Net Worth: $800 Million
About Edward Thorp
American professor and hedge fund manager Edward Oakley Thorp has an estimated net worth of $800 million in 2012.
Edward Oakley Thorp was born on August 14, 1932 in Chicago Illinois. He is a graduate of University of California Los Angeles. After completing his doctorate degree from UCLA, he started working for MIT until 1961. From 1961 through 1965, he joined New Mexico State University as a professor. From 1965 through 1977, he worked as professor of mathematics at the University of California, Irvine. From 1977 through 1982, he became a professor of finance and mathematics.
Edward Oakley Thorp is known for his impressive ability to utilize his knowledge on probability and statistics in the stock market. He makes use of his acquired knowledge on discovering and exploiting a number of pricing anomalies. Princeton/Newport Partners is his first ever hedge fund. Currently, he sits as the President of Edward O. Thorp & Associates, a company based in Newport Beach California.