Terry Duffy Is One Wealthy CEO Of The Chicago Mercantile Exchange! Here's His Net Worth

Terrence A. Duffy, known simply as Terry Duffy, is one of the wealthiest CEOs in the United States.
Terrence A. Duffy, known simply as Terry Duffy, is one of the wealthiest CEOs in the United States.( Source : chicagobusiness )

Terrence A. Duffy, known simply as Terry Duffy, is one of the wealthiest CEOs in the United States.

He is most prominent for being the chief executive officer and chairman of the Chicago Mercantile Exchange, or CME Group.

The CME Group is a derivatives marketplace based in Chicago, Illinois. Duffy started working for the Chicago Mercantile Exchange in 1980 and worked his way up to the CME board in 1995.

From 1998 to 2002, he served as the vice chairman; since 2002, he has been the company's chairman. 

He is famous for leading the company through various essential mergers and acquisitions.

One of the most famous instances was when the CME Group acquired its hometown rival, the Chicago Board of Trade. Not content to acquire that, the company acquired the New York Mercantile Exchange and even the NEX Group.

Terry Duffy's Net Worth In 2022

CEO Terry Duffy of the CME Group has a net worth of well over $69.17 million as of the writing of this video.

The man has made most of his money by owning the CME Group stocks. He owns about 81,308 units of CME Group in common stock, and through the last sixteen years at CME Group, Duffy has sold an estimated value of $74.93 million worth of stocks.

According to various insider sources, Duffy has a base annual salary of over $1.5 million, but he has many other sources of income to supplement his income.  He gets over $10.93 million in stock awards and $3.2 million in other forms of compensation.

Terry Duffy has over $69 million in net worth earned from various actions of the CME Group
Terry Duffy has over $69 million in net worth earned from various actions of the CME Group ( Source : wsj )

He even gets $45.42K in a change in pension value and $444.44K in other unquantified forms of compensation that have not been noted.

He is one of the most successful and the most paid people in all of the CME Group. As their Chairman and CEO, it comes as no surprise that he is paid more than most people.

Even amongst his executives, the person nearest to his base salary is John W. Pietrowicz, and he only makes $550,000 in base salary and a little over $2 million in stock awards.

However, given the amount of success that CME Group has seen through Duffy's leadership, perhaps that's why he makes well over $16 million annually by simply being the businessman he is.  The company is selling over $200 per share, which is a great price, and has been seeing unprecedented success all around for years. 

Terry Duffy's Net Worth And Earnings From His Investments and NFTs

CEO Terry Duffy is known for being heavily invested in crypto and NFTs and has been keen to invest in them. 

According to Duffy, digital money is the future, and that its reputation is changing for the better. One of the points that Duffy makes is that in order for cryptocurrency to have a viable and safe future is that the government needs to get involved. 

Terry Duffy has been very vocal about his support for cyrptocurrency
Terry Duffy has been very vocal about his support for cyrptocurrency ( Source : cnbc )

He has been a vocal proponent of cryptocurrency who is not afraid to point out when people who were vocal critics of cryptocurrency adopt the method.

When JP Morgan launched their JPM Coin, Duffy was one of the first people to point out the hypocrisy of a company that only a couple of years ago was bashing bitcoin. Regardless of the hiccups that crypto is seeing, it seems that digital money has a friend in Duffy.

Terry Duffy Is CEO Of The Chicago Mercantile Exchange

CEO Terry Duffy has a long and storied history working for the Chicago Mercantile Exchange Group.

In 1980, Duffy started working as a trader at the Chicago Mercantile Exchange, and in 1981, he established his own business, TDA Trading. With the aid of a $50,000 loan from his parents, which was backed by a lien they took out on their house, Duffy acquired a CME membership in 1984.

He lost $150,000 as a result of a misheard order not long after purchasing his membership and while operating as a broker.

Vincent Schreiber, who had earlier introduced Duffy to the trading world, assisted Duffy in repaying the loan by providing the clearing business with his guarantee. Over the following three years, Duffy continued to trade during the day and tend bars at night to pay off the loan.

Duffy entered the CME board in 1995 and was chosen as vice chairman in 1998.

Terry Duffy reacting to the FTX collapse
Terry Duffy reacting to the FTX collapse ( Source : cnbc )

During this time, Duffy lobbied for the CME to accept electronic trading.

He was elected chairman of the CME board in April 2002, and the exchange went public for the first time in the United States in December 2002.

The merger of the Chicago Mercantile Exchange and Chicago Board of Trade, valued at $8 billion, was announced on October 17, 2006. The CME Group, the name given to the merged exchanges, would be the largest market in the world for financial derivatives transactions.

The agreement was negotiated by Duffy and Charles Carey, their equivalent at the Chicago Board of Trade, and other officials.

He served as the merged company's chairman and is credited with orchestrating the 2008 purchase of the New York Mercantile Exchange by the CME Group. In 2012, he started as executive chairman and president; then in November 2016, he expanded his responsibilities to include chief executive officer.

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