When we were on our lunch break in school we mostly worried about having enough cash to get ourselves a can of Coke from the vending machine, but one 17-year-old managed to use his time a bit more wisely.
Mohammed Islam is yet to graduate from high school and is just 17, but even at that he's still managed to get his net worth up to a cool $72 million (nearly €58 million), give or take.
Islam has been trading penny stocks since the ripe old age of nine, but got out of the game after he lost much of the money he made tutoring in a few bad runs. However, he decided that, having taken inspiration from Paul Tudor Jones (a billionaire hedge-fund and asset manager) he would have to be a bit more gutsy and get back in to it, even if it meant suffering losses again and again.
He hasn't suffered too many losses however, as his staggering worth is backed up by the BMW he bought himself (he can't drive it yet though) and the apartment he owns in Manhattan which he's not allowed to live in because his parents won't let him move out of home just yet. He and his two friends, who are involved in the operation with him, don't have to make do with the food in their high school cafeteria in Queens anymore either, as they regularly head to New York hot spot Morimoto, where they "enjoy $400 caviar and fresh-squeezed apple juice".
Their plan is to start a hedge-fund next year when they've all graduated, and after they've managed to get their broker licences. They also plan to attend college, but will have a cool billion dollars in their pockets in a year's time, according to their calculations.
Via Market Watch