Trading describes buying and selling financial instruments, such as forex, crypto currencies, stocks, bonds, commodities, derivatives, hedgers, or speculators, in the field of finance. Traders always have a great scope in every era. As you have heard about the wealthiest traders, you must know how these traders are changing the world financially and technologically. Here I have created a list to learn about the richest traders.
- Nicholas William Leeson
As one of the richest traders in the world, Leeson is at the top of the list. He is known as a rogue trader who traded in a fraudulent, unauthorized, and speculative manner. During the financial crisis, Leeson was the financier who bankrupted Barings Bank, the United Kingdom's oldest merchant bank. In 1995 this bank became collapsed. For this, he was sentenced to prison for about four years. But later, he went on to become the C.E.O of the Galway United football club.
- Paul Tudor Jones II
Jones is known as an American billionaire. He is famous for his role as a conservationist and philanthropist. In 2019 he was estimated to have a total net worth of 5.3 billion dollars by Forbes Magazine. According to this, he became 343rd richest person on the Forbes 400. While as a fund manager, he got the 7th number.
Tudor Jones believes that:
“Prices move first and fundamentals come second.”
- Jesse Livermore
Livermore is listed as one of the top three traders of all time. This American stock trader is considered a pioneer of day trading. In 1929 he earned $100 million after successfully shorting the market crash. At the time of his suicide, in 1940, he was in a financial situation where he had more liabilities than assets.
- William Delbert Gann
WD Gann is known as a financial trader. In 1902 he began his journey as a trader when he was 24. His work in the field of Astrology, Geometry, Ancient Mathematics, and Astronomy is remarkable. Besides these subjects, he wrote several books and courses on commodity marketing. One of Gann's mysterious technical tools is the Square of 9. In addition, he also discussed the use of angles in the stock market.
- George Soros
George Soros is an American billionaire and richest trader who was born in Hungry. With a total net worth of US$8.6 billion, he is a great investor and philanthropist.
He got the title of "most generous giver" by donating $32 billion to several foundations. In 1992 Soros got the title of "The Man Who Broke the Bank of England" due to his US$10 billion short sales.
Once on a question about his journey to a merchant bank, he replied
"Well, I had a variety of jobs, and I ended up selling fancy goods on the seaside, souvenir shops, and I thought, that's not what I was cut out to do. So, I wrote to every managing director in every merchant bank in London, got just one or two replies, and eventually that's how I got a job in a merchant bank." (https://en.wikipedia.org/wiki/George_Soros)
- Jim Rogers
James Beeland Rogers is one of the great investors and financial commentators based in Singapore. He co-founded Quantum Fund and Soros Fund Management. He is also known as the chairman of Beeland Interests and a creator of RICI. Rogers has acknowledged that his views best fit the Austrian School of Economics label. But still, he never considers himself a member of any school of thought. In 1990 Robert received worldwide acclaim for his correct calls on commodities. His book, which is based on the adventurous travels of the world, also got several nominations.
- Richard Dennis
From the age of 17, Dennis began working as an order runner at the Chicago Mercantile Exchange. In response to the stock market crash of 1987, a futures trading fund under his management suffered significant losses. As a result, he retired for several years.
He co-founded the Turtle Trading experiment with William Eckhardt. Besides this, Dennis works as a vice-chairman of C&D Commodities and as the president of Dennis Trading Group Inc.
He is an active supporter of the organization "Flex your Rights." This organization works to educate people about their constitutional rights when police are confronting them.
- Steven A. Cohen
Cohen is the richest trader of America and an owner of Major League Baseball. He is also the founder of S.A.C Capital Advisors, which was a group of hedge funds. But the court filed a criminal case against S.A.C due to Cohen's civil insider trading conviction. In 2013, S.A.C. Capital Advisors had to agree to pay a fine of a considerable amount of $1.8 billion. Moreover, the court also banned Cohan for two years for any transactions outside the country.
- John Alfred Paulson
Paulson was born on December 14, 1955. This American billionaire hedge fund manager is not an unknown trading personality in the world of trading. Currently, he is leading his management firm Paulson & Co.
The world of traders awarded him with the title of one of the most successful traders in Wall Street history and one of the top financial figures of all time.
In 2007 his fortune rose by earning $4 billion. After this, he became the financial legend personality. Currently, he has a total net worth of about $4.2 billion, which Forbes estimated in May 2020. He also had contributed a lot of money to the campaigns of many political candidates.
- David Tepper
David Alan Tepper is a famous hedge fund manager and philanthropist. He founded Appaloosa Management with Jack Walton, who is known as a successful hedge fund manager. The location of Appaloosa Management is based in Florida. Also, he is the owner of the National Football League (NFL). The industry calls him with a lot of names, including "A Golden God." As of April 2020, Tepper donated more than $22 million in total to COVID-19 relief efforts.
- Final Words
The role of the richest traders in economic development has been around for centuries. In addition to encouraging economic growth, they are a significant force for reducing global poverty. Market Wizards, The Intelligent Investors, Reminiscences of a Stock Operator, and The New Market Wizards are famous books written on the world's top traders.