Teen Makes $72 Million on the Stock Market
Mohammad Islam owns a BMW – but doesn't have his license yet
Kids these days.
New York Magazine recently profiled Mohammed Islam, a 17-year-old senior at Manhattan’s Stuyvesant High School who decided to start trading stocks during his lunch break and found himself all the richer for it.
$72 million richer, to be precise.
Islam, the son of Bengali immigrants from Queens, is the president of the school’s Investment Club and has been profiled by Business Insider for his financial acumen. Mo, as he’s known, won’t disclose his full net worth but says it’s in “the high eight figures.”
Mo’s got an apartment in Midtown Manhattan, though his parents won’t let him move out of their house until he’s 18. He bought a BMW, but he doesn’t have a license to drive it – his dad drives him on inspirational tours past the home of his idol, billionaire Paul Tudor Jones, a hedge-funder and private asset manager who’s ranked the 108th richest American, according to Forbes.
Islam recalls that, when he first experimented with penny stocks (at the tender age of 9), he lost some of the money he’d saved up from tutoring, which caused him to swear off trading briefly. But he was reinvigorated by Jones’s story and quotes his idol: “You learn more from your losses than from your gains.”
From all appearances, Islam’s learned plenty.
Like us on Facebook for more stories like this!