Who is the Poorest Person in the World in 2021? Jerome Kerviel

Who is the Poorest Person in the World in 2021?

Jerome Kerviel is the poorest person in the world today. Jerome Kerviel is a French trader, consultant, and former employee at one of the largest banks in Europe, Société Générale. On 19th January 2008, the employers of Jerome Kerviel uncovered unauthorized trade amounting to $6.3bn.

How Did Jerome Kerviel become the Poorest Man in the World?

Jerome Kerviel is the most indebted person in the world. He owes $4.9 billion to the Societe Generale where he worked as a trader due to unauthorized trades. Because of this Jerome Kerviel is the poorest man in the world.

Jérôme Kerviel was born on 11 January 1977 and was convicted and imprisoned in 2008 for Société Générale trading loss, breach of trust, forgery, and unauthorized use of the bank’s computers, resulting in losses valued at €4.9 billion.

Jerome Kerviel before his arrest in 2008 was a trader earning over US$66,000 per year at Societe Generale, one of the largest banks in Europe. By January 9, 2008, Jerome had amassed a stock index futures position of US$73 billion.

Even though Jerome admitted making these unauthorized trades costing the bank and its customers over $6.3bn, he alleges that the management of the bank was aware and turned a blind eye to the trades since they were going well. The bank however turned against him when things turned against his good fortunes.

An internal audit carried out in the bank found managers at the bank had failed to follow up on tens of different alarms over Kerviel’s activities. A number of resignations followed, but no other charges were pressed.

Kerviel was found guilty for the third time of placing €50bn worth of loss-making trades, with the courts rejecting his final appeal.

This is the reason Jerome Kerviel became the poorest man on Earth and part of every money he makes on earth will go into paying off his debts. A debt he will never be able to finish paying.

Early Life of Jerome Kerviel

Jerome Kerviel grew up in Pont-l’Abbé, Brittany. His mother is a retired hairdresser called Marie-Josée, and his father, Charles, was a blacksmith. Jerome has an older brother called Olivier.

Kerviel graduated in 2000 from;Lumière University Lyon in France with a Master of Finance ;specializing in organization and control of financial markets. Jerome before enrolling for his masters program received a bachelor’s degree in Finance from the University of Nantes.

What’s Jerome Kerviel net worth?

Jerome Kerviel has an estimated net worth of -$6.7 billion; making him the poorest man in the world. This means that Jerome has absolutely nothing to his name but rather owes the French bank Société Générale $6.7 billion.

What does Jerome Kerviel do now?

Kerviel, who left prison in 2014 after a three-year sentence, has used his fame to turn against his former bosses and crusade against the ills of the financial world.

He has also given talks to companies on risk management and written two books. He also served briefly as CEO of Galway United Football Club.

Jerome who is currently the poorest person on earth sought to portray himself after prison as a victim of the corrupt banking system and published a book in 2010 whose titled translates roughly as “The Gears: Memoirs of a Trader.” Kerviel in 2014 made a pilgrimage by foot to Italy to meet the pope and discuss the problems of modern capitalism.

Who is the poorest person in world?

Jerome Kerviel is the poorest person on the planet. The above explanation is the reason why Jerome Kerviel is the poorest person on earth. He owes the Société Générale bank and trading group in France an amount of $6.3Bn

Who is the Poorest Person in the World in 2021? Jerome Kerviel