October 12, 2012

Freedom to Succeed

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.

"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.
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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.

Posted by Jill Fallon at October 12, 2012 12:51 PM | Permalink