Billionaire Refugee from Communism Gives Us a Little History Lesson

Under socialism, the rich get poorer but so do the poor

Why do so many of us refuse to learn from the past?

Thomas Peterffy is a Hungarian-born American entrepreneur who is the founder and CEO of Interactive Brokers, a discount brokerage firm.  Mr. Peterffy, whose net worth is estimated at $5 billion, escaped from Hungary in his early twenties, coming to the United States as a penniless refugee who could not speak English.  During the 1970s, this man turned a knack for computer programming into the phenomenal financial success that he enjoys today.

Peterffy began his career in the United States as an architectural draftsman working on highway projects for an engineering firm.  It was at this firm that he volunteered to program a newly purchased computer, ultimately shaping the course of his future.

In 1977, Peterffy abandoned his career designing financial modelling software and bought his own seat on the American Stock Exchange to trade equity options.

Peterffy would write code in his head during the trading day and then apply his ideas to computerized trading models after hours.  Peterffy created a major stir among traders by introducing handheld computers onto the trading floor in the early 1980s.  Peterffy’s business related to his AMEX seat eventually developed into Interactive Brokers.  Wikipedia

Drive, ingenuity, dedication, and an open opportunistic environment in which to work—these are the crucial foundational elements for any prosperous economy.  Wake up, America.

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3 Responses to Billionaire Refugee from Communism Gives Us a Little History Lesson

  1. Ceeto says:

    Great testamony to the AMERCAN WAY!

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