Veteran financial journalist Charles Payne is known for providing insightful but sometimes questionable market advice through his Fox show Business Making Money with Charles Payne. In the past, he was a Wall Street analyst who founded the research firm Wall Street Strategies. As of 2022, Charles Payne has a net worth of $12 million.
Originally from New York, Charles was born on November 15, 1960. Not much is known about his early years, but he revealed that he always wanted to work in finance as a child.
However, it was not his first career choice. At 17, he joined the US Air Force. After officially enlisting, he was posted to Minot, North Dakota as a security policeman.
Payne was also pursuing an education while serving his country. During his first military assignment, he enrolled at Minot State University and later attended Central Texas College.
After graduating and completing his service in 1985, Charles was hired by stock brokerage firm EF Hutton on Wall Street. He worked there as an analyst for about six years. In 1991, he left to start his own business.
He founded a stock research startup called Wall Street Strategies. The New Jersey native became its CEO and chief financial analyst. He launched the Common Sense Newsletter on the company’s website, wstreet.com.
Unfortunately, the company got into trouble with the SEC in 1999. Charles was accused of advising clients to buy members’ stock eight times without proper disclosures. Without admitting or denying the claims, he paid a $25,000 fine to settle the case. Years later, he boldly returned to the public eye by joining the media.
Payne has made several appearances on the C-SPAN television network. In 2007 he published his first book, “Be Smart, Act Fast, Get Rich”. The same year, he began contributing to the Fox Business Network.
After seven years on the channel, the former Wall Street analyst received his own program, “Making Money with Charles Payne.” The show provides investment information based on the latest market movements and trends. He also interviewed many big names on his show such as David Portnoy and Richard Heart.
However, he became notorious for numerous misleading statements from the host. Despite this, Payne still became a recurring television personality on numerous Fox Business shows, including Cavuto on Business, Varney & Co, and Bulls and Bears.
Net worth and earnings
Payne has an annual salary of $4 million from the Fox Business Network. This is a considerable figure, but it is not its only source of income. There is also his book and his website.
In addition to a monthly newsletter, wstreet.com also offers member services and educational tools. While he didn’t reveal how much money the website makes, it’s likely a small factor in Payne’s $12 million net worth.
Charles is married to a writer named Yvonne Ammirati Payne. They have been together since 2004. Through their marriage, Charles adopted Austin, Yvonne’s son from a previous relationship. They also had a biological child named Cael. The family currently resides in Teaneck, New Jersey.