Karen Backfisch-Olufsen, a prominent name in finance, is widely known as the ex-wife of CNBC’s “Mad Money” host Jim Cramer. But beyond her association with Cramer, Karen is a skilled hedge fund trader who contributed significantly to her ex-husband’s early success. This article explores her life and career, her role in Jim Cramer’s hedge fund, details about their relationship and eventual divorce, her involvement with CNBC, and where she is today.
Table of Contents
Karen Backfisch-Olufsen: A Brief Overview
Karen Backfisch-Olufsen is an American former hedge fund trader who rose to prominence through her work in the financial industry. Born in the United States, she gained recognition not only through her professional skills but also as the first wife of Jim Cramer, a television personality and stock market expert. Their collaboration at Cramer & Co. positioned Karen as a key figure in the firm’s success, especially during turbulent market periods.
Karen Backfisch-Olufsen’s Career In Finance
Karen began her career working with Michael Steinhardt’s hedge fund, one of the top-performing investment firms of the time. It was here that she met Jim Cramer. Later, she joined him in co-founding his hedge fund, Cramer & Co. Her strategic thinking and risk management skills played a pivotal role in helping the firm withstand major financial challenges, including the 1987 market crash. Jim Cramer once credited Karen for her ability to analyze markets more effectively than he, noting that her instincts and predictions helped guide their trading decisions.
Karen Backfisch-Olufsen CNBC Contribution
Although she was never a CNBC host or regular panelist, Karen Backfisch-Olufsen’s influence on the network was indirect but significant. Her former husband Jim Cramer built his media empire on CNBC, but often acknowledged that Karen’s support and financial acumen laid the groundwork for his success. Her role behind the scenes gave him the freedom and confidence to pursue television and financial journalism.
What Does Jim Cramer’s Wife Do For A Living?
Jim Cramer’s current wife, Lisa Cadette Detwiler, works as a real estate broker and also co-owns a Brooklyn-based Italian restaurant called The Longshoreman. She is not involved in the finance or media industries like Karen Backfisch-Olufsen. Lisa prefers to stay relatively out of the spotlight, focusing on her business and family.
Karen Backfisch-Olufsen Bio At A Glance
| Attribute | Details |
| Full Name | Karen Backfisch-Olufsen |
| Nationality | American |
| Professor | Former Hedge Fund Trader |
| Known For | Co-founder of Cramer & Co., ex-wife of Jim Cramer |
| Marital Status | Divorced (1988–2009) |
| Children | Two daughters: Cece Cramer and Emma Cramer |
| Social Media | Private Instagram under @igotyoubabe6070 |
Karen has opted for a life away from the media spotlight, and while she doesn’t have a dedicated Wikipedia page, her professional background continues to attract interest.
How Many Times Has Jim Cramer Been Married?
Jim Cramer has been married twice. His first marriage was to Karen Backfisch-Olufsen, which lasted over two decades. They tied the knot in 1988 and divorced in 2009. In 2015, Cramer remarried Lisa Cadette Detwiler, a real estate broker. Despite the end of his first marriage, Cramer remains publicly appreciative of Karen’s role in both his personal and professional life.
Inside Karen & Jim’s Divorce Settlement
After 21 years of marriage, Jim and Karen divorced in 2009. The financial settlement reportedly involved Karen receiving a significant portion of Jim’s trading earnings. Cramer even sold their Summit, New Jersey mansion to Karen for $1, which she later sold in 2019 for a profit. The split, though private, reflected a mature and mutually respectful parting of ways. The couple also jointly sued a former business associate in a real estate dispute, further illustrating that their post-divorce interactions remained civil and collaborative when needed.
Where Is Karen Backfisch-Olufsen Today?
Karen has largely stepped away from public life. She retired from active trading in the early 1990s to focus on raising her daughters. Karen currently lives a quiet life and maintains a close relationship with her children, particularly her daughter Emma, who is active on social media. In 2021, they were involved in a serious car accident but thankfully survived with minor injuries. Despite her low profile, Karen continues to be respected in financial circles for her intelligence and strategic contributions during her active years.
Is Karen Backfisch Married Again?
Since her divorce from Jim Cramer, Karen has not remarried or publicly introduced a new partner. She remains private about her personal life. Meanwhile, Cramer’s second marriage to Lisa Detwiler is often highlighted in media appearances, but Karen chooses to stay away from the limelight.
Final Words
Karen Backfisch-Olufsen played a pivotal role in Jim Cramer’s early financial success and remains an influential, if private, figure in the world of hedge fund trading. Her sharp instincts, business acumen, and contributions to Cramer & Co. helped build the foundation on which Cramer would later build his media empire. Although she has stepped out of the public eye, her legacy in finance and as a resilient figure in her own right continues to resonate. Karen’s story reflects the strength behind the scenes of high-profile success and a life dedicated to family after career triumphs.
