Who Made The Most Money From The 2008 Crash?
John Paulson was the man who made the most money from the 2008 crash.
In fact, he made most of his fortune during the beginning phase of the financial crisis. He predicted the crisis many years before.
In 2007, he made approximately 4 billion dollars by shorting the US housing market. Till 2010, his money grew to 4.9 billion dollars.
This made him a financial guru on Wall Street, uplifting from an obscure hedge fund manager. Even, because of this reason, he succeeded in gaining more popularity than Warren Buffet for some time.
Currently, Paulson is the owner of Paulson & Co, he founded this firm in 1994.
5 Awesome Facts About John Paulson That You May Not Know
1. His Company Made Over $20 Billion
During the financial crisis, from 2007 to 2009, his firm Paulson & Co made over 20 billion dollars by betting against the U.S. subprime mortgage lending market. However, among this 20 billion, 4 billion dollars was his own.
2. He Made The Greatest Trade In The History of The Stock Market
Do you know? Paulson’s 2007’s trade is known as the greatest trade in the history of the stock market.
Even, there is a book on this topic “The Greatest Trade Ever” written by Gregory Zuckerman.
3. He Was A Playboy
In 1994, during the early phase of his career at Wall Street, Paulson gained popularity as a playboy.
However, later he decided to get serious and started focusing on his venture, Paulson & Co.
4. He Started With Only One Employee
John Paulson started his firm Paulson & Co with only 2 million dollars and one employee.
While requesting investors to invest in his firm, he was rejected almost 500 times. Currently, the company handles 8.7 billion dollars of assets with 120 employees.
5. He Faced Protests For Weeks
Do you know? John Paulson faced massive protests in front of his doorsteps for many weeks.
Actually, he invested in a Canadian gold mining company, which wanted to mine gold in Romania.
The Canadian company was accused of environmental pollution and village destruction.