UPDATE: It didn’t take long for New York Magazine’s story on a 17-year-old stock whiz with a rumored net worth of $72 million to make a splash. But the story’s juicy premise unraveled almost as quickly.
ORIGINAL STORY: Most high school students save up money for a car by working at a store or at a fast food restaurant, but not Stuyvesant High School student Mohammed Islam.
The 17-year-old from Manhattan told New York magazine he has made $72 million on Wall Street.
During his lunch breaks, Mohammed started out trading penny stocks and eventually made his millions with crude oil and gold.
Mohammed says he wants to buy an apartment in Manhattan and a BMW, but his parents won't let him until he turns 18 and has a driver's license.
He says he'll start a hedge fund company after he graduates high school in a couple of months.
Mohammed also hopes to make at least $1 billion by the time he graduates from college.