Yeah, we know, StoneX Group isn’t the biggest player in the whole financial services game, but still, it is one of the top companies in the industry right now. Sure, it is not as old as other big names, but it does have a rich history dating back to 1924. Yes, the StoneX Group is about to hit that one-century mark next year. Apart from that, did you know that this company used to be a small egg business back in the early days of its establishment? If that sounds intriguing or interesting enough to you, wait until you get to know more of the drama that went on over the years behind the scenes. In today’s post, we’ll take a good look at the history of StoneX Group, how it became this big, what’s their net worth in 2023, and things like that. Here we go.
|StoneX Group Origin Country
|New York, NY, United States
|StoneX Group CEO
|StoneX Group Founders
|Saul Stone and Diego
|StoneX Group Net Worth
|$1.90 billion (As of December 2023)
The StoneX Group Story
Well, it all began in 1921. Saul Stone came to Chicago from Russia, escaping tough times. He started selling eggs door-to-door. This small egg business turned into a broker for butter and eggs, called Saul Stone and Company. Fast forward to 1938, and they were part of the Chicago Mercantile Exchange. Not long after, in 1946, they became a real company named Saul Stone & Co. Things changed a lot when they joined hands with Farmer’s Commodity Corporation. They even got a new name: FCStone Group, Inc. In 2007, the company decided to go public, and they began buying other companies. Then, in 2009, they merged with International Assets Holding Corporation (IAHC) under Diego Veitia’s lead. This was a big step that turned them into INTL FCStone, and now we know them as StoneX Group Inc. After that, StoneX Group Inc. didn’t stop growing. They made smart deals and bought more companies. So, from a small egg-selling business to a big name in finance, StoneX Group Inc. has come a long way. They kept changing, growing, and expanding, showing us how a humble start can lead to great things.
StoneX Group Financials
You see, back in 2020, StoneX made a game-changing move, grabbing everyone’s attention by snapping up GAIN Capital Holdings Inc. It was a big deal, literally, as they forked out a cool $236 million in cash. What did this mean? Well, StoneX wasn’t just playing around though, it showed they were serious players in the retail trading playground. Fast forward to 2023, and guess what? Their financial scoreboard is looking pretty sweet. We’re talking a whopping revenue of $64.38 billion, not to mention a tidy net income of $234.8 million. That’s right, these numbers aren’t just impressive, they rocketed StoneX right up to spot No. 358 on the Fortune 500 list. That was back in 2021, mind you. And yeah, as of December 2023, their net worth is a staggering $1.90 billion.