If you've been watching the disgraced former MF Global chief Jon Corzine's testimony to Congress today, you probably wouldn't want to be in his place. According to BusinessInsider the multi-millionaire was basically on top of the world having served as chief executive of Goldman Sachs, New Jersey Governor and a U.S. Senator and ultimately falling with the bankruptcy of broker-dealer MF Global. What you might not know about Corzine is how he grew up. He wasn't always a multimillionaire chief executive. In fact, he comes from very humble conditions.
What's more is there's a handful of other Wall Streeters who started their lives in either impoverished or very humble conditions before they made their journey to the top of the financial world. Some of them might surprise you….
Jon Corzine: Disgraced former MF Global chief executive Jon Corzine touted his humble beginnings during political campaigns for office. Corzine grew up on a small family farm in Illinois. His father farmed the land and sold insurance and his mother taught elementary school. .. He later became the chairman and CEO of Goldman Sachs. When he left Goldman he was believed to have a net worth of $350 million.
Gary Gensler: Gensler, the chairman of the Commodity Futures Trading Commission, grew up in a working-class home in Baltimore, Maryland. His father was a cigarette and pinball machine vendor for local bars. He graduated public school and later attended the University of Pennsylvania where he obtained his undergraduate degree and his MBA. Then Genlser went to work for Goldman Sachs where he stayed for 18 years and became a multi-millionaire….
Sidney Weinberg: Weinberg, the legendary Goldman Sachs CEO who passed away last year, was born the son of a poor Polish liquor dealer in Brooklyn. Weinberg, a high school dropout, got his start on Wall Street at the age of 16 working as an assistant to the janitor making only $3/week. The firm's founder Paul Sach's grandson took a liking to Weinberg and had him promoted to the mail room. Eventually Sachs sent Weinberg to Browne’s Business College, in Brooklyn. He was eventually given a seat at the NYSE by the firm. Weinberg worked his way up the ladder being promoted to partner, senior partner and ultimately chief executive officer....
Read more at http://www.businessinsider.com/fact-jon-corzine-came-from-nothing-and-so-did-these-9-other-wall-streeters-2011-12#ixzz1g4F7RFOT
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