Person in history
Bernie Madoff
Bernie Madoff, American mastermind of the world's largest Ponzi scheme (born 1938)
Life at a glance
- Died
- 2021 · April 14
Their story
Who they were
Bernard Lawrence Madoff was an American financier, con artist, and stock broker 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.
Early life
Early life and education Madoff in his 1956 high school yearbook Madoff was born on April 29, 1938, in Brooklyn , New York City, to Ralph Madoff, a plumber and stockbroker , and wife, Sylvia Madoff (née Muntner). [ 1 ] [ 2 ] [ 3 ] [ 4 ] Madoff's grandparents were Jewish emigrants from Poland, Romania, and Austria. [ 5 ] He was the second of three children; his siblings are Sondra Weiner and Peter Madoff. [ 6 ] [ 7 ] His family later moved to Queens ,
Path and career
Career In 1960, Madoff founded Bernard L. Madoff Investment Securities LLC as a broker-dealer for penny stock with $5,000 (equivalent to $54,000 in 2025) [ 1 ] that he earned from working as a lifeguard and irrigation sprinkler installer [ 2 ] and a loan of $50,000 from his father-in-law, accountant Saul Alpern, who referred a circle of friends and their families; [ 3 ] Carl J. Shapiro was one such early customer, investing $100,000. [ 4 ] Initially,
Why this date
Bernie Madoff appears on our April 14 calendar for 2021 as a death entry.
Sources
Cite this page
“Bernie Madoff”, What's On This Date, https://whatsonthisdate.com/app/people/bernie-madoff, accessed October 24, 2026.
Cite the underlying source as well — the source links above go to the record this entry is adapted from.
Questions about Bernie Madoff
When did Bernie Madoff die?
April 14 2021.
Who else was born on this day?
The date page lists everyone we hold for that calendar day.
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