He grew up in communist Hungary, emigrated to the United States and became a billionaire. Thomas Peterffy is Rich, worried and buying ad time.
He's not running for office. He's not part of a super PAC. He's not lobbying for or against any ballot measures. But billionaire Thomas Peterffy is spending millions on television ads this election season with one cautionary message: Avoid socialism.Posted by Jill Fallon at October 12, 2012 12:51 PM | Permalink
"I grew up in a socialist country and I have seen what that does to people. There is no hope, no freedom, no pride in achievement," he says with a soft Hungarian accent in the ad. "The nation became poorer and poorer, and that's what I see happening here."
Peterffy told CNN he expects to spend $5-$10 million on the ad buy, depending on its effectiveness. The spot will run on CNN, CNBC, Bloomberg, and test markets in Ohio, Wisconsin, and possibly Florida.
Peterffy left his country and moved to New York in 1965, where-without knowing English–he got a computer programming job on Wall Street. He later purchased his own seat on the American Stock Exchange in 1977 and, fast forward a few years, found himself the creator of Interactive Brokers, one of the first electronic trading firms.