Who Is Bernie Madoff? Age, Biography and Wiki
Born on April 29, 1938, Bernie Madoff was known for his infamous Ponzi scheme that defrauded thousands of investors out of billions of dollars. By the time of his passing on April 14, 2021, he had become a symbol of financial ruthlessness and deception. Madoff's life is a study in contrasts, moving from a respected financier to a convicted criminal in federal prison.
In 2025, the focus on Madoff's life continues to be relevant, not just for its historical context but also for the lessons it provides about trust, regulation, and the financial industry.
| Occupation | Billionaire |
|---|---|
| Date of Birth | April 29, 1938 |
| Age | 82 Years |
| Birth Place | New York City, New York, U.S. |
| Horoscope | Taurus |
| Country | U.S |
| Date of death | 14 April, 2021 |
| Died Place | Butner, North Carolina, U.S. |
Popularity
Bernie Madoff's Popularity over time
Height, Weight & Measurements
Bernie Madoff stood approximately 5 feet 11 inches (180 cm) tall and weighed around 150 pounds (68 kg) during his later years. His physical presence was often overlooked in discussions of his character and actions; however, it's noteworthy that he managed to project an image of confidence and authority that many found compelling.
Family, Dating & Relationship Status
Madoff was married to Ruth Madoff from 1959 until his death. They had two sons, Mark and Andrew, both of whom tragically passed away within a few years after Madoff's arrest, contributing to the family's deep-rooted tragedies. Throughout his life, Madoff maintained a close family bond, even as his financial crimes wreaked havoc on their lives. His relationships, especially with his wife, were strained due to the repercussions of his actions but remained until the end.
In terms of dating and relationships, after Madoff's demise, there were no reported romantic relationships as his life was consumed by the fallout of his notorious dealings.
At the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now-deceased sons Mark Madoff and Andrew Madoff.
Peter was sentenced to 10 years in prison in 2012, and Mark hanged himself in 2010, exactly two years after his father's arrest. Andrew died of lymphoma on September 3, 2014.
Net Worth and Salary
Before his exposure as a fraudster, Bernie Madoff's net worth was estimated to be around $17 billion. However, after the scandal broke, his assets were seized, and his net worth plummeted to near zero. As of 2025, his legacy remains intertwined with the loss of investor wealth totaling around $65 billion, prompting discussions about the need for greater financial regulation.
Although Madoff's wealth management business ultimately grew into a multibillion-dollar operation, none of the major derivatives firms traded with him because they did not believe his numbers were real.
None of the major Wall Street firms invested with him, and several high-ranking executives at those firms suspected his operations and claims were not legitimate.
Others contended it was inconceivable that the growing volume of Madoff's accounts could be competently and legitimately serviced by his documented accounting/auditing firm, a three-person firm with only one active accountant.
The Central Bank of Ireland failed to spot Madoff's gigantic fraud when he started using Irish funds and had to supply large amounts of information, which would have been enough to enable Irish regulators to uncover the fraud much earlier than late 2008 when he was finally arrested in New York.
Career, Business and Investments
Bernie Madoff began his career in the 1960s and co-founded Bernard L. Madoff Investment Securities LLC. He was initially respected in the financial community, even serving as the chairman of NASDAQ. However, his career took a dark turn as he orchestrated a massive Ponzi scheme that lasted nearly three decades.
Madoff's investments appeared sound, often returning profits consistently, which he utilized to attract and maintain his clientele. The revelation of his fraud in late 2008 led to his arrest and charges of securities fraud, investment advisor fraud, and wire fraud among others.
Bernard Lawrence Madoff (April 29, 1938 – April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. He was at one time chairman of the Nasdaq stock exchange.
Madoff's firm had two basic units: a stock brokerage and an asset management business; the Ponzi scheme was centered in the asset management business.
Social Network
During his career, Madoff was viewed as a prominent figure in finance, interacting with a network of wealthy individuals and organizations. Today, he remains a cautionary tale in discussions around ethics in finance. His story is often referenced on platforms like Twitter, financial newsletters, and podcasts discussing financial fraud and investment ethics.
Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff Investment Securities. He served as the company's chairman until his arrest on December 11, 2008. That year, the firm was the sixth-largest market maker in S&P 500 stocks.
While the stock brokerage part of the business had a public profile, Madoff tried to keep his asset management business low profile and exclusive.
Education
Bernie Madoff graduated from the Bernard M. Baruch College of the City University of New York with a degree in political science. While his educational background set the stage for his career, it is critical to note that his success hinged not on academia but rather on grappling with investor psychology and the exploitation of trust.
His family was Jewish. Madoff's grandparents were emigrants from Poland, Romania and Austria. He was the second of three children; his siblings are Sondra Weiner and Peter Madoff. His family later moved to Queens, and Madoff graduated from Far Rockaway High School in 1956.
