Forbes published its Billionaires' List. There are quite a few additions (especially from India and China) but still no Daytraders on the list. http://biz.yahoo.com/special/bill06_article1.html http://www.forbes.com/billionaires/
#71 George Soros #512 Marc Rich you don't think Soros was ever an active intraday trader at anytime throughout his career? they say Marc Rich was the greatest commodities trader of all time. he has his minions doing it for him now, but i'm sure he spent many a year glued to his screens watching the ticks.
i wouldn't doubt that, but daytrading encompasses many more facets than just scalping a 10 cent move on AAPL.
Marc Rich was a COMMODITIES trader but a real one. Making DEALS with countries for commodities you never heard of. I believe he had a great deal to do with starting the Crude Oil trading and eventuall ran afoul of the FEDS by trading WITH Iran against US foreign policy. He dealt in tankers full of Crude NOT contracts on Nymex. Even if you make a half million dollars a week for 25 years you won't CATCH the Forbes people because they have a head start on you. Many have several generations head start through inheritance. The group who are self-made like Michael Dell (computers) are in a league of their own. However, many of them are only billionaires on PAPER. Far fewer have the cash in the bank when you elimimate the inheritance crowd from the equation.
You forgot #8 which is Prince Walid. He is totally involved in Stock Market and yes he does the day trading. In one of his Interview last year, he said he has one department seperate just for day trading. I will find the link for that magzine and will post it if I can find it.
that's why i chose 2 guys in their 70's. the money the upper echelon daytraders make now, invested conservatively, compounded for 40 or 50 years until they're in their 70's could realistically propel them to the 2050 list. they're not gonna be daytrading once they've already made it.. but they have to start somewhere. we don't know how they made that initial principal in the early years.
"High profile drop-offs include Martha Stewart, whose net worth has fallen to an estimated $500 million since she got out of jail" First her apprentice show tanks and now her stock price drop drops her off the list. If she had just been herself (throwing pots at her employees or screaming at them over minor things) her show would have "trumped" The Donald. But as usual she used bad judgement trying to pretend to be her media image instead of herself and no doubt not taking advice from others far wiser than herself like when she talked to the FBI and lied. The viewers would have enjoyed seeing her "pin" her neighbor to the fence with her Suburban rather than reading a "note" to the potential apprentice candidate she dumped. It would have helped her bottom line.