“The first three months were really tough – ‘There’s a telephone, good luck,’” Payne says.
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After earning his broker’s license he joined a boutique stock brokerage, where he started at the bottom, cold-calling prospective clients. At 17, he bought his first stocks, with her as his co-signer, investing in MCI, the telecommunications company.Īfter a stint in the Air Force and college, he went to work for E.F. I started learning to teach myself about it.”Īt 14, he told his mom he was going to work on Wall Street one day. “And any chance I had to get the Wall Street Journal, I would read it and read it. “Except I knew that was where all the money was made,” Payne says. Before we came to New York I never a single day in my life thought about money, and now of course it was very important.”įrom his neighborhood on the north end of Manhattan he knew little of Wall Street on the southern tip of the island, he says. “I was sort of thrust into this position. His parents’ divorce when he was 12 resulted in the culture shock of Payne and his mother and two younger brothers moving into a one-room apartment in the Harlem neighborhood of New York City. And then I came home one day from school and my mom said, ‘Hey, we’re leaving.’” “Always living on these wonderful military bases, I never knew crime, or locking doors,” Payne says. Raised the first dozen years of his life on Army bases where his father was stationed, it was an idyllic childhood, he says. Relating to the lives of ordinary folk is something Payne well knows from his own upbringing, a life that started out strong and secure and then fell into uncertainty and fear. “If I’ve got a house and two kids, I make $170,000, I hope to retire some day and send the kids to college? I don’t relate to that.” “The common thread I always saw was, ‘Today Mark Zuckerberg lost a billion dollars,’ or, ‘Today Bill Gates made a billion.’ “The idea came to me from always watching financial shows and magazines,” says Charles Payne of how he came to the epiphany that shaped his show. If “Making Money With Charles Payne” works as planned, the host of the new Fox Business Network show says it will reach everyday people and make connections between the oft-complicated world of the financial markets and their lives.
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