Mohammed Islam has since admitted he lied to New York Magazine and did not make any money on the stock market, an Observer interview reveals. New York magazine has retracted the story and apologized.
He’s the teen wolf of Wall Street is only 17 and still months away from graduating — but worth a rumored $72 million. “The high eight figures,” is as specific as the shy and modest teen would get when asked his net worth.
Still, the cherubic prodigy is living, and dreaming, large.
“What makes the world go round?” Islam asked in the interview, explaining his preference for trading and investment over startups. “Money. If money is not flowing, if businesses don’t keep going, there’s no innovation, no products, no investments, no growth, no jobs.”
Islam bought himself a BMW but doesn’t have a license to drive it. And he rented a Manhattan apartment, though his parents, immigrants from the Bengal region of South Asia, won’t let him move out of the house yet.
Islam and a pair of other young hope to start a hedge fund in June, after Islam turns 18 and can get his broker-dealer license.
“Mo’s our maestro,” one of the kids explained.
“We want to create a brotherhood. Like, all of us who are connected, who are in something together, who have influence. “Like the Koch brothers,” he added, referring to sibling oil magnates Charles and David, worth $40 billion each.
Islam’s biggest inspiration, though, is Paul Tudor Jones, because he was able to go back to it, even after losing thousands of dollars over and over,” he said
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