What if I told you that you could be a millionaire simply by trading penny stocks! Sounds crazy, right? But the same thing happened with Timothy Sykes. Born in Orange, Connecticut in 1981, Timothy used his Bar Mitzvah gift money to earn over a million via day trading when he was in college. When he invested, his parents thought that he would lose all the money and that it would be a failed project. But he surprised his parents as well as everyone else by making $1.65 million.
Net Worth of Timothy Sykes
As of 2021, the estimated net worth of Timothy Sykes is around $15 million. And Sykes is one of the few entrepreneurs who can claim to be a self-made millionaire.
Birth & Early Life
Timothy Sykes was born in Connecticut on 16th April, 1981. He did his Bachelor’s in Philosophy from Tulane University in 2003. When he was at Tulane, he started day trading. The primary source of funds was the Bar Mitzvah gift amount of $12,415.
As a child, he dreamed of becoming a tennis player. But he was faced with an injury that prevented him from pursuing the career of a tennis player.
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Timothy Sykes’ career took off while he was in college. He became a penny stock trader at a very early age. He got a gift amount of over $12,000 at Bar Mitzvah. Soon he made $1.65 million out of it and founded the Cilantro Fund Management LLC in 2003. His company was ranked #1 on the list of short bias hedge funds by BarclayHedge from 2003-2006.
It was also in 2006 that Sykes’ name appeared on Trader Monthly’s ‘Top 30 Under 30’ list of successful traders in the market. The next year, he self-published a book named ‘An American Hedge Fund: How I Made $2 million as a Stock Operator & Created a Hedge Fund’. The book contains his experiences in day trading and becoming a successful hedge fund manager.
Timothy Sykes worked as a financial educator and activist. He launched TimohtySykes.com in 2007, Investimonials.com in 2009, and co-founded Profit.ly in 2011. TimohtySykes.com mainly acts as his personal blog via which he teaches penny stock trading. Investimonials.com is a collection of reviews of financial services and brokers. And Profit.ly provides stock trade information.
Timothy also donated $1 million to build schools across Laos, Ghana, and Guatemala; and has a charity organization named Karmagawa for helping animals.