Trader Wales Jimmy is a great trader, but a terrible businessman
Jimmy Wales is a truly unique individual. His Wikipedia creation and illustrious trading career make him a role model for webmasters, startup founders, and aspiring traders alike.
In fact, the world might never have seen Wikipedia as it is today if Wales had not made his initial capital in the stock market.
Wales is an example of a successful new generation trader who converted his capital into a global Internet project.
However, Jimmy was not always the man he is today, and there were also many obstacles along the way.
The family's finances were actually saved by the grandmother and mother, who owned a private school, House of Learning. The private school taught according to the Montessori system, which essentially meant that children chose their own interests and selected their favorite subjects.
This approach to education was popular among the wealthy, as it allowed motivated parents to fully develop their children's potential. As for Jimmy Wales, he preferred reading enzolopedias.
Training and career as a trader
Wales didn't attend a regular school, but received a comprehensive, specialized education at his own private school. After graduating, Jim entered Randolph School, which became a preparatory course for admission to Auburn University.
After receiving his bachelor's degree, Wales enrolled at the University of Alabama and began pursuing a PhD in philosophy in finance. Toward this end, he taught at two universities simultaneously for a long time, but eventually abandoned the idea.
A turning point in Wales's life came in 1994, when he moved to Chicago. It was in this large city that Jimmy realized his full financial potential, becoming an asset manager at Chicago Options Associates. His trading career continued until 2000, during which time Jimmy earned over $500,000.
First attempts in web business
1994 was the most favorable year for internet business development, so after the emergence of giants like Google and Yahoo, in 1996, Jimmy Wales tried to create his own search engine for men. Naturally, this type of content and search engine brought in some initial profits, but it would have a negative impact on his career in the future.
In 2000, after retiring from his trading career, Jimmy Wales founded the first online encyclopedia, Nupedia. However, the site's content was slow to fill, as each user was required to submit an article for critique by a professional scholar before it could be approved.
This approach was highly discouraging to users, so Wikipedia was created to attract as much content as possible. Surprisingly, this secondary project quickly surpassed the online encyclopedia and began attracting new users eager to contribute content.
In 2003, Jimmy Wales created the non-profit Wikimedia Foundation, which allowed people to donate funds for the site's development. That's why, to this day, you won't find anything on Wikipedia's website: plugins/system/oyl/src/Redirect.php?oyl=aWNqAgALJfwliaVLRJh1HDLLuvqynXVDXzIfBySTibFpQlEO%2FU8%2FpA%3D%3D no advertising.
Later, in 2004, Wales created an additional paid hosting service for wiki-based websites. To this day, Wales relies on grants, which have totaled over $15 million.
Many critics call Wales a great man, but also a terrible businessman. For example, Wikipedia, which he created, has over 50 million visitors per day, and if you place an AdWords ad on the resource (https://adwords.google.com/) or Yandex Direct (https://direct.yandex.ru) then, with minimal advertising prices, he could earn more in a week than he would have earned in 15 years of received grants.
One way or another, Jimmy Wales is a successful, established trader and businessman who does not strive for huge amounts of money.
