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Famous investor and MC Jim Cramer tells the story of becoming a millionaire at the age of 28

Jim Cramer, host of CNBC’s “Mad Money,” became a millionaire at the age of 28. He was delighted — “but not as thrilled as many people think,” he said.

That’s because making a lot of money isn’t the most important thing in life, says Cramer, now 67.

However, Cramer didn’t always feel that way: Working in the sales department at Goldman Sachs in 1984, his goal was to become rich and “success at its peak.”

“The second time I got my salary, I made $300,000. And then on the next one, I made $750,000,” Cramer said. “I can not believe it. But I am very grateful. Goldman did it for me.”

Proud of making a million dollars, Cramer visits his parents to share the good news. But contrary to his expectations, Cramer’s mother – an artist dying of cancer at the time – called it “shameful”.

Famous investor and MC Jim Cramer tells the story of becoming a millionaire at the age of 28 - Photo 1.

Investment expert and famous MC Jim Cramer. Image: CNBC

Cramer said: “I think Mom would be very proud of me. I said, ‘Mom, I’m a millionaire!’ And she, who is struggling with illness, utters what many might consider “unrefined”: “The son is embarrassing his mother and embarrassing himself. Am I me or not – when it’s always about money?”

“No, Mom, I was just proud,” Cramer recalls.

“Why? Be proud if you have written something great. Be proud if you’re an artist,” Cramer recalls his mother saying, “Don’t be proud because you’ve earned money.”

Cramer’s dad argued, “You know, Jimmy never had any money, we never had any money, this is great.”

“When I left life, if this is what happened, I was a failure,” his mother said.

“And I never forgot this.” Cramer recalls: “My mom said, ‘When you really make money, stop. Be a writer.’

Later, Cramer pursued a career in writing. He is the author or contributor to dozens of books on investing and currently writes daily stock updates for the CNBC Investment Club.

In 1996, Cramer co-founded TheStreet.com, a financial news website, before becoming the host of “Mad Money,” which first aired in 2005. The program is about providing “the knowledge and tools to help you become a better investor”.

“I wrote 3,000 words a day for 20 years. I hope that can make my mother proud. My father is also proud that I made money from the market,” says Cramer. “But money is not everything.”


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