New York Teen Makes $70 Million While Eating High School Lunch
[youtube ytid=”https://www.youtube.com/watch?v=u_wqRwFZgNI?autoplay=1&w=580&h=385″ ]
You know how when you were in high school, you were always trying to borrow money from your parents or friends?
Mohammed Islam of Queens definitely does not have to do that.
Yesterday, New York Magazine ran a profile of Islam, who has amassed a net worth of $72 million trading stocks on his lunch break. This would be impressive no matter how old or experienced he was. Thing is…he’s 17 and goes to Stuyvesant High School in New York City.
“Mo,” as he is known to all, already rents an apartment in Manhattan and owns a BMW (neither of which his parents let him use yet) and is being offered millions of dollars to run his own hedge fund. He made his money investing in oil and gold, and although it’s unclear where he got his seed money (he may have gotten it from tutoring at age nine, somehow).
Question: why is Mo bothering to even get a job? If he’s really worth $72 million, couldn’t he just kind of cash out now, live a pretty awesome life, and never have to work another day?
UPDATE: Business Insider is now reporting that Islam’s stated wealth may be a bit overblown. The Investment Club for Young Traders-of which Islam is a member-issued to following statement to BI:
“It has been brought to the attention of the Leaders Investment Club that Mohammed Islam has been rumored to have made $72,000,000 through making trades in the stock market. After performing due diligence and talking with Mohammed Islam himself, we have determined that these claims are false and simply been blown up by the media in the interests of sensationalism.”
Islam has (probably purposely) remained silent, neither confirming nor denying his rumored net worth. Probably a smart move on his part.
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