James Cayne

James Cayne is a renowned American businessman and the former CEO of Bear Stearns. He became the first ever Wall Street chief to own a company stake of over $1 Billion.

Rags To Riches Story

    • 1

      James Cayne was born on February 14, 1934 at Evanston, Illinois and attended Purdue University but did not finish his graduation, as he joined the United States Army.

    • 2

      James Cayne father was a patent legal representative and his mother Bulah Cayne was a house wife.

    • 3

      During 1964, while his marriage was not working out he left Chicago and moved to New York. He drove cabs and sold scrap metal to earn living during that period.

    • 4

      James Cayne has keen interest in bridge and in 1966 he won his first national tournament. Since then he has won over a dozen North American championships.

    • 5

      In 1969, while he was playing bridge in New York City, a relative hired him as a stockbroker at Bear Stearns.

    • 6

      James Cayne became president in 1985, followed by CEO in 1993, and Chairman of the Board in 2001.

    • 7

      He became the first Wall Street Chief to own a company stake worth more than $1 Billion.

    • 8

      He was ranked among the 400 richest Americans in 2005, with a net value of $900 Million.

    • 9

      In 2008, he lost most of his fortune due to the Bear Stearns collapse and sold his stake for $61 Million.

    • 10

      James Cayne is a member of a secret society called Kappa Beta Phi, which comprises of high ranking financial executives. On 2009, his net worth was assessed at around $61 Million.