Thomas Peterffy Net Worth & Biography

Born in Budapest Hungary, Thomas Peterffy is an American businessman and investor who is best known as the founder and chair of Interactive Brokers. His journey to success all started when he moved to the United States to escape communism in his country. On entering a new company, incapable of speaking in English initially, he worked for an engineering company that worked on highway projects as an architectural draftsman before choosing other options when he had the chance. He left his work as a designer of financial modeling software and purchased a seat on the American Stock Exchange. From there, he founded his company Interactive Brokers which is a discount brokerage firm in the United States that operates online. Currently, Thomas Peterffy is listed as one of the three wealthiest businesspersons in Connecticut and among the top 100 billionaires in the United States. He actually went from being a struggling immigrant to becoming one of the richest people alive, and his story, all provided in the article below, serves as an inspiration to the upcoming generation of entrepreneurs.

Early Life: Childhood, Education

The businessman was born on the 30th of September 1944, in Budapest, Hungary. In 1956 when he was 12 years old, his father moved to the United States after the failure of the Hungarian Revolution in 1956. Nine years later, he left his engineering studies in his country and emigrated to the United States to join his father in New York. He couldn’t communicate in English when he entered the United States, and it made it difficult for him to continue his education. However, he proceeded with all the determination in the world as his eyes were always set on the goals he had in front of him. He learned English and bagged a Bachelor of Science degree from Clark University before starting his professional career as a computer programmer, specializing in designing software programs.

Professional Life: Business Career

When he moved to New York City in the United States, Thomas Peterffy did not speak English. He started his career in the United States as an architectural draftsman who worked for an engineering company that specialized in highway projects. After a while, he abandoned his work of designing financial modeling software and purchased a seat on the American Stock Exchange where he actively traded equity options. During his career in finance, Mr. Peterffy has consistently pushed to replace manual procedures with more efficient, automated ones. He always had an idea in programming and would write code in his head during trading hours and then apply his thoughts to computerized trading methods after hours.

In the early 1980s, he developed a major stir among fellow traders by introducing handheld computers onto the trading floor. His enterprise related to his AMEX seat later developed into Interactive Brokers, an online company that he led as the chief executive officer until 2019 when he stepped down from the role.

Achievements: Award & Honors

He has been able to pick up a few awards and accolades for his accomplishments in business. One of the most significant is his recognition in 2017 when he was honored with the Hungarian Order of Merit by the government of Hungary.

Personal Life: Wife, Children, Private Interests

Mr. Peterffy is divorced, with three children. He resides in Palm Beach, Florida.

An avid equestrian, this businessman recently sold his 80-acre Connecticut estate for $21 million after failing to find a buyer for the initial listing price of $65 million.

When not running his business, Mr. Peterffy cares for the horses he owns in Greenwich, Connecticut.

Thomas Peterffy Net Worth

A deeply admired and respected Hungarian-born American billionaire, Thomas Peterffy has been able to build a successful career almost out of nothing. Thomas Petterffy currently has a net worth of $17 billion dollars, which makes him one of the richest residents of Connecticut.

After moving to the United States in the mid-60s, he struggled to complete his education before landing a seat on the American Stock Exchange. Fast-forward to the early 90s, Mr. Peterffy started his own company, the successful electronic brokerage firm called Interactive Broker. He owns a 74.9 percent share of the Interactive Brokers Group, which he manages through IBG Holdings, an umbrella company that he also owns 88.7 percent of. His earnings in recent times have been incredible indeed. When the Interactive Brokers Group went public in 2007, he earned about $1 billion and has also collected $3 billion worth of dividends to date. He spends some of his money on real estate and owns a number of properties within the United States.