Early Life
Thomas Peterffy was born in Budapest, Hungary, on September 30, 1944, during a Russian air raid. Witnessing the devastation of World War II and the subsequent rise of a repressive communist regime shaped his worldview. He left his engineering studies in Hungary and emigrated to the United States in 1965 to join his father in New York City.
Rise to Success
Peterffy began his career as an architectural draftsman and later became a computer programmer. In 1977, he purchased a seat on the American Stock Exchange and founded T.P. & Co., which later became Interactive Brokers. He played a pivotal role in developing the first electronic trading platform for securities. He introduced handheld computers onto the trading floor in the early 1980s and created the first fully automated algorithmic trading system. Peterffy served as CEO of Interactive Brokers until December 2019.
Key Business Strategies
Peterffy is known for his focus on technology and automation, consistently replacing manual processes with more efficient ones. He emphasized direct market access, offering low-cost commissions, and providing advanced trading tools to sophisticated investors.
Philanthropy
Peterffy is a donor to the Republican Party and conservative causes. He contributed $250,000 to Donald Trump’s 2020 presidential campaign. Specific amounts and initiatives for his philanthropy are not readily available.
