How Much is Steve Grasso Worth?
Whenever you hear the name Steve Grasso, you may think about the television show, "The Apprentice." But how much is Steve Grasso worth? And is he married?
Steve Grasso's life story
Known as the host of the popular CNBC program Fast Money, Steve Grasso is an expert in the markets. Grasso has worked with mutual funds, pension funds, and insurance companies globally. He also serves as an adviser to numerous boards of directors of companies. He has a wide network of contacts in the financial industry, and is able to provide introductions to key industry participants.
Grasso began his career on the floor of the New York Stock Exchange in 1993. He then served as an institutional sales trader at Stuart Frankel & Co., and eventually became the managing director of institutional sales. He is currently based in Linden, New York, and is considered to be one of the most influential market analysts in the world. He has also served on several committees that assign new listings. Grasso has a strong track record in the financial industry, and has been at the top of his game since 1995.
Before joining the NYSE, Grasso worked for several brokerage firms. He studied accounting part-time at Pace University in lower Manhattan. He also served two years in the U.S. Army during the mid-1960s. He began his career by investing $1,000 in his first stock. He later went on to earn a degree in finance from Cornell University. His parents, who were born in Italy, moved to the United States when he was a child.
After graduating, Grasso worked as an executive vice president for a capital group and marketing department. He then moved up to the executive vice president and director of listings and marketing. Grasso also served as president of the New York Capital Group from 1986 to 1988. He was then promoted to president and chief operating officer of the NYSE's capital group. He was then promoted to chairman of the NYSE in June 1995. Grasso's priority was to regain order flow in listed stocks.
The NYSE is one of the most influential exchanges in the world. In 1997, the Big Board's share of trading volume grew to 84 percent. This rise was partially due to the closing of Smith Barney's desk on the CSE in 1996. However, the Pacific Exchange and OptiMark Technologies are challenging the Big Board's dominance in the marketplace. The two exchanges have the potential to drain the Big Board of order flow.
Grasso has also been a staunch advocate of foreign company listings. He has lobbied companies and has done so publicly and privately. Grasso has also fought against Nasdaq, arguing that the exchange lacks liquidity and prestige. He has been particularly vocal about the delisting of Microsoft and Intel.
Grasso is a well-known market analyst, and his life story offers an interesting perspective on the world of Wall Street. While he prefers to keep his personal life private, he does not disclose his height or education. He has worked in the financial industry for over two decades, and is a market analyst with a wide network of contacts. He speaks frequently at business roundtables and trader conferences. He is also a contributing cast member on CNBC's Fast Money show.
Steve Grasso's social media accounts
Grasso has been in the industry since the early nineties and has been involved in the industry as a trader and consultant. He is also a Phi Beta Kappa member and a Harvard Law School alum. For example, he co-founded an educational foundation to train future financial professionals and served on several NYSE committees.
It is not surprising that Grasso is a member of several elite trade associations and has been a participant in many trade and investment conferences across the United States. He has also been involved in the development of a standardized test for continuing education for the floor community. Aside from these high-level tasks, Grasso has been a business advisor, board member and investor at the most senior levels. He has also been an active member of the media. He has also been a public speaker at numerous conferences and conventions. Among these is the Fast Money, a daytime show that airs on Monday through Friday and boasts an average viewership of over two hundred and fifty thousand. The show has a special attention to the news and financial markets of the day.
In addition to the aforementioned show, Grasso is a market analyst for CNBC. He has been a frequent guest on the network's coveted nightly newscasts and has also been a market commentator on CNBC's flagship program, the Markets. His spiel is to inform the viewers about the important developments affecting the markets of the day. He also has his finger on the pulse of the business community and the economics of the upcoming economic recovery. He has a wealth of information about the business of finance, a subject he is very well suited to handle. He has also been involved in a number of philanthropic endeavors. He has been the recipient of many accolades, and is the proud recipient of a number of awards, among them the prestigious CNBC News Distinguished Analyst Award.
Steve Grasso is also an active Twitter user and his twitter account is one of the most followed on the network. As of November 18, he has 2,647 followers. In fact, Grasso has been one of the top rated users for a good part of the last decade.
Steve Grasso's wife
Grasso is a famous market analyst, and he's also the host of CNBC's Fast Money, one of the most popular financial shows on television. His career began on the trading floor of the New York Stock Exchange, and he is now the managing director of institutional trading for Stuart Frankel & Co. Inc. He also advises many company boards. He's been on several committees to determine new listings and devise standardized assessments for continuing education.
Grasso was hired by the exchange as a union clerk at the age of 22. He was groomed for bigger things by the chairman and CEO, Gerald Phelan, who was then No. 2. Phelan, who was planning to step down as chairman and CEO in 1984, gave Grasso assignments to help broaden his experience. He was sent to Harvard to complete a special management training program.
A director who was a member of the comp committee that approved Grasso's contract resigned from the board in early 2004. He said he did not understand the details of Grasso's pay because he did not ask enough questions. The board planned to disclose executive pay in early 2004. But before the report was released, news of the payout leaked. In August, the board announced Grasso would receive $140 million. Some directors said they were confused, while others said they had been misled. The SEC joined the investigation.
Then, Grasso asked to accelerate vesting of a special $5 million bonus payment for 2000. He also asked to transfer $51.5 million in his retirement account to a NYSE savings account. Grasso said the money would be used to invest. But Vedder Price accountant Bob Stucker said the proposal presented due diligence issues. He said it would be rare for a senior executive to receive a pre-retirement payment. Then, in 1999, Grasso signed a second five-year contract.
According to the Journal, Grasso's pay package included a $140 million payday, a pre-retirement payout of between $80 million and $100 million, and a retirement package of between $29.9 million and $39.9 million. This compensation was allegedly in violation of NYSE law.
Grasso's compensation package is expected to go to trial in January. In an effort to settle the case, New York Attorney General Eliot Spitzer has offered to pay Grasso $50 million if he returns the money he received. Other directors have argued that they are not interested in settling, and would prefer the case go away quietly. But Grasso says he has no intention of returning the money. He says he will instead donate the money to a charity.
The board of directors at the New York Stock Exchange announced its decision to pay Grasso $140 million in August. It cited the director's role in a committee that recommended bonus awards exceeding benchmarks by $15.7 million. But some directors say they were confused and did not understand what Grasso received.
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