Meet 5 of the Richest Traders in the World
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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 US dollars 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 get encouraged and invest time and resources into learning how to efficiently trade and eventually make big profits, just like the famous traders out there.
Speaking of wealthy traders who became professionals and left a significant mark on the history books of trading, 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. Who are those 5 rich traders and how did they get to this point? Let’s take a look at our list:
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. In the early ‘90s, George Soros made the enormous fortune of $1 Billion by betting against the British Pound. He will also go down in history as the first person who earned that much money on a single day.
George Soros is also 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 dollars in earnings. Not just that but he also founded Quantum Fund and Open Society Foundations. He is heavily involved with Philanthropy and his thoughts and views on trading, investing and economy have been followed by many.
Carl Icahn is one of the richest men in the world with a net worth of over $17 billion. He made his fortune in the ‘80s after the asset stripping and takeover of Trans World Airlines (TWA). In addition, he is also the founder of Icahn Enterprises - a widely-known conglomerate holding company. The trading community also knows him as one of the wealthiest hedge fund managers in the world.
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 utilising his ownership position to make desired changes that will lead to an increase in the value of shares. Carl Icahn is also an economic advisor and an active philanthropist.
Ray Dalio is known as the founder of investment company Bridgewater Associates, which skyrocketed in the ‘80s and by 2011 it would turn into the largest hedge fund in the entire world. 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 the astonishing $12.5 Billion.
Ray thoroughly explained his principles for success in a book, called “Principles”, praised by many traders from across the world. Some of his principles he advocates to younger businessmen and traders are to keep their integrity, listen and observe the more experienced traders and analysing events. Moreover, he shares that money was never an important part of his life but rather leading an exciting and memorable life.
David Tepper is often referred to as one of the greatest hedge fund managers of all time. He is also famous for founding the Tepper's Appaloosa Management hedge fund firm which is currently managing over $15 Billion. He started his career as a credit, securities and financial analyst with prominent banks and financial institutions. He built up his empire after carefully observing and learning the credit structure of a company that is experiencing financial troubles. Later on, he utilized that knowledge by buying bonds of banks on the verge of a bankrupt during the late ‘80s. After the banks survived the bond market crash, he made a lot of money due to his investments.
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. To the trading community he is known as “the smartest billionaire”.
His dreams to combine his passion for mathematics and trading led him to establishing a team of professors, scientists and engineers who built an algorithm to predict any changes in the price of financial instruments. His ideas became the foundation of what we call today the “quantitative investor”. 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 and inspirational, yet risky financial moves can make you think twice about your trading career.
Most importantly, the goal of this list it to showcase that even the richest and most successful trader started from scratch and build 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 Crytpo 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!