UPDATE: Islam told the New York Observer that his entire story was fabricated. The coverage he received was “hyped up beyond belief.” Islam says his dad wants to disown him and his mom said she’d never talk to him again.
You know how we reported on that 17-year-old who made $72 Million from trading stocks early Monday?
Well, it turns out that might all be a lie!
While Mohammed “Mo” Islam DOES have $72 Million in his bank account, we’re hearing most of that might just be frominheritance and not so much trading on his part.
[ Related: Did This High School Student Make $72 Million From Trading Stocks!? ]
Apparently, Mo’s investment club heard wind of his headlines and cleared the air about his fortune, saying:
It has been brought to the attention of the Leaders Investment Club that Mohammed Islam has been rumored to have made $72,000,000 through making trades in the stock market. After performing due diligence and talking with Mohammed Islam himself, we have determined that these claims are false and simply been blown up by the media in the interests of sensationalism.
Ohhhhhh. We get it now.
So Mo might actually still be worth the $72 Million, he just received it rather than earned it.
Regardless, we’re still jealous!
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