Jim Cramer

Biography:

James Joseph Cramer (born February 10, 1955) is an American television host, author, and former hedge fund manager. He is best known as the host of Mad Money on CNBC and as a co-anchor of Squawk on the Street. A graduate of both Harvard College and Harvard Law School, Cramer began his career at Goldman Sachs before co-founding the hedge fund Cramer Berkowitz. He also co-founded the financial news site TheStreet, where he wrote from 1996 to 2021. Over his career, he has hosted multiple shows, including Kudlow & Cramer (2002–2005), and launched Mad Money in 2005. He has published several books on investing, including Confessions of a Street Addict (2002) and Jim Cramer’s Get Rich Carefully (2013).

Cramer was born in Wyndmoor, Pennsylvania, to Jewish parents Louise A. Cramer, an artist, and N. Ken Cramer, the owner of a packaging company in Philadelphia. He grew up in Springfield Township, graduating from Springfield Township High School in 1973, where he ran track. As a teenager, he worked various jobs, including selling soda and ice cream at Philadelphia Phillies games. He developed an early interest in stocks, beginning in elementary school and continuing through high school.

At Harvard College, Cramer studied government, graduating magna cum laude in 1977. While there, he served as president and editor-in-chief of The Harvard Crimson and was a National Merit Scholar. After graduation, he worked as a journalist for several newspapers, including the Tallahassee Democrat, where he covered the Ted Bundy murders. Later, he wrote for the Los Angeles Herald-Examiner but endured financial struggles after his apartment was robbed, forcing him to live out of his car. He also worked briefly for California Governor Jerry Brown before enrolling in Harvard Law School, where he graduated in 1984.

While in law school, Cramer supported himself by investing in the stock market, earning enough to pay for tuition. His stock-picking skills caught the attention of publisher Martin Peretz, who gave him $500,000 to manage—Cramer returned a profit of $150,000 in two years. After law school, he worked for Goldman Sachs before starting his hedge fund, which he ran successfully until 2001.

Cramer transitioned into broadcasting with his syndicated radio show Real Money in 2001, which later evolved into Mad Money. His energetic style and bold stock recommendations made him a household name, though his aggressive approach has also attracted criticism. He has appeared on numerous talk shows and in pop culture cameos, including Arrested Development, Iron Man, and Wall Street: Money Never Sleeps.

In his personal life, Cramer was married to Karen Backfisch, with whom he has two daughters, Cecelia and Emma, before their divorce in 2009. In 2015, he married Lisa Cadette Detwiler, a real estate broker and restaurant manager. He resides in Summit, New Jersey, owns a country estate in New Jersey, and a summer home on Long Island. Outside of finance, Cramer co-owns restaurants, including Bar San Miguel in Brooklyn, and has invested in properties such as the DeBary Inn in Summit.

Cramer is an outspoken fan of Philadelphia, particularly the Eagles, and has been a longtime season-ticket holder. He has spoken publicly about his struggles with anger and mental health, attributing them partly to his childhood. In 2009, he was nominated for the Time 100 list of influential people.