People are working so hard to save for their future and also for their investments for a rainy day. One such person is Peter Lynch who is an American investor, a manager of funds from different investors and a promoter of other people’s welfare through his generous contributions. Today let us learn more about the career, biography and net worth of Peter Lynch in 2019.
Early Life & Biography
Peter was born on 19th January 1944 in a suburban town of Newton. Peter studied the human mind and its function, philosophy in Boston College and graduated in 1956. He did business administration in the University of Pennsylvania and acquired a master degree in business management. While Peter was in the second year in Boston College Peter used his savings to invest in Flying Tiger Airline shares. He bought one hundred shares at eight dollars per share and later the shares traded at eighty dollars per share.
In 1951 when Peter was only seven years old, his father was diagnosed with cancer. Three years later he succumbed to the illness, living his wife to cater for the daily provision of the family.
Peter met the love of his heart, Carolyn Ann Hoff, while they were in Pennsylvania University where she graduated with a degree in physiology and physics. The duo married on 11th May 1968 and shifted to Marblehead in 1970. They had three daughters namely Mary, Annie, and Elizabeth. Peter and Carolyn co-founded the Lynch Foundation which was managed by the wife. Carolyn died in October 2015 while she was aged sixty-nine years after succumbed to Leukemia.
Career, Awards & Nominations
Peter started his career as an investor while he was in college when he bought shares from an airline company with his savings. Between 1977 and 1990 he was the manager of an investment company known Fidelity Investment to manage Magellan Funds where through his management, the firms experienced tremendous growth. The company’s assets increased from eighteen million dollars to fourteen billion dollars.
Peter is an author and has published two most famous books known as Learn to Earn, Beating the street and others. The books provided knowledge and wisdom to investors. He joined Junior Achievements in 1991.
Net Worth & Earnings
Peter has made a lot of earning from his investments and from Fidelity firm where he works as a vice chairman. He is the author of books on finance and investing. The books are highly demanding in the market because of their insight hence making him make a lot of earnings from their sales.
Overall Peter Lynch net worth is estimated to be over $400 million.
When you talk of someone who has given back to the society through giving, Peter is a case study. He has positively impacted the nation through his mentorship programs. Peter gives to the community in many ways, for example, charitable gifts, through his Lynch Foundation, giving to individuals and other means. He has offered to support religious organization, education, hospital and medical institutes.