Did you know Bernie Madoff net worth? It might be interesting to know the biography of Bernie Madoff. So, keep reading to know who was Bernie Madoff actually. Bernie Madoff was an American former investment advisor, financier, and stockbroker. Bernie was a former chairman of the NASDAQ stock market and is the fraudster behind a fraudulent scheme. As of the current date of Feb 2022, Bernie Madoff net worth was approximately around $64.8 billion.
|Full Name||Bernie Madoff|
|Date of Birth||29 April 1938|
|Birthplace||Queens, New York|
|Net Worth||$64.8 Billion|
Professional Career & Bernie Madoff Net Worth
In the year 1960, Bernie Madoff found a Wall Street firm. Madoff Investment Securities LLC. Bernie decided to work for a company instead of earning his law degree and he was the owner from 11th December 1960 to 11th December 2008.
The firm was a penny stock trader, and the capital was $5K. Today’s value is $40K. Moreover, he established it, when he was a lifeguard and sprinkler installer. Before NASDAQ, they created markets through Pinks Sheets of NQB (National Quotation Bureau).
It was just to put them in a better position when they were going to compete with members of the New York State Exchange. All of the advisory division and investment management of the firm were there. Moreover, Madoff was a member of NASD (National Association of Security Dealers).
In the past, he was both chairman of its directors as well as he was a member of its board of governors. Being a chairman, the firm of Madoff was the largest market maker at NASDAQ and it was Wall Street’s sixth-largest market maker in the year 2008.
The date of birth of Bernie Madoff was 29 April 1938 and his birthplace was Queens, New York. The names of his parents were Ralph Madoff and Sylvia Munter. The profession of his father was stockbroker and plumber as well.
The father of Bernie died in 1972 and Bernie’s mother died after two years of her husband’s death. Moreover, Bernie had two siblings named “Peter Madoff and Sondra Weiner” and he was the second child of his parents.
In the year 1956, Madoff finished their high school education, and he graduated from Far Rockaway High School. Moreover, Bernie attended the University of Alabama and stayed there for his freshman year.
After this, he joined Hofstra University and got the certification of graduation in 1960 with a Bachelor of Art in political science. In addition, he joined Brooklyn Law School for a little time period. Moreover, he selected the business over the Law degree and he got married on 28 November 1959. The couple gave birth to 2 kids.
Age, Height, Weight, & Physical Measurement
At the time of his death, Bernie Madoff’s age was 82 years. The height of Madoff was 1.71 meters with a weight of 56 KG. However, the physical measurement, hair, and eyes color are unknown. Now let’s take a look at the Bernie Madoff net worth and his Committed fraud.
Bernie Madoff Committed Fraud
According to some news, Madoff was blamed for fraud. On 12 March 2009, he was declared guilty of over ten federal felonies. According to some news, Madoff was punished over the maximum possible sentence of 150 years. He also pleaded to reduce the duration of his punishment, but it was declined.
Bernie Madoff Net Worth 2022
At the time of his death, Bernie Madoff net worth was $64.8 billion, which was the reward of his hard work throughout his life. The primary resource of Bernie Madoff’s income was his firm named “Bernard L. Madoff Investment Securities LCC”.
However, Madoff was arrested due to committing fraud, and his firm defrauded clients over $65 billion. According to some news, his owned property was only $22 million, which was not enough to pay the victims. Although, Bernie Madoff net worth has been good enough.