Martin Edward Zweig was born on the 2nd July 1942, in Cleveland, Ohio USA, and was a businessman, financial analyst and stock investor, probably best recognized for predicting the 1987 market crash, as well as for owning one of the most expensive apartments in the US – atop The Pierre on Fifth Avenue in Manhattan. He was an active member of the business industry from the early 1970s until his death – he passed away in 2013.
So, have you ever wondered how rich Martin Zweig was? According to authoritative sources, it was estimated that Martin counted the total size of his net worth at the impressive amount of $600 million at the time of his death. This sum of money was accumulated through his successful involvement in the business industry.
Martin Zweig Net Worth $600 Million
Martin Zweig spent his childhood in Coral Gables, where he was raised by a single mother, as his father passed away. There, he went to Coral Gables Elementary, after which he attended Ponce de Leon Junior High School. Upon matriculation, he enrolled at the Wharton School of the University of Pennsylvania, from which he graduated with a BSE degree in 1964. Afterwards, he continued his education at the University of Miami, earning his MBA degree in 1967, after which he completed his PhD in finance from Michigan State University in 1969.
Martin began to invest in stocks when he was a teenager, and by the age of 13 had bought his first shares. After earning degrees, Martin invented a marked indicator called the puts/call ratio, reaching enormous success, and which marked the beginning of an increase of his net worth. Subsequently, he was hired to work as an investment newsletter writer by Barron’s Magazine, writing several articles in which he predicted the coming direction of the market.
In 1984, he met stock picker Joe DiMenna, and they together established Zweig-DiMenna Associates, Inc., in which he served in the position of the Chairman. Moreover, he started pursuing his career as an investment adviser on Wall Street, where he conducted exhaustive data studies, and in 1986 founded The Zweig Fund, after which his first book was published, entitled “Martin Zweig’s Winning On Wall Street”. In the following year, he published the book “Martin Zweig’s Winning With New IRAs”, in which he predicted the 1987 market crash. He also founded The Zweig Total Return Fund in 1988; all of these projects added a considerable amount of money to his net worth.
In addition to this, Martin also appeared as a financial analyst in the TV show “Wall $treet Week With Louis Rukeyser”, which was aired on the PBS channel, increasing further his net worth.
Beside that, Martin worked as the professor of finance at both Baruch College and Iona College, which also contributed to his wealth.
When it comes to speak about his personal life, Martin Zweig was married to Barbara Ann Digan from 1998 until his death. He was previously married to Mollie Friedman (1965-1997), with whom he had two sons. In spare time, he enjoyed playing poker and dancing salsa. He passed away three years after a liver transplant, at the age of 70. on the 18th February 2013 in Fisher Island, Florida.
