Business, Politics, US

How rich is Peter Schiff?

Name: Peter David Schiff

Born: March 23, 1963

Occupation: Stockbroker, author and investor

Peter Schiff, fair use
Peter Schiff, fair use

Peter Schiff was born in New Haven, Connecticut on March 23, 1963. He is the son of Irwin Schiff, a World War II veteran and tax protester, and Ellen Schiff. He has one sibling: Andrew. Peter grew up in a Jewish household.

Relocating to Southern California after his parents’ divorce, Peter attended Beverly Hills High School. He studied accounting and financing at the University of California, Berkeley and earned his Bachelor of Science in 1987. During his academic career, Peter was introduced to the Austrian School of Economics.

Peter is married to Lauren Schiff and they have two children: Preston and Spencer. The family presently reside in Puerto Rico.

He launched his stockbroker career at a Shearson Lehman Brothers brokerage firm. It was in 1996 when he and a partner purchased an inactive brokerage firm. It was renamed Euro Pacific Capital and concentrates on non-U.S. markets and securities. The headquarters was relocated from Los Angeles to Darien, Connecticut in 2005. The company has been a success and has opened offices in New York City, Los Angeles, Boca Raton, Newport Beach and Scottsdale.  He also founded Euro Pacific Capital Canada, which has offices in Toronto, Montreal and Vancouver.

Peter rose to national prominence around 2005 and 2006 by being one of the only few people on television to warn about the coming financial crisis. He regularly told hosts, panelists and viewers that the housing bubble was about to burst and that a serious economic collapse was going to happen because of the Federal Reserve and the United States government. He was often ridiculed and dismissed by everyone he came across.

Peter is a strong advocate for owning gold and investing abroad. He has consistently written about this, among other topics, in his books, including “Crash Proof,” “The Little Book of Bull Moves in a Bear Market,” “How an Economy Grows and Why it Crashes” and “The Real Crash.”

He served as an economic adviser to then-Texas Republican Congressman Ron Paul’s 2008 presidential campaign. This would prompt him to run for the Senate in 2010, but he ultimately lost the Republican nomination to Linda McMahon, the professional wrestling billionaire.

Since then, Peter continues to be a regular guest on various television networks, like Fox Business Network, CNBC, MSNBC and others. He also had his own radio show for five years before it was ended. He returned to the radio in 2012 to replace G. Gordon Libby on the Radio America network Internet broadcast.

Some of Peter’s political positions include abolishing the minimum wage, replacing the income tax with a consumption tax, ending the wars overseas, getting rid of Medicare and reining in the Federal Reserve.

We estimate that Peter Schiff’s net worth is $70 million (2016).

So how much is $70 million really?

$70 million could help keep the doors of Congress open for a day or two. $70 million could also help you pay for a Senate campaign in some of the states with the tightest races, like Connecticut.


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