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Banks issued cards to consumers and expected small businesses to accept them without any help, outsourcing the process to third parties like MSI. MSI’s main business was selling the clunky terminals that swipe credit cards with magnetic strips. The world will come back to life,” says Isaacman. June 2020: Jared Isaacman (center) rings the opening bell at Shift4 Payments’ IPO on the New York Stock Exchange, three months into the pandemic. When that gig turned into a full-time job offer, he jumped at the chance to drop out of high school at age 16 and got his GED instead. In addition to the website work, MSI needed help with computer security, so Isaacman offered himself as an in-house consultant. (MSI), a payment processor based in nearby New Providence, New Jersey.
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One of their first clients was Merchant Services Inc. In 1998, along with his friend Brendan Lauber, who was two years older, he set up a small company called Decho Systems to design websites for local businesses. “I was always very motivated to get to their lifestyle and not very motivated about high school life,” he says. The only one still stuck at home with Mom and Dad, Isaacman wanted out. Tiffany and Marc, the eldest of the four Isaacman siblings, were 27 and 30, respectively, and both working. When he was still in high school in the quiet suburb of Far Hills, New Jersey, his brother Michael, eight years older, was buying his first house. Isaacman has been chasing an adrenaline rush since childhood. He had to turn back 500 feet from the summit due to dehydration, but he vows to try again. Vinson, a 16,000-foot wall of snow and ice 800 miles from the South Pole. He spent New Year’s Day in Antarctica scaling Mt. He retains a small stake in Draken as part of an estimated $100 million worth of additional assets, including a MiG jet and nine other planes.įor fun, Isaacman bullets the MiG faster than the speed of sound and climbs mountains to unwind from nonstop, intense 80-plus-hour weeks. Isaacman is now worth $1.4 billion, thanks almost entirely to his 38% stake in Shift4 Payments. It’s not a whole lot of time, so it really just comes down to maximizing it while you can,” says Isaacman. Jared Isaacman, his older brother Michael, and former Draken colleagues Sean “Stroker” Gustafson and Scott “Kidd” Poteet (from left to right) prepare to summit Mt.