Ivan Boesky

Ivan Boesky, a descendant of Russian immigrants, a Wall Street legend who makes people talk about the "King of Stock Arbitrage"

In 1975, Ivan Boesky used the $700,000 he scraped together to establish his own stock arbitrage company. In the following years, with 18 hours of hard work a day, tenacious fighting spirit, and persistent pursuit of money, Boesky established an image of a successful person who dared to take risks on Wall Street, and was considered the most tenacious and fastest arbitrageur. business. Many people called him "Ivan the Terrible".

After entering the 1980s, he felt that the previous way of making money was too slow and cumbersome, so he began to engage in illegal arbitrage activities. Later, he was implicated by his former ally Dennis Levin and was prosecuted for insider trading by the U.S. Securities and Exchange Commission. He was sentenced to three and a half years in prison, his illegal gains of US$80 million were confiscated, he was fined US$50 million, and he was deprived of securities trading. Rights last forever. Ivan Boesky’s confession also involved another financial maniac, Michael Milken, known as the “Financial Magician” and the “King of Junk Bonds.”

In 1986, Ivan Boesky said a very famous saying at the graduation ceremony of the University of California Business School: "Greed is alright!" This sentence later became A classic quote from the business world.

Gordon Gekko in the first movie "Wall Street" was based on Ivan Boesky.