What is Peter Cruddas' Net Worth?
Peter Cruddas is an English businessman and banker who has a net worth of $1.3 billion. Peter Cruddas has accumulated his wealth as the founder of CMC Markets, a London-based online financial retailer, where he also serves as CEO. He was born on 30 September 1953 in Hackney, London. Cruddas was only 15 when he left Shoreditch Comprehensive without any qualifications. Nevertheless, the following year he managed to find a job as a telex operator in London for the Western Union. After gaining enough experience, he finished with Western Union and relocated to the foreign currency department of various financial institutions including Marine Midland and Bank of Iran. He left his career as a foreign exchange dealer in 1989 to start his own company, today's CMC Markets, with an investment of about £10,000.
Now, the company is worth more than £1.2 billion and is making a big success in the business of foreign currency exchange. A great supporter of the Conservative Party, it was in 2012 that became the co-treasurer of the Party. But after the The Sunday Times reported that the British Prime Minister David Cameron and the chancellor George Osborne received an offer from Cruddas for cash donation of about £250,000, he resigned from his post as the co-treasure. In 2013, he filed a defamation case against the Sunday Times. Cruddas demanded a libel and the court awarded him about £180,000 for the defamation case. A great philanthropist as he is, he formed "Peter Cruddas Foundation" to help children who come from poor background to advance in society. Several famous people chaired his foundation, including Baron Young of Graffham and David Young.
