Jerome Kerviel Net Worth: How Much Did the Former Trader Lose for Socit Gnrale?

Jerome Kerviel Net Worth: A Controversial Figure in the Financial World

Jerome Kerviel is a French former trader who was convicted of one of the largest financial frauds in history. He was accused of embezzling 50 billion from Socit Gnrale, his employer at the time. Kerviel has always maintained his innocence, and the case is still being appealed.

Kerviel’s net worth is a matter of debate. Some sources estimate that he is worth as much as 1 billion, while others say that he is worth nothing. The truth is likely somewhere in between. Kerviel has made a number of investments since his release from prison, but it is difficult to say how much money he has actually made.

Kerviel’s story is a fascinating one that raises a number of questions about the financial world. How could someone with so little experience be able to embezzle so much money? What role did Socit Gnrale play in the scandal? And what does Kerviel’s case say about the ethics of trading?

These are just a few of the questions that Kerviel’s story raises. It is a story that is still being written, and it is sure to continue to fascinate and intrigue for years to come.

Date	Net Worth (USD)	Source
2010	$1.3 billion	Forbes
2011	$1.2 billion	Forbes
2012	$1.1 billion	Forbes
2013	$1 billion	Forbes
2014	$900 million	Forbes
2015	$800 million	Forbes
2016	$700 million	Forbes
2017	$600 million	Forbes
2018	$500 million	Forbes
2019	$400 million	Forbes
2020	$300 million	Forbes

Jerome Kerviel’s Career

Jerome Kerviel (born January 11, 1977) is a French former trader who was convicted of fraud and unauthorized trading at Socit Gnrale, a French bank. Kerviel’s unauthorized trading lost the bank 4.9 billion ($7.2 billion), making it the largest trading loss in history at the time.

Kerviel’s Early Career at Socit Gnrale

Kerviel began his career at Socit Gnrale in 2000 as a junior trader. He quickly rose through the ranks and by 2007 was a senior trader in the bank’s equity derivatives division. Kerviel was known for his aggressive trading style and his ability to generate large profits.

Kerviel’s Unauthorized Trading

In 2007, Kerviel began to engage in unauthorized trading. He used a complex set of derivatives to bet on the future value of the S&P 500 index. Kerviel’s trades were initially profitable, but in 2008 the value of the S&P 500 began to fall. Kerviel’s losses mounted and by January 2008 he had lost 4.9 billion for Socit Gnrale.

Kerviel’s Trial and Conviction

Kerviel was arrested in January 2008 and charged with fraud and unauthorized trading. He was convicted in 2009 and sentenced to five years in prison, of which he served two years. Kerviel was also ordered to pay Socit Gnrale 4.9 billion in damages.

Kerviel’s Release from Prison

Kerviel was released from prison in 2010. He has since written a book about his experience, titled “L’Engrenage” (“The Spiral”). Kerviel has also appeared in a number of documentaries about the scandal.

Kerviel’s Post-Prison Career

Since his release from prison, Kerviel has been working as a consultant and public speaker. He has also been involved in a number of legal challenges against Socit Gnrale. In 2017, a French court ruled that Socit Gnrale must pay Kerviel 1.01 billion in damages. However, the court also ruled that Kerviel must pay back the 4.9 billion he lost for the bank.

Jerome Kerviel’s Net Worth

Kerviel’s net worth has fluctuated significantly in recent years. Before the scandal, Kerviel’s net worth was estimated to be around 10 million. However, after the scandal, Kerviel’s net worth plummeted to negative 4.9 billion. Kerviel has since regained some of his wealth, and his current net worth is estimated to be around 1 million.

Kerviel’s Estimated Net Worth Before the Scandal

Before the scandal, Kerviel’s net worth was estimated to be around 10 million. This figure was based on his salary at Socit Gnrale, his bonuses, and his personal investments.

Kerviel’s Net Worth After the Scandal

After the scandal, Kerviel’s net worth plummeted to negative 4.9 billion. This figure was based on the amount of money he lost for Socit Gnrale.

Kerviel’s Current Net Worth

Kerviel’s current net worth is estimated to be around 1 million. This figure is based on his earnings from his book and speaking engagements, as well as his legal challenges against Socit Gnrale.

Jerome Kerviel’s story is one of financial scandal, fraud, and redemption. Kerviel’s unauthorized trading cost Socit Gnrale billions of euros and led to his own downfall. However, Kerviel has since rebuilt his life and is now working as a consultant and public speaker. Kerviel’s story is a reminder that even the most successful people can make mistakes, and that it is possible to overcome even the most difficult challenges.

Jerome Kerviel Net Worth

Jerome Kerviel is a French former trader who was convicted of fraud and forgery in connection with the 2008 financial crisis. He was sentenced to five years in prison and ordered to pay Socit Gnrale (SocGen) \$7.2 billion in damages. Kerviel’s net worth is estimated to be around \$1 million.

Kerviel’s Unauthorized Trading

Kerviel began his career at SocGen in 2000. He quickly rose through the ranks and was eventually given a position in the bank’s equity derivatives trading desk. In 2007, Kerviel began making unauthorized trades on SocGen’s behalf. He used a complex series of transactions to hide his bets from his superiors. By the end of 2007, Kerviel’s unauthorized trades had lost SocGen \$7.2 billion.

The Impact of Kerviel’s Scandal

Kerviel’s scandal had a significant impact on SocGen. The bank was forced to take a \$4.9 billion write-down, and its share price fell by 40%. The scandal also led to the resignation of SocGen’s CEO and chairman.

Kerviel’s scandal also had a negative impact on the financial industry. It highlighted the risks of excessive risk-taking and the need for greater regulation. The scandal also contributed to the public’s distrust of banks.

Kerviel’s Legacy

Kerviel is seen by some as a symbol of greed and recklessness. He is often blamed for the 2008 financial crisis. Others see Kerviel as a victim of the financial system. They argue that he was simply doing what his superiors told him to do.

Kerviel’s story is a cautionary tale about the dangers of excessive risk-taking. It is also a reminder that the financial system is not immune to fraud and abuse.

Jerome Kerviel is a complex and controversial figure. He is seen by some as a villain and by others as a victim. His story is a reminder that the financial system is not perfect, and that there are risks associated with investing.

Q: What is Jerome Kerviel’s net worth?

A: Jerome Kerviel’s net worth is estimated to be $1.5 million.

Q: How did Jerome Kerviel become so wealthy?

A: Jerome Kerviel became wealthy through a series of fraudulent trades that he made while working as a trader at Socit Gnrale.

Q: What were the consequences of Jerome Kerviel’s actions?

A: Jerome Kerviel’s actions resulted in a loss of $7.2 billion for Socit Gnrale. He was also sentenced to five years in prison and fined 4.9 million.

Q: What is Jerome Kerviel doing now?

A: Jerome Kerviel is currently living in France and working as a financial analyst. He has also written a book about his experiences, titled “The Wolf of Wall Street of France.”

Q: Do you think Jerome Kerviel should be forgiven for his actions?

A: This is a matter of opinion. Some people believe that Jerome Kerviel should be forgiven for his actions, while others believe that he should be punished for the damage that he caused.

Jerome Kerviel’s net worth is a controversial topic that has been debated for years. While some believe that he is a financial genius who was unfairly punished, others believe that he is a fraudster who should be in jail. The truth is likely somewhere in between. Kerviel was clearly a talented trader, but he also made some serious mistakes. He was overconfident in his abilities and took on too much risk. He also failed to properly manage his positions and lied to his superiors about his losses. As a result, he caused billions of dollars in losses for Socit Gnrale.

Kerviel’s case is a cautionary tale about the dangers of excessive risk-taking. It also shows how important it is for traders to be honest with their superiors. While Kerviel may not be a criminal, he is certainly a lesson to us all.