Who is Jeffrey Sprecher? Everything you need to know about the founder of Intercontinental Exchange
Jeffrey Sprecher is an American businessman. He is the CEO of the Intercontinental Stock Exchange (ICE) and Chairman of the Board of Directors of the New York Stock Exchange. He is also the husband of US Senator, Kelly Lynn Loeffler.
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Jeffrey Sprecher began his career as an employee at Trane Technologies. Later, he acquired the Continental Power Exchange, which was the basis for the Intercontinental Exchange.
Since then, he has become president of the New York Stock Exchange. Together with his wife, he has gained global recognition for selling millions of dollars worth of stocks.
Jeffrey Sprecher's profile summary
- Full name: Jeffrey Craig Sprecher
- Nickname: Jeffrey Sprecher
- Gender: Male
- Date of birth: 23rd February 1955
- Birth sign: Pisces
- Place of birth: Madison, Wisconsin, US
- Age: 66 years old (as of 2022)
- Nationality: American
- Ethnicity: Mixed-race
- Eye colour: Dark brown
- Hair colour: Blonde
- Weight: 83 kg
- Height: 5 feet 11 inches
- Sexual orientation: Straight
- Religion: Christianity
- Father: Peter Sprecher
- Mother: Phyllis Willingham
- Siblings: Karen and Jill Sprecher
- Marital status: Married
- Spouse: Kelly Lynn Loeffler
- Education: James Madison Memorial High School, Pepperdine University, University of Wisconsin-Madison
- Profession: Chairman and CEO, Intercontinental Exchange, Chairman, New York Stock Exchange
- Net worth: $1 billion
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Jeffrey Sprecher's biography
Jeffrey C Sprecher was born on 23rd February 1955 in Madison, Wisconsin, in the United States. He is 66 years old as of 2021. His parents are Peter Sprecher (father) and Phyllis Willingham (mother).
Craig's father is an insurance broker, while his mother is a medical technologist. He has two sisters, Karen and Jill Sprecher, who are in the film making industry. After his elementary education, Jeff joined James Madison Memorial High School and was initiated to the Wisconsin Alpha Chapter of Sigma Alpha Epsilon.
After his high school graduation, he joined the University of Wisconsin-Madison. He graduated in 1978 with a Bachelor's Degree in Chemical Engineering. Later, he enrolled at Pepperdine University and graduated in 1984 with a Master of Business Administration.
Career
Source: Twitter
Jeff Sprecher started his career by working at Trane Company, where he first met William Prentice, who was working as a power plant developer. William offered him a job at Western Power Group in 1983. He acquired the necessary skills, expertise and the idea of establishing his own company while serving at Western Power Group.
In 1996, Sprecher bought the Continental Power Exchange in Atlanta from MidAmerican Energy Holdings Company. He purchased it for $1 plus the assumption of debt, which became the foundation for Intercontinental Exchange (ICE).
The renaming from Continental Power Exchange to Intercontinental Exchange took place in 2000. He founded ICE with seven bank and oil companies as partners. Those partners included:
- BP
- Goldman Sachs
- Morgan Stanley
- Total
- Shell
- Deutsche Bank
- Societe Generale
While establishing Intercontinental Exchange, Jeff's main goal was to harness the nascent World Wide Web to build an online exchange for natural gas trading. His vision was to create a platform where different energy traders across the globe could buy and sell energy commodities online like the stock market.
Eventually, his goal evolved into owning many commodity exchanges, from oil to gas to regular stocks. Later, Enron began its own competing electricity trading platform, which dominated the market. Enron's market model was to buy from every seller and sell to every buyer. Unfortunately, Enron collapsed into bankruptcy in the wake of a massive bankruptcy scandal.
From 2001, Intercontinental Exchange became a merger and acquisition machine with dozens of large and small exchanges. ICE exchanged specializes in everything from oil and gas to financials and agriculture.
The company went public in 2005, and after the first day of trading, his 4.5% stake was estimated to be worth $10 million. As of 2021, the company owns and operates 12 regulated exchanges, including the New York Stock Exchange.
ICE also owns six clearing houses and the cloud-based mortgage finance platform Ellie Mae. Its other acquisitions include:
- International Petroleum Exchange in 2001
- New York Board of Trade in 2006
- Creditex in 2008
- The Clearing Corporation in 2009
- Climate Exchange in 2010
- NYSE Euronext in 2013
- Singapore Mercantile Exchange in November 2013
- SuperDerivatives in 2014
- Interactive Data Corporation in 2015
Who is Jeffrey Sprecher's wife?
Source: Getty Images
Jeff is married to Kelly Lynn Loeffler. She is an American businesswoman and politician. In 2002, she was hired by ICE and later rose through the ranks of ICE to become head of marketing, communications and investor relations.
Kelly served as a United States senator for Georgia from 2020 to 2021. She is a former co-owner of the Atlanta Dream of the Women's National Basketball Association (WNBA).
Jeff and Kelly started a few months after her employment at the Intercontinental Exchange Company. Later, they exchanged their wedding vows in 2004. Jeffrey Sprecher's first wife, Kelly Loeffler, is his only wife, and he has married once.
Jeffrey Sprecher's net worth and properties
Jeff has an estimated net worth of $1 billion as of 2021. He has accumulated such a significant sum of money from his successful career as the New York Stock Exchange chairman owned by Intercontinental Exchange.
Together with his wife, Jeff paid $10.5 million for a 15,000 square-foot mansion in Atlanta's Tuxedo Park neighbourhood where the couple currently resides. They also own at least three homes in Florida, a Chicago condo and a beach house in Georgia that cost $4.3 million.
Jeffrey Sprecher's fast facts
Below are quick facts about the American billionaire. They include:
- Who is Jeff Sprecher? He is an American businessman, entrepreneur and celebrity husband.
- How old is Jeff Sprecher? He is 66 years old as of 2021. He was born on 23rd February 1955 in Madison, Wisconsin, US.
- Who is Jeff Sprecher's wife? His wife is an American businesswoman and politician. She served as a United States senator for Georgia from 2020 to 2021.
- Where did Jeff Sprecher study? He studied at James Madison Memorial High School, Pepperdine University, and the University of Wisconsin-Madison.
- Does Jeff Sprecher have any children? It is not known whether the couple has any children or not.
- How much is Sprecher worth? He has an estimated net worth of $1 billion as of 2021.
- What does Jeff Sprecher do for a living? He is the CEO of the Intercontinental Stock Exchange and Chairman of the Board of Directors of the New York Stock Exchange.
- Where does Jeff Sprecher live? The CEO currently lives in Tuxedo Park, Atlanta, in a $10 million, 15,000 square foot estate named Descante together with his wife, Kelly.
Jeff Sprecher rose from a humble background to be one of the wealthiest people in the United States. His life is an inspiration to other young and upcoming entrepreneurs who want to make it in the business world.
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