UPDATE: Mohammed Islam has confessed that he made up the whole story about being a millionaire. In an exclusive interview with New York Magazine, Islam said everything was fake, and that his parents practically disowned him. Read the full interview here.
You know the classic question “what would you do if you won the lottery?” Well, Mohammed Islam, a high school student from Queens, is going to face questions just like that one in the upcoming weeks. Except, he didn’t win the lottery. He reportedly made $72 million by trading stocks on his lunch breaks at Stuyvesant High School. Yep, you read that correctly. Most 17-year-olds are excited for their first paychecks of a couple hundred dollars from their summer jobs while this kid is a millionaire.
He bought himself a BMW and a Manhattan apartment, but he doesn’t have a driver’s license and his parents won’t let him move out. *Sigh* 17-year-old millionaire probs. The apparently modest and shy teen also frequents Morimoto on 10th Avenue for $400 caviar and freshly squeezed apple juice. Islam is of course doing more than living lavishly with his cash, though. His dad doesn’t have to work anymore, and he helps out his family with things as well.
He is the son of immigrants from the Bengal region of South Asia. His parents, we’re sure, are proud of their prodigy child. He began trading in penny stocks at age 9. At that time, he had lost money he had made tutoring. The loss “paralyzed” him, but he found inspiration to return to trading because of Paul Tudor Jones, who started Tudor Investment Corporation in 1980 at 26 years old. Jones faced his own losses at times, but continued anyway.
Islam and two other young wolves of Wall Street want to try to make a billion dollars by next year, all while attending college. Whatever college they attend will be incredibly lucky to have them. The fact that they are still planning to go to college while making that much money says something in itself. Props to being rich and wanting to get an education.
What do you think of Mohammed Islam’s luck?