American entrepreneur Tom Sosnoff is best known as a founder of Dough, Inc. and co-fouder of tastytrade and Thinkorswim. As of 2020, Tom Sosnoff’s net worth is estimated to be about $150 million, a chunk of this came from selling his company, Thinkorswim.
Tom Sosnoff was born on March 6th, 1957, in New York City. He graduated from from the University at Albany with degree in political science in 1979. He started working for the investment banking firm “Drexel Burnham Lambert” and later worked at the “Chicago Board Options Exchange” as a market maker through the Sosnoff Sheridan Group. Yet becoming an options trader wasn’t the peak of his career…
In 1999, Sosnoff co-founded aforesaid Thinkorswim. During these years, he also worked as a Senior Vice President of Trading and Strategic Initiatives at TD Ameritrade, the company which bought Thinkorswim. Sosnoff is a great example of a successful entrepreneur who has leveaged his talents, know-how and network throughout his career.
The company he founded in 1999, Thinkorswim, was bought by TD Ameritrade ten years later in 2009. The price was close to $606 million and Sosnoff himself received $84 million before taxes. Two years later, he invested some of the money into his tastytrade project which has since become one of the most popular financial networks.
He received the EY Entrepreneur of the Year Midwest Award in 2014.