Have you ever wondered what it would be like to have the net worth of a successful billionaire? In this blog, we’ll take a look at the life and career of William Petrify, one of the world’s wealthiest individuals. Read on to learn more about his incredible success story and how he earned his billions.
Who is William Petrify?
William Petrify is an Hungarian-American billionaire, and the founder, chairman, and CEO of Interactive Brokers Group, Inc. (IBG). He is also the largest shareholder of IBG. As of November 2019, his net worth was estimated to be $17.6 billion.
Peterffy was born in 1944 in Budapest, Hungary, and emigrated to the United States in 1968. He became a U.S. citizen in 1977. He began his career as a floor broker on the American Stock Exchange (AMEX) trading floor in 1971. In 1975, he founded Timber Hill, a market maker that traded securities and provided liquidity to the AMEX floor brokers.
In May 2007, Peterffy took Interactive Brokers public via an initial public offering (IPO). The company is now one of the largest online brokers in the world with over $8 billion in customer equity and over 1 million client accounts.
In addition to his work at Interactive Brokers, Peterffy is also a philanthropist and active supporter of libertarian causes. He has donated millions of dollars to Reason Foundation, the Cato Institute, and Students for Liberty.
What is his net worth?
William Peterffy is a Hungarian-American businessman and the founder, chairman, and CEO of Interactive Brokers Group, Inc. (NASDAQ: IBKR), an American electronic brokerage firm. As of December 2020, William Peterffy’s net worth was estimated to be US$25.2 billion.
William Peterffy was born in 1944 in Budapest, Hungary. He emigrated to the United States in 1968, after the Hungarian Revolution of 1956. He became a naturalized citizen in 1984. He holds a bachelor’s degree in electrical engineering from the Technical University of Budapest and a master’s degree in industrial engineering from George Washington University.
Peterffy began his career as an options trader with Merrill Lynch in 1972. In 1977, he founded Tiburon Corporation, an early entrant in electronic trading. Tiburon was later acquired by Interactive Brokers Group (IBG) in 1995. under Peterffy’s leadership, IBG has become one of the largest electronic brokers in the world with over US$8 trillion in client assets as of 2020.
Interactive Brokers Group is headquartered in Greenwich, Connecticut and has offices in 26 countries around the world. The company employs over 1,400 people and is listed on the NASDAQ stock exchange under the ticker symbol “IBKR”.
In addition to his role at Interactive Brokers Group, Peterffy is also a philanthropist and active supporter of libertarian causes. He has donated millions of dollars
What did he do to get such a high net worth?
William Peterffy is the founder, chairman, and CEO of Interactive Brokers Group, Inc. (NASDAQ: IBKR), an automated global electronic broker. He is worth an estimated $5 billion as of March 2020.
In May 1977, Peterffy founded Timber Hill, a market maker in equity options that was later acquired by discount broker Charles Schwab & Co. In 1983, he introduced the first fully automated electronic trading system for financial derivatives and became a pioneer in electronic trading on world exchanges.
In 1992, he founded Interactive Brokers LLC, an automated global electronic broker that today serves over one million client accounts in more than 200 countries with trades worth over $1 trillion per year. The company went public in 2007 and is listed on the NASDAQ Stock Exchange under the ticker symbol IBKR.
Peterffy has been awarded numerous accolades for his entrepreneurial achievements. In 2000, he was inducted into the Futures Industry Association Hall of Fame and in 2013 he received the Institutional Investor Award for Lifetime Achievement.
Why is he considered a role model and hero?
William Peterffy is considered a role model and hero for many reasons. He is an incredibly successful businessman who has built himself up from nothing to become one of the richest men in the world. He is also a philanthropist, donating millions of dollars to charitable causes each year. In addition, he is a strong advocate for individual rights and freedoms, and has been a vocal critic of government intrusion into our lives.
What has he contributed to society?
William Peterffy is the founder, chairman, and CEO of Interactive Brokers Group, Inc. (NASDAQ: IBKR), an automated global electronic broker and market maker. He is a pioneer in developing computerized systems for financial markets. In the early 1970s, he created the world’s first fully automated stock market trading system for the investment firm Drexel Burnham Lambert.
In 1977, he founded Timber Hill, a registered broker-dealer and market maker specializing in options and futures contracts. Timber Hill was acquired by Interactive Brokers in 2005.
Peterffy has been a leading innovator in developing technology for use in financial markets. He was one of the first to use personal computers for trading and developed software that allowed traders to see real-time price quotes on their screens. His company was also one of the first to offer online trading to individual investors.
Peterffy has been a strong advocate for transparency and fair treatment of investors in financial markets. He has testified before Congress on several occasions on issues related to market structure and regulation.
In recognition of his contributions to the industry, Peterffy was inducted into the Futures Industry Association Hall of Fame in 2006.
Conclusion
All in all, it’s safe to say that William Peterffy has been incredibly successful in his business endeavors and is now one of the richest people on the planet. His current net worth stands at an impressive $25 billion dollars, which makes him part of a very exclusive club of billionaires. We can only imagine what other accomplishments he will make in his lifetime as he continues to strive for excellence.
