We all know that South Africa is a powerhouse in the forex trading world. But who are the richest traders in the country? In this blog post, we will take a look at the eight richest forex traders in South Africa. From their humble beginnings to their current successes, these traders have truly made it to the top. So, if you’re looking for some inspiration or just want to know more about whose making it big in the forex trading world, read on!
George Soros
George Soros is a Hungarian-American billionaire hedge fund manager, philanthropist, and political activist. He is the chairman of Soros Fund Management. In the early 1990s, he was convicted of insider trading and fined $2 million. He is also the founder of the Open Society Foundations.
As of February 2022, George Soros has a net worth of $6.7 billion.
Bruce Kovner
Bruce Kovner is an American businessman and hedge fund manager. He is the founder of Caxton Associates, a global macro hedge fund with over $15 billion in assets under management. Kovner is also a noted philanthropist, having donated over $100 million to charitable causes.
Born in 1945, Bruce Kovner grew up in a working-class family in Brooklyn, New York. He developed an early interest in business and economics, and after graduating from high school, he attended Harvard University on a full scholarship. He graduated from Harvard in 1969 with a bachelor’s degree in history.
After graduation, Kovner took a job as a cab driver to save money for graduate school. He eventually enrolled at Columbia University’s School of Business, where he earned his MBA in 1973. It was during his time at Columbia that Kovner first began trading commodities futures contracts.
After graduation, Kovner joined Commodities Corporation as a trainee trader. He quickly became one of the firm’s most successful traders, earning millions of dollars for the company. In 1981, he founded Caxton Associates with $30,000 of his own money and four partners.
Caxton Associates quickly became one of the most successful hedge funds in the world, with annual returns of more than 30% per year between 1983 and 2005. In 2011, Forbes estimated Kovner’s net worth at $4.5 billion, making him one of the richest hedge fund managers in the world.
Ed Seykota
Ed Seykota is a well-known American forex trader who developed the first commercially available computerized trading system for Commodities Corporation in the early 1970s. He is also a former member of the Board of Directors of Commodities Corporation.
Seykota’s career in commodities and forex trading spans over four decades. In that time, he has become one of the most successful and well-respected traders in the industry. His approach to trading is based on technical analysis and disciplined risk management.
Seykota’s book, “The Ultimate Trading Guide”, is considered by many to be a classic text on technical analysis and trading systems. In it, he outlines his approach to market analysis and risk management.
Seykota is a managing partner of Seykota Capital Management, LLC, a money management firm that provides investment advisory services to clients around the world.
Bill Lipschutz
Bill Lipschutz was born in 1953 in New York. After graduating from Cornell University in 1976, he began his career as a foreign exchange trader at Salomon Brothers. In the 1980s, he became one of the most successful traders at the bank, earning millions of dollars for himself and his employer.
In 1987, Lipschutz left Salomon Brothers to set up his own hedge fund, Hathersage Capital Management. He continued to trade successfully through the 1990s and 2000s, making a fortune in the process.
Lipschutz is now retired from active trading but remains an influential figure in the forex world. He is a regular contributor to online forex forums and has written a number of books on trading.
Andy Krieger
Andy Krieger is a South African forex trader who made his fortune by short selling the New Zealand dollar. Krieger began his career in 1982 as a currency trader for Bankers Trust. He was soon promoted to head of Bankers Trust’s global foreign exchange arbitrage group.
In 1987, Krieger made headlines when he bet against the New Zealand dollar, short selling it against the Japanese yen. His bet paid off to the tune of $300 million, making him one of the most successful forex traders in history.
Krieger continued to work for Bankers Trust until 1995, when he left to start his own hedge fund. He currently manages a portfolio of over $100 million.
Stanley Druckenmiller
Stanley Druckenmiller is a well-known American hedge fund manager, trader and philanthropist. He is the chairman and founder of Duquesne Capital Management, which he started in 1981. He has an estimated net worth of $4.2 billion as of March 2020, making him one of the richest people in the world.
Druckenmiller was born in Philadelphia, Pennsylvania, on July 14, 1953. He graduated from Duke University with a bachelor’s degree in economics in 1975. After graduation, he began his career as a research assistant for Commodities Corporation. He later became a vice president at Goldman Sachs and a partner at Soros Fund Management.
Druckenmiller is known for his successful speculation against the British pound in 1992, which earned him and his company $1 billion. He also made significant profits during the 1997 Asian financial crisis and the 2000 dot-com bubble burst. In 2010, he announced his retirement from Duquesne Capital Management, although he still manages his personal fortune.
Druckenmiller has been a major philanthropist, donating over $700 million to various causes. In 2012, he founded The Druckenmiller Foundation, which supports education, health care and human rights initiatives.
Jeffery Epstein
Jeffery Epstein, who is said to be worth $6.6 billion, made his fortune through currency trading. He is the founder of the now-defunct firm J. Epstein & Co., which he started in 1976.
Epstein began his career as a clerk on the floor of the New York Stock Exchange. He later moved to London to work as a trader for investment bank Bear Stearns. In 1980, he returned to New York and founded his own firm, J. Epstein & Co.
Epstein’s company was one of the first to use computerized trading systems. His firm traded currencies, commodities, and interest rates. Epstein was also one of the first traders to hedge his positions with derivatives.
In 1995, Epstein was convicted of felony charges of conspiracy and solicitation of prostitution. He served 13 months in prison and was required to register as a sex offender.
Since his release from prison, Epstein has kept a low profile. In recent years, he has been living in a mansion on Manhattan’s Upper East Side.
Paul Tudor Jones
Paul Tudor Jones is a hedge fund manager and philanthropist who has a net worth of $5.1 billion. He is the founder of the hedge fund Tudor Investment Corporation, and he is also the chairman of the Robin Hood Foundation, a non-profit organization that provides resources to fight poverty in New York City.
Jones was born in Memphis, Tennessee, and he graduated from the University of Virginia with a bachelor’s degree in economics in 1976. He began his career as a clerk on the floor of the New York Stock Exchange, and he became a successful commodities trader in the 1980s. He founded Tudor Investment Corporation in 1980, and it quickly became one of the most successful hedge funds in the world.
In recent years, Jones has focused on philanthropy, and he has given away millions of dollars to charitable causes. He is also an active political donor, and he supported Barack Obama’s presidential campaign in 2008.
Conclusion
Forex trading is a popular way to make money in South Africa, and the country’s top traders have made a fortune by capitalizing on the world’s currency markets. In this article, we’ve looked at the eight richest forex traders in South Africa, all of whom have built their wealth through savvy investments and intelligent trading strategies. If you’re looking to get started in forex trading, then these individuals are definitely worth studying and learning from.