Many people turn to the stock market in hopes of making a quick fortune. Unfortunately, the vast majority of these individuals fail to turn a significant profit. However, some business savvy individuals are able to make wise financial decisions that pay handsomely. With the rise of social media and the Internet, these successful traders are able to share their formulas with others.
A self-made millionaire, Timothy Sykes is one of the leading figures in the world of penny stock trading. Not only has he earned a great deal of money by trading these sub-$5 shares for profit, but he also has devoted himself to teaching others how to find success on Wall Street as well.
While he is a highly sought after teacher and makes appearances on many television shows, there are some facts that most people do not know about the millionaire. His story is one that can motivate and inspire others to pursue their dreams of wealth and stability. Here are some of the lesser known facts about the wildly successful Timothy Sykes.
10. He started out with his Bar Mitzvah money
While $12,000 may seem like a great deal of money for most high schoolers, Timothy Sykes saw it only as an opportunity for future profits. He began day trading penny stocks while in high school, using this Bar Mitzvah money. Incredibly, he ended up making over $1.6 million by age 21. This was the start of his lucrative career, and is undoubtedly one of the most impressive feats of his life.
9. He has replicated his initial success
In order to demonstrate that his formula was not a fluke, he repeated his process in 2008. He used the same starting point of just over $12,000, and turned it into over $90,000. By repeating the same steps and process, with the same starting amount, Sykes demonstrated that his methods are genuinely successful and hold up over time.
8. He is a prolific teacher
Not only is Sykes one of the most famous and successful penny stock traders, he is also generous with his knowledge. Through courses, DVD sets, and blogging, Sykes has educated thousands of students from over 60 countries around the world. He even includes books and other resources for free on his website. After attaining millionaire status, Sykes devoted the same energy that made him so successful in trading to educating others on his methods.
7. His students are successful as well
Naturally, teaching thousands of students would be pointless (or even damaging) if he were a lousy teacher. However, it is clear that his recipe for success is effective, as his students have been known to make hundreds of thousands of dollars.
In fact, Sykes has two students who have earned over $1 million: Michael Goode and Tim Grittani. These traders also make guest appearances on some of Sykes’ educational materials.
6. He went to school while earning millions
Of course, Sykes’ trading career began while he was still in high school. Afterwards, he attended Tulane University. Throughout his studies, Sykes was known for skipping class to trade penny stocks. However, he managed to graduate in 2003 with a degree in philosophy with a minor in business. His trading knowledge is self-taught.
5. He started a beauty pageant
Sykes’ pursuits are more diverse than making money trading. One of his notable side projects was creating a beauty pageant called “Miss Penny Stock.” Female representatives of his brand and company could participate in this spectacle.
On his blog, he explains that the purpose of the pageant is to reinvigorate students and keep them interested in the penny stock industry. There are hundreds of contestants in the pageant, and the top-placing participants are often featured in articles and at conferences.
4. He is engaged to a model
Timothy Sykes is living the life that most men only dream about. Not only is he incredibly wealthy, his wife is a supermodel. The much younger Bianca Alexa won the Miss Penny Stock title in 2013. The two were engaged to be married in 2015.
3. He was once a promising tennis player
Long before his lavish life as a millionaire with a supermodel fiancée, Sykes dreamed of becoming the top tennis player in the US. He was highly successful in his youth, making it all the way to the state finals in his junior year of high school. Unfortunately, an elbow surgery ended his career prematurely.
Given the lifestyle he enjoys today, he is probably content with the way things turned out.
2. He is prone to controversy
Many people are immediately jealous of people like Timothy Sykes, which is unsurprising considering his wealth, lifestyle, and cars. However, he consciously adds fuel to this flame. He is known for being pompous and brash. In fact, he is so unafraid of speaking his mind that he has accused celebrities like Justin Bieber and Shaquille O’Neil of participating in “pump and dump” schemes.
Further, despite his success and the success of his students, Sykes is not registered as an investment advisor. Many of his claims are supported only by his large fortune, instead of relevant documents.
1. He is very charitable
People who have amassed great wealth are often known to be the most frugal. Sykes, on the other hand, is more than willing to part with money in order to help people in need. He has donated millions of dollars to various charities, including Make-A-Wish, the Boys and Girls Club, Women of Tomorrow, and many others.
Further, Sykes established his own charity, the Timothy Sykes Foundation. He has written online about this experience. He holds that while his teaching materials can help many people earn money, there are plenty of intelligent and hard-working people who simply do not have the time or resources to study penny stock trading. These are the people he hopes to assist with his charitable donations.
Living a life of luxury, freedom, and extravagance is a dream for most people. A select few individuals are able to realize this dream. Timothy Sykes was able to begin this journey to great wealth while only a high school student. His trading skills have earned him millions and brought thousands of students to his courses.
While known to be arrogant and unabashed, Sykes is also committed to helping others in need. He is putting his great success to good use, teaching others how to find their own success in trading and helping the less fortunate.