Jérôme Kerviel is officially the poorest person in the world. His relatively unprecedented level of poverty is a result of having incurred debts that currently exceed $6.3 billion.
Jérôme Kerviel is a former French trader with intricate knowledge of computers and finance. He used to work at Société Générale (SocGen) Bank where his unauthorized trading activities led to the loss of over US $7.2 billion for the bank in January 2008. He was charged with breach of trust, forgery, and unauthorized use of computers. The rest of this article will provide accurate information about who Jérôme Kerviel is and the circumstances that led to his current deplorable financial status.
Summary of Jérôme Kerviel’s Bio
- Full name: Jérôme Kerviel
- Gender: Male
- Date of birth: January 11, 1977
- Place of birth: Pont-l’Abbé, Brittany, France
- Jérôme Kerviel’s Age: 47 years old
- Ethnicity: White
- Nationality: French
- Zodiac Sign: Capricorn
- Sexual Orientation: Straight
- Religion: Christianity
- Marital Status: Single
- Jérôme Kerviel’s Parents: Charles Kerviel (father), Marie-Joseé Kerviel (mother)
- Siblings: Olivier Kerviel (brother)
- Hair color: Black
- Eye color: Green
- Education: University of Nantes (Bachelor’s degree), Lumière University Lyon 2 (Master’s degree)
- Profession: IT Consultant, Former Stock Trader
- Jérôme Kerviel’s Net Worth: Est. -$6.3 billion (USD)
- Famous for: Being the poorest man in the world
- Jérôme Kerviel’s Instagram: @jeromekerviel
Who Is The Most Indebted Man In The World?
Jérôme Kerviel is the most indebted man in the world with a debt currently exceeding US $6.3 billion. The 47-year-old French man was born on January 11, 1977, in Pont-l’Abbé, Brittany, France.
His birth sign is Capricorn and he belongs to the Caucasian ethnic group. Jérôme Kerviel is the son of Charles Kerviel, a French blacksmith, and Marie-Joseé Kerviel, a retired hairdresser. He was raised alongside an older brother named Olivier Kerviel.
Details of his formal educational background include that he graduated with a bachelor’s degree in Finance from the University of Nantes in 1999 before proceeding to Lumière University Lyon 2 for his Master’s degree, which he received in 2000.
What Does Jérôme Kerviel Do For A Living?
Jérôme Kerviel used to work as a stock trader and an IT consultant. After receiving his Master’s degree in 2000, he joined Société Générale, a French multinational bank, as an intern.
His career is relatively marked by his time there because he joined in 2000, immediately after getting his Master’s degree. He kept his head down and gradually worked his way up to become a junior trader.
However, Jérôme’s career began to unravel from there, and in 2008, he was at the center of a financial scandal that rocked the banking sector.
What Did Jérôme Kerviel Do And What Happened To Him?
In 2008, Jérôme made headlines for losing over $7 billion in company assets through unauthorized trades. He made unauthorized trades exceeding his trading limits and allegedly falsified documents to cover up his actions. The bank claimed that Kerviel was solely responsible for the losses, while he argued that the bank had turned a blind eye to his actions.
Kerviel’s actions led to one of the biggest trading scandals in history. After the scandal, he was fired from Société Générale and sentenced to three years in prison for breach of trust, forgery, and unauthorized computer use. In addition, he was ordered to pay back the $7 billion lost by the bank.
Société Générale initially claimed that Kerviel had acted alone, but doubts were raised about the bank’s risk management and control systems.
The scandal highlighted the importance of risk management and regulatory oversight in the financial industry. It led to increased scrutiny of banks’ internal controls and risk management practices, as well as calls for stricter regulations to prevent such incidents from happening in the future.
In the aftermath of the scandal, Société Générale implemented changes to improve its risk management and control systems. The incident also prompted other financial institutions to reassess their risk management practices and invest in technology and systems to detect and prevent unauthorized trading.
How Much Does Jérôme Kerviel Still Owe Today?
Several sources claim that Jérôme Kerviel still has over US $6.3 billion in outstanding debts. These claims have yet to be verified.
However, it is worth noting that as things stand currently, Jérôme Kerviel still has outstanding debts related to his unauthorized trading activities at Société Générale. His conviction in 2008 of breach of trust, forgery, and unauthorized computer use forced him to pay back some of the losses incurred by the bank, which amounted to over $7 billion at the time.
Kerviel has been fighting this verdict and has argued that the bank knew about his actions. Legal battles and negotiations have been ongoing, and the exact amount he still owes is not publicly available.
Kerviel’s case has raised questions about the culture and practices of the banking industry. Some argue that the pressure to make profits led Kerviel to take extreme risks, while others say that banks need to take more responsibility for the actions of their employees.
Despite the controversy surrounding his actions, Kerviel has gained support from some people who see him as a victim of a corrupt system. He has written a book about his experiences and has become an advocate for financial reform.
Overall, the Jérôme Kerviel trading scandal serves as a cautionary tale, reminding the financial industry of the need for robust risk management practices and effective regulatory oversight to safeguard against potential losses and maintain market integrity.
FAQs
Who Is Jérôme Kerviel?
Jérôme Kerviel is a former French IT consultant and stock trader. He came to the limelight after being a huge part of the financial scandal that rocked the French multinational bank Société Générale in 2008.
Who Is The Poorest Man In The World?
Jérôme Kerviel is the poorest man in the world. He earned this unflattering title after he was convicted and ordered to pay back over $7 billion, which is essentially what the bank lost in the financial scandal.
How Did Jérôme Kerviel Lose Such A Huge Amount Of Money?
Jérôme Kerviel lost that much money after he engaged in an unauthorized trade. He then allegedly forged some documents to cover his tracks.
What Is Jérôme Kerviel’s Net Worth?
Jérôme Kerviel’s exact net worth is currently unknown at the moment even though a handful of unverified sources claim that it is an estimated US -$6.3 billion.
Who Is Jérôme Kerviel’s Wife?
Jérôme Kerviel is not married, and he does not appear to be in any romantic relationship at present.
