decrease in the pound sterling in 1992, which led to a complete change in the monetary policy of the Bank of England. After investing in a contract on a decrease in the value of the pound sterling worth 10 billion pounds, Soros earned at least 1 billion in profit in just one day and coined the term “black Wednesday.” What he did pushed the Central Bank of the United Kingdom to abandon the regulation of exchange rates by completely changing the financial system of England. Despite the fact that many experts talk about the significance of this financial operation on the foreign exchange market as being exaggerated, it is still a classic of financial trading even today!
At the moment, Soros is an active philanthropist and investor who has never focused solely on increasing his own capital.
John Mark Templeton
The third line of this ranking of the most famous and wealthy world traders deservedly goes to this investor. John Mark Templeton, born in 1912 in the US, has become a true stock market legend whose performance has not yet been surpassed!
Having received an excellent education at Yale and Oxford University, Templeton began his career as an investment lawyer. But after the creation of his own fund, Dobbrow and Vance (1940), he switched to investment activities. In 1954, Templeton opens his second successful project, the Templeton Growth Fund, and becomes the forefather of international investment in stock assets. The main principle of Templeton’s work was searching for companies with securities valued at no more than $1, but which offered good prospects for growth in the long term. In this way the investor achieved very large amounts of profit and never any losses. An interesting fact about his career is that there was a time when any partner of his fund who had invested $10,000 at the initial stage was able to get 2 million, and the annual return on investment was 14.5%, which is a very high indicator for the stock market.
During the course of his career, Templeton created a whole philosophy of efficient work on the stock market, which is actively used by modern traders today. Here are just some of the principles for traders which show the best results:
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● Don’t follow the crowd
● Markets are volatile and any asset can make a profit
● Invest in real income
● Use mistakes to learn
● No one can know everything
Such deep reasoning, based on his own experience, enabled the investor to reach a high level on the financial market – many trading professionals refer to Templeton as the greatest collector of 20th century shares and the most successful player on the stock market.
The next example of a successful investor is a trader of a new type, who, unlike classic investors, does not prefer medium or long-term capital investments, but rather quick transactions, sometimes completed within one business day. His intuitive and profound knowledge of market processes has allowed Cohen to earn $9.4 billion and become one of the most influential traders on Wall Street.
Steven Cohen was born in 1957 in the United States, and earned his degree in finance at the University of Pennsylvania. He started his career as a trader in private investment: he was a client of the brokerage company Gruntal, through which he conducted his own trading operations on the stock market. Thanks to high profit margins and the stability of his work on the market, he was invited to work for them. Cohen today considers his professional activity with this investment firm as a learning process and time spent building up experience. Only after 14 years did the investor decide that it was time to work independently. In 1992, he founded his own company, SAC Capital Partners, which he successfully heads today. At the moment, Cohen’s company manages $12 billion in capital, and it is one of the most stable investment firms and offers investors the most favorable conditions. Despite his extensive trading experience and large amount of capital, Steven remains a most active trader and brings his own company up to 15% in profit annually.
When describing Cohen’s work on the market, it should be noted that he does not seek to invest in long-term projects and does not study the work of the companies in which he conducts investments. As he says, you can earn much more simply by watching the chart during the day, rather than by studying the development prospects for a certain company and the fundamental indicators of the market. Thus, he can more safely be attributed to the category of aggressive scalpers than to classic investors in stock assets.
This investor is called the king of mutual funds. His biography begins in 1944. The life of the future billionaire and one of the most famous traders was extremely difficult in the beginning. He lost his father early on and was forced to work at 10 years old to feed his family. Peter’s main job was at the golf course where he set up balls. As he says today, this was his impetus for becoming wealthy. Being in an environment of wealthy people who mainly engaged in investment activity helped him learn such concepts as the financial market, exchanges, stocks, and investment funds.
He immediately put his first capital of 1,000 dollars into action, acquiring a modest stake in a small airline. This investment almost immediately brought him $10,000. In 1969, Peter had already become an analyst at Fidelity. This company, thanks to Lynch and his analytical skills, was able to occupy the highest line of the Wall Street rankings. Peter Lynch devoted 13 years of his life to the investment fund.
Peter Lynch believed the following postulates to be the fundamental principles that made it possible for him to become a successful trader:
● Always work according to a plan and a clear strategy
● Suppress emotions – the main enemy of any investor
● All drawdowns are consequences of history
● An individual investor is more efficient
These principles and methods of working with financial assets allowed Lynch not only to earn a large amount of capital, but also to become a historic personality in the world of exchange trading.
As you can see, a trader does not need to be born into a rich family to become wealthy and successful, the most important thing is to be able to feel the market, have your own work strategy, and clearly understand what the goal ahead is!
“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”
Meet 5 of the Richest Traders in the World
You may already know that the foreign exchange market, also known as forex, is where currencies are being traded on a daily basis by people from all corners of the world.
The forex market is widely considered as the most thrilling financial market due to the fact that transactions for over $5 trillion are being operated each and every day.
Considering the volume and size of the forex market, no wonder it keeps attracting and welcoming new traders who are interested in mastering it and earning extra profits.
Plenty of online forex trading platforms have been emerging for the past years, making it possible for not just huge financial institutions and businessmen but also everyday people to enter the market and easily start trading.
Furthermore, due to the enormous amount of information on how to learn to trade, as well as the many success stories available online, more and more people are inspired to invest time and resources into learning how to efficiently trade and eventually make big profits, just like famous traders out there.
Ultimately, it doesn’t matter if you are completely new to trading forex or already had a few seasons of trading behind your back – all traders share one key goal – to become successful in the forex market and eventually see themselves among the top forex traders in the world .
Before dreaming that big, though, let’s kick things off by giving you a little bit of inspiration and motivation. This article will explore the beginnings and success stories of some of the richest people in finance , hoping to bring out the hungry inner trader in you, ready to follow their path.
There are some wealthy traders who became professionals and left a significant mark on the history books of trading. Therefore, we at Trading Education , decided to tell you their stories, even though most of the Forex traders, especially the successful ones, decide to stay in the shadows and away from the attention of the media.
We handpicked some of the greatest ones, though there surely are plenty of other rich and successful traders to talk about.
We also want to remind everyone that with our free Trading Education course, you can start writing your own success story. We want to make sure there are more well-educated and profitable traders, that’s why thanks to our partners, we are able to provide a high-quality trading education course, absolutely free of charge.
Take a look at our “ The Ultimate Guide to Forex Trading ” course and apply while we still have open positions.
So, who are those 5 rich traders and how did they get to this point? Let’s take a look at our list:
We simply have to start our list with none other than George Soros.
From well-established traders to beginner traders, we are sure that almost everyone knows the story of the man who broke the Bank of England. How did he reach that point and what happened afterwards? Let’s talk more about it.
George Soros is a famous hedge fund tycoon who gained recognition after managing client money in New York from 1969 to 2020. In 1973 he set up his own hedge fund which eventually became the Quantum Fund.
The turning point of his career, however, happened in 1992, when he bet against the British Pound and reportedly made the enormous fortune of $1 Billion . He became known as the man who broke the Bank of England and will also go down in history as the first person who earned that much money in a single day.
He is a founding member of Soros Fund Management, LLC – a firm that manages hedge funds. Since its opening, the company has managed to generate around $40 billion in earnings. Not just that but he also founded Quantum Fund and the Central and Eastern Europe-focused Open Society Foundations, making over $14 billion in grants. Since 1984, Soros has guided his foundation towards supporting people and various organisations around the world, fighting for equality, freedom of speech and more. In 2020, Soros himself donated $18 billion of his fortune to fund the foundation’s future projects.
He is heavily involved with philanthropy and is trying to make the world a better place by sharing his fortune and success with as many people as possible.
Not just that but his thoughts and views on trading, investing and economics have been followed by many traders from across the world.
Don’t think for a second that everything was handed to him on a silver plate. Soros was born in Hungary but his family had to go into hiding to avoid deportation to a Nazi concentration camp.
He left the country at the age of 17 to pursue his goals and dreams. He put himself through the London School of Economics working as a railway porter and a nightclub waiter. This only proves that if you have a goal in mind, absolutely nothing can stop you. Everything is possible and it truly doesn’t matter where you come from and what is your background. You make your own destiny!
Now, let’s talk about another reputable figure in the investing world – Carl Icahn. Throughout the history of Wall Street, we have seen many investors and brokers but how many of them have gone on to become truly successful? Carl Icahn is one of those few. He is famous for his wisdom and intelligence when it comes to investing and is often compared to Warren Buffet (some may even say that he is even smarter).
Carl Icahn was born in New York in a family of teachers. He was a typical street-smart New Yorker. He was close to his uncle – M. Elliot Schnall, who eventually helped him buy a seat on the New York Stock Exchange by loaning him $400,000. The rest is history.
In the mid-80s, Carl Icahn also purchased Trans World Airlines (TWA), which became one of his most turbulent investments when the company filed for bankruptcy in 1992 and emerged from it a year later.
With his holding company, the Icahn Enterprises , Carl invested in a lot of both international and U.S. companies, including Apple, Netflix, Time Warner, Revlon, Viacom, Motorola and others.
His smart investments are what made him one of the richest men in the world with a net worth of over $17 billion.
His investing strategies have always been fascinating to traders and investors. Icahn became famous for not being afraid of taking risks and for his impeccable judgments when it comes to investment opportunities. It seems like things always work out for him, as some sort of a miracle. Is it a miracle, though? Or is it just a result of being in the game for so long that you know potential when you see it.
The strategies that made Carl Icahn one of the richest traders in the world are often referred to as quite active and even aggressive. His status as an active investor and by utilising his ownership position, he made changes that often led to an increase in the value of shares. Carl Icahn is also an economic advisor and an active philanthropist.
“Don’t always believe what market tells you. If you think you’re right, stick to your instinct” was what he would often advise his co-investors.
Let’s talk about another success story.
Ray Dalio grew up in a middle-class Long Island neighbourhood and got involved with the markets at the age of 12. He collected money by getting tips as a golf caddy. Most of the golfers he caddied for worked on Wall Street and that’s what got him interested in the world of trading stocks.
He earned his MBA from Harvard Business School in 1975 and went on to launch the investment company Bridgewater from his two-bedroom apartment in New York city.
The company’s success skyrocketed in the ‘80s and by 2020 it would turn into the largest hedge fund in the entire world. Today, the hedge fund firm manages about $160 billion in assets.
He also predicted the global financial crisis in 2007 and further explained his model in an essay titled “How the Economic Machine Works: A Template for Understanding What Is Happening Now.” His net worth is an astonishing $12.5 Billion.
In addition to his renowned essay, he also published a book, titled “Principles,” praised by many investors and traders from all over the world. In his book, he explains in detail the philosophy behind his investments as well as corporate management, based on his own corporate experiences and self-analysis.
Some of the principles he advocates to younger businessmen and traders are to keep their integrity, listen and observe more experienced traders, and analyse events.
Moreover, he shares that money was never an important part of his life but rather it led to an exciting and memorable life.
Ray Dalio has always been one of those investors who loves sharing his success with others. He has given over $700 million to various philanthropic causes. Moreover, the Dalio Foundation supports inner-city education, microfinance and nature conservation.
David Tepper is often referred to as one of the greatest hedge fund managers of all time and for a reason.
David Tepper was born in 1957 in the East-end of Pittsburgh, Pennsylvania. He graduated with honours in Economics and started experimenting with investments from a very young age.
Tepper started his career as a credit analyst and started developing his sense of money management and investing. He built up his career after carefully observing and learning the credit structure of a company that is experiencing financial troubles.
He became popular for picking up distressed companies and transforming them into profitable ventures due to the knowledge he obtained. He also bought bonds from banks on the verge of a bankruptcy during the late ‘80s. After the banks survived the bond market crash, he made a lot of money due to his investments.
He is also famous for founding the Tepper’s Appaloosa Management hedge fund firm in the early ‘90s which currently manages over $15 Billion .
In addition to being one of the most praised names in the investment world, Tepper is known in the philanthropic world, giving back to society. He continues to donate great amounts of money to schools, universities, academic centres and scholarship programs.
James Simons is surely one of the most intriguing figures on our list because, in addition to being a billionaire hedge fund manager , he is also a mathematician and quantitative investor, known for his famous studies on pattern recognition and string theory development. In the trading community, he is known as “the world’s smartest billionaire” .
James Harris Simons was born in 1938 in Newton, Massachusetts. As a teenager, he worked in a garden supply store. Determination, curiosity and hard work, however, earned him his PhD in Mathematics at the young age of 23.
His dreams to combine his passion for mathematics and trading led him to establish a team of professors, scientists and engineers who built an algorithm to predict any change in the price of a financial instrument. His ideas became the foundation of what we call today the “quantitative investor”.
James Simons founded the famous Renaissance Technologies, which made him a billionaire and became one of the world’s most successful hedge fund companies.
He is an expert in pattern recognition. He uses mathematical models to help him analyse hedge funds and end up with more accurate predictions than any other method. He is considered a true hero because as previously mentioned, he achieved such enormous success in a field other than mathematics by heavily utilising his mathematical knowledge.
He is also a generous philanthropist – it has been estimated that he has given over $2.7 billion to various philanthropic causes over his lifetime.
His current net worth has been estimated to over $20 billion.
“There is no real substitute for common sense except for good luck, which is a perfect substitute for everything.”
Trading Education has just introduced 5 of the most successful traders in the world of investment. We hope that their stories are inspirational, however, risky financial moves can make you think twice about your trading career.
Next time when you hear someone asking about rich people in finance , you can’t go wrong by telling them the story of one of our picks.
Most importantly, the goal of this list is to showcase that even the richest and most successful trader started from scratch and built up their fortune with significant knowledge, experience and hard work.
We hope that our list triggered your desire to learn more about forex trading, stock trading or cryptocurrency trading and become a notable trader, just like everyone else on this list.
We, at Trading Education, can guide you on your path to achieving your trading objectives. You can register for our free forex educational course and start your trading journey right now!
Richest Forex Traders You Should Know
Wondering how the richest forex traders make it to the top? First of all, we are built individually the same. It’s what we do with what we have that will make our own story one of success or one of failure.
The successful traders you mirror and look up to are in line with what is below.
Investing and trading are two words that might seem interesting to anyone. They both mean pleasure and money, or otherwise “business.”
If you are completely new to trading Forex, or an experienced currency trader on the markets, you are to be expected to share one key aspiration. This is becoming ahead of the game in the Forex markets.
This article will dig more about the stories of the top forex traders; the ones who became highly prosperous. It will also make available tips on how to become successful yourself!
Why Do You Trade?
This is perhaps the most crucial factor of success. What is your motive? We all have different reasons for trading.
Always remember to be very clear on why you started, invested and why you open the charts every day.
Have with you a trading plan, control risk and focus on producing strategies that will keep you having profit and steady.
How Do I Become More Successful at Trading?
One way to become better is to learn by experience. It goes with a good starting point to find out who is the forex millionaire trader in the world, then start studying about his or her strategies.
“Who is the best Forex trader?” “How did these traders become successful?” Those are just some of the questions that keeps making you involved more on trading.
In this article, you’ll learn about what the most fruitful currency traders have in common, and how those strengths facilitated them to achieve significant profits.
If you may have heard figures thrown around signifying that the ratio of the richest Forex traders to ineffective ones is small, there are at least a couple of explanations to be doubtful about such claims.
Firstly, rigid data is difficult to come by on the topic. It is because of the reorganized, over-the-counter nature of the Forex market.
On the flip side, there are still several of educational materials. In addition, working with Forex trading strategies which are accessible online to help you may perhaps improve your trading performance.
The Richest Forex Traders In The World
The richest forex traders are without a doubt the people we should look up to. But besides knowing and appreciating them, we can actually benefit from them.
You will see numerous explanations that will let you understand how to benefit from them. Get to meet the world’s successful forex traders of 2020.
His birth name is Schwartz György, born on August 12th, 1930 in Hungary.
He studied in the London School of Economics and Political Science and graduated in Philosophy in 1952. While at school, he had already started making trades.
As of February 2020, he had a net worth of $8 billion.
He is more popular as the “Man Who Broke the Bank of England” for his huge pound short position during the 1992 Black Wednesday UK crisis.
Born on February 5, 1937 in London.
When he was young, he had already expressed his gift in business. He left school at 15 to help run his family business.
In September 1992, he collaborated with George Soros to bet contrary to the Sterling Pound, which led to the Black Wednesday.
He made even more than Soros then, which is more than 1.8 billion dollars.
Lewis has a net worth of £4.358 billion, an increase of £462 million from 2020.
Paul Tudor Jones
At the age of 64, he is considered one of the wealthiest day traders alive to this day, with a net worth at 4.5 billion USD in a 2020 data.
Jones went to the University of Virginia.
He graduated with a degree in Economics in 1976. After turning down Harvard Business School, he kept working as a commodities trader in the NYSE.
In 1980, he founded his own company called Tudor Investment Corporation.
Jones mainly bet on fluctuations in interest rates and the forex market.
Schwartz is known for winning the US Investing Championships in 1984 by trading stocks, forex, and options.
The writer of Pit Bull: Lessons from Wall Street’s Champion Day Trader.
He at first worked as a financial analyst at EF Hutton.
He also traded on the American Stock Exchange for options and futures, making $600,000 in his first year as an independent trader and gained $1.2 million in two years.
Owner of numerous champion horses, gathering several major racing wins such as the Meadowlands Cup, Coronation Stakes, Prix de Diane, Prix Vermeille, and Prix Vanteux.
For more than a decade, Druckenmiller managed money for Soros.
He was the lead portfolio manager of the Quantum Fund.
He was born in Pennsylvania and grew up in a middle-class household.
He went on to receive a BA in English and Economics but dropped out of a PhD program at the University of Michigan. This is to take a position as an oil analyst for Pittsburg National Bank.
Druckenmiller stayed with the bank for a year before producing his own firm Duquesne Capital Management.
In 1988, he was hired by George Soros to trade for the Quantum Fund.
In 2009 he was dubbed as one of the most charitable men in America for donating over $700 million in fundraisers supporting medical research, education, and anti-poverty efforts.
His net worth is 4.7 billion USD as of 2020.
The Bottom Line
There are certainly quite a lot of more hedge fund notable traders around the world, but these 10 investors have proven their worth above everyone else.
If you would like to start up your game in your own investments, then you may undoubtedly need to learn a few things from these folks!
Even the most successful trader had to begin somewhere and if you can frequently generate profits, you can consider yourself a successful Forex trader.
- It’s important to have the right guide to go in the right direction. With detailed research and analysis, we carefully choose brokerage companies to recommend traders. Check-out Financebrokerage’s review on Fundiza.
May these real trading success stories from those who are real millionaires get you eager and let you have in mind that you can do it.
Just go through different trading approach and make sure you understand the process before taking a risk.
Hopefully, this article has given you some essential insights from characters shared by the most fruitful Forex traders.
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