Timothy Sykes’ Net Worth (Updated 2023) | Inspirationfeed (2024)

Timothy Sykes is an American stock trader, penny stock expert, and entrepreneur who is best known for turning his Bar Mitzvah gift money worth $12,415 into $1.65 million by day trading.

Sykes is a self-made millionaire who delights in sharing his wealth secrets.

Timothy Sykes was born on April 15, 1981, in Orange, Connecticut, to Joel Sykes and Jo-Ann Sykes.

Sykes attended Amity Regional High School and Tulane University. He graduated from Tulane in 2003 with a bachelor’s degree in philosophy as well as a minor in business.

Timothy Sykes began trading penny stocks in 1999 while attending Tulane University. He converted $12,415 which he had received in Bar Mitzvah gift money into over $1.65 million.

In 2003, Sykes invested $1 million received from his family and friends in founding a short bias hedge fund known as Cilantro Fund Management. Cilantro was ranked the #1 long-short microstock hedge fund in the United States by the Barclay Group from 2003 to 2006. In 2006, Sykes featured on Trader Monthly’s ’30 Under 30 List of upcoming traders.

In 2008, Timothy Sykes attempted to recreate his initial trading success by investing $12,415 in a firm known as Transparent Investment Management (TIM). The investment turned into more than $90,000 after two years.

In 2007, Sykes launched TimothySykes.com, a website through which he shares valuable penny stock trading tips.

In 2009, Sykes founded Investimonials.com. The website is dedicated to collecting user reviews of financial brokers as well as books and videos. Sykes is also associated with Profit.ly, a social service that he founded in 2011 with a view to providing stock trade information on the internet.

Timothy Sykes currently works as a financial consultant and educator.

As of 2023, Timothy Sykes had a net worth of $20 million. He has earned his wealth from his career as a penny stock trader.

Over the years, Sykes has continually multiplied his wealth by undertaking multiple ventures. He reportedly makes $4 million from his various engagements every year, $250,000 of which comes from day trading alone.

Besides stock trading, Sykes’ other notable income earners include writing and television appearances.

Sykes has a self-published book known as ‘An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund. The book, which he published in 2007, documents Sykes’ day trading experience right from his humble beginnings in Tulane University.

On television, Sykes is best known for making appearances on the reality TV show Below Deck.

1. You can’t win if you aren’t prepared to lose

Many people consider Timothy Sykes as one of the luckiest penny stock traders alive. But converting $12,415 into $1.65 million from daytime trading wasn’t just a matter of sheer luck. It also had a lot to do with Sykes’ willingness to take calculated risks.

Sykes could have chosen to hold on to his Bar Mitzvah gift money, but he took a leap of faith that eventually paid huge dividends.

2. You succeed more by giving than receiving

Timothy Sykes understands one of the fundamental wealth creation secrets, which is giving back to the less fortunate. He founded the charity organization ‘Timothy Sykes Foundation’, through which he undertakes many of his charitable ventures. TSF has since raised $600,000 and also partnered with other organizations, including Boys and Girls Club and Make-a-Wish Foundation.

In 2017, Sykes donated $1 million towards the ‘Pencils of Promise’ initiative to aid in constructing 20 new primary schools across various countries, including Ghana, Laos, and Guatemala. The projects were set to be completed between 2017 and 2018. Sykes is also credited for founding Karmagawa, a charity that advocates for the preservation of natural resources while also assisting needy people around the world.

3. Speak out your mind, regardless of who gets offended

Sykes doesn’t shy away from speaking out against unethical business practices even if doing so ends up ruffling a few feathers.

He publicly condemned singer Justin Bieber and former professional basketball player Shaquille O’Neal for promoting “pump and dump” schemes. This is a scheme whereby an investor acquires stock and then inflates the price of those stocks by hyping people into purchasing them.