Jeffrey Sprecher, a well-known name in the American business world set up the foundations for Intercontinental Exchange. He also chairman’s the company and is the CEO of the company. In addition to that, he is also the chairman of the prestigious and one of the most happening and bustling places on earth, the New York Stock Exchange.
Jeffrey Sprecher’s Net Worth & Salary Statistics
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His very fancy resume lands him amongst the elite names in the business circle in the USA. Let’s have a look at Jeffrey Sprecher’s journey to success that has people drooling over his net worth. At the age of 65, this businessman is not taking it slow and is making every effort to have his name etched in the history of commerce forever.
Jeffrey Sprecher net worth:
It is estimated that Jeffrey Sprecher’s net worth as of 2022 is approximately 600 million US dollars.
Jeffrey Sprecher’s Salary:
Jeffery Sprecher’s base salary at Intercontinental Exchange is $1.05 Million & with stocks & option awards, bonuses, it sums up to $14.5 Million USD.
Jeffrey Sprecher’s Source of Income & Wealth:
His wealth should not come as a surprise to anyone. The kind of experience he has had plus the executive positions he holds in the world of economics and commerce are a direct indication of his millionaire status. Sprecher owns about 169,037 units of stocks in Intercontinental Exchange that are valued at 362,762,080 US dollars. Furthermore, in the past 8 years, he has sold many of his stocks in Intercontinental Exchange well worth over 218,092,126 US dollars.
In addition to his earnings from the stocks, Jeffrey Sprecher’s salary guarantees him the lifestyle fit for movie stars. Holding the position of a chief executive officer as well as the chairman of the board of Intercontinental Exchange, Jeffery Sprecher’s salary sums up to 14,408,900 US dollars. This is the highest salary paid to an executive at Intercontinental Exchange.
Since 2013, Jeffery has made over 28 trades of the Intercontinental Exchange Inc.’s stocks. His most recent activity was in February where he sold 169,037 units of Intercontinental Exchange stocks estimated to be worth $18,807,057.
- Biggest trade
His biggest trade was back in 2020 when he sold 191,994 units of Intercontinental Exchange Inc.’s stocks valued at $17,978,318. Jeffery’s average amounts to 34,211 units traded every 42 days.
As appraised on 26th May 2021, it is believed that Jeffery owns 3,151,705 units of stocks in Intercontinental Exchange Inc. So without doubt one can conclude that Jeffery Sprecher’s salary and net worth have afforded him a more than a comfortable lifestyle for himself and his family.
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Career
Sprecher’s first job was at the technology company Trane that manufactures ventilators, air conditioners, and heating techs. This is where he met William Prentice who was working on power plants following the deregulations. In 1983, Prentice gave Jeffery Sprecher a job proposal to come work for him at Western Power Group.
- Founding Intercontinental Exchange:
In 1996, Sprecher made the wise decision of acquiring the Continental Power Exchange in Atlanta from MidAmerican Holding Company for just $1 coupled with the assumption of debt. This became the foundation of the Intercontinental Exchange. Continental Power Exchange, which was an electronic energy trading company, manually handled the energy trading in the 1990s. by 1997, Continental Power Exchange had a new software system in place, CPEX, which would allow it to expand to more servers as the demand would increase. CPEX advanced servers and hardware would make it easy for the company to handle foreseeable future changes when there is a client load. These advances in technology kept Continental Power Exchange one step ahead in the market always.
Sprecher started his own, Intercontinental Exchange in 2000 as an online platform for trading energy in Atlanta. Sprecher had the back support of two famous names from Wall Street. These were the famous bankers, Goldman Sachs and Morgan Stanley. Intercontinental Exchange is part of the list of American fortune 500 companies. It came into existence in 2000. It processed global exchanges, house clearances, and the provision of mortgage technology, data, and listing services.
- Expanding the empire
A little while after Intercontinental Exchange got in touch with Enron to be its client, the company started its own electricity trading online which superseded all other companies in the marketplace. Enron’s strategy was to buy from all sellers and sell to every buyer in the market. When the Enron exchange business went haywire due to the Enron Scandal, business for Intercontinental Exchange went soaring to the skies!
Since the explosion in its business, Intercontinental Exchange has obtained many companies and integrated them into their own business model. These include a list of companies such as International Petroleum Exchange, New York Board of Trades, Creditex, amongst many others.
- Bakkt
In 2018, Sprecher introduced Bakkt, formed by Intercontinental Exchange. Bakkt is a marketplace for digital currency. In 2021, it was announced by the company that Bakkt was being turned into a special purpose acquisition company (SPAC). They received funding for this venture from Victory Park Capital, a Chicago investment fund. Sprecher stated that Bakkt could play a huge role in curbing the disruption in financial transactions caused by payments being processed through credit cards.
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Jeffery and his stocks:
Sprecher and his wife both are very active in the buying and selling of stocks. In 2020, with the release of federal financial disclosure documents, it was revealed that both Sprecher and his wife, Senator Kelly Loffler got rid of a lot of their stocks worth millions of dollars in companies specifically vulnerable during the COVID 19 pandemic.
- Tackling Covid-19
They started selling their stocks the moment the USA senators received a secret briefing on the incoming pandemic that was to change the course of the world in mere days. Accordingly, the couple purchased stocks in companies that would in most likeliness benefit from the lockdowns and other shelter-in-place policies of the US government to deal with the threats posed by the pandemic. Though the couple has their own individual stock portfolios, they also own many of the stocks jointly. This proves that Sprecher was taken into confidence, as his consent would have to be attained to make the sales.
- Allegations:
In March 2020, a few days after their very activities on the stock exchange, the couple was faced with a complaint against them. Common Cause, an advocacy group, for breaking the STOCK Act, filed the complaint against Sprecher and Loffler. They requested that a criminal investigation be conducted regarding the activities of the couple on the stock exchange. When asked to comment on this, Intercontinental Exchange stated that the almost 30 transactions made by the couple were in accordance with the company’s policies. Moreover, Sprecher and Loeffler confessed to not have any knowledge of these transactions as their financial advisor without their knowledge carried out these activities.
In June 2020, the Senate Ethics Committee concluded its probing in Mrs. Sprecher’s trading events. Three weeks prior to this, the justice department had also stopped its probing into Loeffler’s trading activity, as stated by Loeffler’s office.
Personal Life
Jeffrey Sprecher came into this world on February 23, 1955. He was born in Madison, Wisconsin. His father, Peter Sprecher, was an insurance broker, and Phyllis was a medical technologist. He has two sisters, Karen and Jill Sprecher, who are filmmakers in Hollywood and have worked with some of the top names in Hollywood. Jeffrey Sprecher married his current wife, who is a US Senator, Kelly Loeffler in 2004. The couple lives in a luxurious estate in Tuxedo Park, Atlanta. This beautiful estate even has its own name, Descente. It’s a large spacious house that measures 15000 square foot and is appraised at a price of 4 million dollars! So you can well imagine that Jeffery Sprecher’s salary and net worth are way high up there. Other than the available basic information, not much is known about Sprecher’s personal life. He is a private person and usually keeps his intimate and family life away from the limelight. Although his wife is very much out there on social media, having an Instagram and Twitter account, Sprecher himself is yet to make a debut on the world wide web. At 65, living a blissful life with his wife, it is quite possible that he would not want to get engulfed in the fast life of the internet.
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Education
James Madison Memorial High School is where graduated from. For his undergrad, he went to the University of Wisconsin-Madison and did his bachelor’s in chemical engineering. He received his undergrad degree in 1978. In 1984, 6 years after doing his bachelor’s, he completed his Master’s in Business Administration (MBA). He got his MBA degree from Pepperdine University.
Conclusion
Jeffrey Sprecher’s net worth is a good enough measure of his success as a businessman in the United States of America. His knowledge of entrepreneurship coupled with his sharp wit to make the right decisions at the right time have landed him amongst the stars in the world of commerce. Sprecher’s name is synonymous with success in the USA and inspires many budding businessmen who dream about making it big one day. Along with his wife, the two form a classic example of an American power couple.
Their huge success in their respective careers is a learning lesson for everyone to work hard towards their goals. Even at the age of 65, Sprecher has not slowed down one bit and continues to build on his portfolio and record new wins every day. His sharpness has allowed him to avoid any huge losses even during the COVID 19 pandemic where many have suffered humongous losses in their wealth and earnings. Jeffrey’s Sprecher’s success is a classic example that the American dream continues to pay off for those who give their all to their work.
