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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.
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.
James Cayne father was a patent legal representative and his mother Bulah Cayne was a house wife.
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.
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.
In 1969, while he was playing bridge in New York City, a relative hired him as a stockbroker at Bear Stearns.
James Cayne became president in 1985, followed by CEO in 1993, and Chairman of the Board in 2001.
He became the first Wall Street Chief to own a company stake worth more than $1 Billion.
He was ranked among the 400 richest Americans in 2005, with a net value of $900 Million.
In 2008, he lost most of his fortune due to the Bear Stearns collapse and sold his stake for $61 Million.
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.