tom sosnoff net worth

Tastytrade Co-Founder Tom Sosnoff Congenital His Internet Worth Educating Investors

Tastytrade co-founder Tom Sosnoff has built his net worth as a trailblazer in the brokerage industry. He shares his expertise and noesis with investors.

Past

Mar. 14 2023, Updated x:09 a.m. ET

Meme stock "mania" is good for business, said Tastytrade co-founder and CEO Tom Sosnoff in an interview on March 30, 2022 with CNBC's Andrew Ross Sorkin. Sosnoff has built a net worth of about $150 one thousand thousand as a trailblazer in the brokerage manufacture. Sosnoff shares his expertise and knowledge with investors of all levels.

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"Information technology's a skillful affair when we get a little fleck of action in meme stocks that brings everybody back into the market place. Information technology'south proficient for appointment," Sosnoff told Sorkin in the interview.

Given the influence and success Sosnoff has in the finance space, people want to know how he reached such heights. And we've got some answers!

Tom Sosnoff

Tastytrade Co-Founder and CEO

Cyberspace worth: $150 Meg

After spending xx years as a broker on the Chicago Board Options Exchange (CBOE), Tom Sosnoff became a series entrepreneur. He sold his first company, Thinkorswim, to TD Ameritrade in 2009 for $750 million. A few years later, Sosnoff took the profits from that sale to launch Tastytrade. He too eventually started Tastyworks and Dough Inc., two companies that work in tandem with Tastytrade.

Birthdate: March 6, 1957

Birthplace: New York Metropolis, North.Y.

Alma mater: State University of New York at Albany

Married: Yeah (wife'southward identity is unknown)

Kids: two

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Source: Tastytrade Twitter
Tastytrade team

Who is Tom Sosnoff?

Sosnoff, 65, spent over twenty years equally a market maker for the Chicago Lath Options Exchange (CBOE) earlier starting his various entrepreneurial pursuits.

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Assertive that online options trading was the way of the futurity and would concenter private investors into the market, Sosnoff co-founded the online brokerage firm Thinkorswim in 1999. The firm also offered an educational program for private investors.

How much did Tom Sosnoff sell Thinkorswim for?

In 2009, Sosnoff sold Thinkorswim to TD Ameritrade for $750 million. By that time, the firm had well-nigh $3.6 billion in client assets from more than than 70,000 trading accounts, reports Daily Finance.

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When asked what the secret to long-term success is in options trading, Sosnoff told Daily Finance, "Remember that you are simply as adept as your concluding trade – and never read your own press clippings. Stay humble, or the market place will exist the one humbling you lot."

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How did Sosnoff start Tastytrade?

Co-ordinate to a 2011 Crain'south Chicago Business article, Sosnoff personally pocketed $84 million from the auction of Thinkorswim and also got to keep the registered domain proper noun, Tastytrade.com. It took him a couple of years to effigy out what to practise with the coin and the domain. Then in 2011, he launched the fiscal news network Tastytrade Inc.

Sosnoff envisioned Tastytrade to be to investing like Comedy Central's "The Daily Show" is to politics, informational and educational with comedy mixed in, Huff Post reports. The Wall Street Journal likened Tastytrade programming to ESPN'southward Mike & Mike show. Sosnoff fix the Tastytrade studio up in a old hip-hop music studio in Chicago.

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"The fashion existent wealth is created is through a logical, intellectual, strategic approach to investing," Sosnoff told Huff Post in 2015.

Tastytrade currently produces 10 hours of live, original programming each twenty-four hour period during the calendar week that provides fiscal information, investment strategies, and amusement related to options trading and the stock marketplace.

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"Basically, this ain't yo momma'due south fiscal network. But y'all tin tell her to watch and learn!" states the Tastytrade website.

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What companies did Tom Sosnoff found?

After Tastytrade was launched, Sosnoff founded the Dough, Inc. stock trading platform in 2014, followed by the Tastyworks online brokerage in 2017. The two companies piece of work in tandem with Tastytrade.

"We kind of have that old-school mentality of if you build a great product and if you differentiate yourself through your applied science, you can grow. Great products scale. Nosotros learned that in the past," Sosnoff told BuiltInChicago.com in 2014.

Source: https://marketrealist.com/p/tom-sosnoff-net-worth/