Karen Backfisch-Olufsen may not be a household name to everyone, but her story is both interesting and inspiring. She became known to many after marrying Jim Cramer — the loud and energetic host of Mad Money on CNBC. But Karen is much more than just “Jim Cramer’s ex-wife.” She is a smart, private, and successful woman with a strong background in finance.
In this article, we’ll take a close look at Karen Backfisch-Olufsen’s life. From her early days to her career, her time with Jim Cramer, and her quiet life today — we’ll cover everything in simple and easy words. Let’s get to know the real Karen.
Karen Backfisch-Olufsen Quick Bio
| Full Name | Karen Backfisch-Olufsen |
| Known As | Jim Cramer’s ex-wife |
| Date of Birth | February 25, 1965 |
| Age (as of 2025) | 60 years old |
| Nationality | American |
| Ethnicity | Caucasian-white |
| Education | SUNY Stony Brook |
| Profession | Ex-trader, Businesswoman |
| Marital Status | Divorced (Jim Cramer, 1988–2009) |
| Children | Two – Cece Kramer, Emma Kramer |
| Net Worth (est.) | $1 million |
| Height | 5 ft 4 in (165 cm) |
| Instagram (Private) | @igotyoubabe6070 |
Who Is Karen Backfisch-Olufsen?
Karen Backfisch-Olufsen is an American businesswoman and former hedge fund trader. Many people know her as Jim Cramer’s ex-wife, but her personal story goes far beyond that.
She worked in high-pressure trading rooms and helped make big financial decisions. She was a big part of Jim Cramer’s success during his early years in the hedge fund world. Even though she now lives a very private life, Karen’s name still comes up because of her past work and her calm and smart personality.
Karen Backfisch-Olufsen’s Early Life and Family
Karen was born on February 25, 1965, in the United States. She comes from a talented family. Her sister, Wendy Finerman, is a famous movie producer who won an Oscar for Forrest Gump. Her brother, Mark Finerman, is also successful in finance.
Karen was raised in the U.S. with her siblings, but she doesn’t share much about her parents or childhood. She likes to keep those parts of her life private. Still, it’s clear that she grew up in a home that supported learning, success, and hard work.
Education and Early Ambitions
After finishing high school, Karen went on to study at the State University of New York at Stony Brook. While we don’t know her exact major, her later career shows she likely studied something related to finance or business.
From early on, Karen was smart and driven. She didn’t just want to watch from the sidelines — she wanted to be part of the action. And that’s exactly what she did when she entered the fast-moving world of Wall Street.
How Karen Met Jim Cramer
Karen and Jim met while working at Michael Steinhardt’s hedge fund in the 1980s. Both were young, full of ideas, and eager to make a mark in the finance world. It didn’t take long for their work relationship to turn into something more.
They shared the same world — long days, stock charts, and big decisions. Over time, their bond grew stronger. After five years of dating, Karen and Jim got married in 1988. It was the start of a new chapter, both in their careers and their personal lives.
Marriage to Jim Cramer and Family Life
Karen and Jim were married for 21 years. During that time, they supported each other through big career changes and personal growth. Together, they had two daughters, named Emma and Cece.
Even though Jim later became a loud and famous TV personality, their home life was said to be quiet and private. Karen chose to focus on her family while still using her strong skills in finance. She helped raise their daughters in Summit, New Jersey, while Jim moved deeper into the public spotlight.
Karen Backfisch-Olufsen’s Career in Finance
Karen didn’t just sit behind the scenes — she helped run things. She worked at Cramer & Co., the hedge fund Jim managed, and played a major role in its success. In fact, Karen was praised for helping the firm survive the 1987 market crash, which was a very tough time for investors.
She was smart, calm, and clear-thinking — the perfect balance to Jim’s high-energy style. A 1989 Fortune Magazine article even called them “Mr. and Mrs. Aggressive,” comparing their trading power to big names like Warren Buffett.
Later, Karen became the Vice President at Lehman Brothers, and also co-founded Metropolitan Capital Advisors. She took on high-level roles, joined important boards, and became known for her skills in value investing, balance sheets, and M&A arbitrage.
Karen’s Life After Retirement and Motherhood
After the birth of her first daughter in the early 1990s, Karen chose to step back from trading. She wanted to focus on being a mom and taking care of her family. But that didn’t mean she stopped working altogether.
Over the years, Karen stayed active in her own way. She served as a board member for GrafTech International and a trustee for Montefiore Medical Center. She was also part of the Michael J. Fox Foundation, showing her interest in giving back.
Her life after trading was quieter, but still full of purpose. Karen chose a different kind of success — one that involved raising a family, helping others, and staying true to herself.
Jim Cramer and Karen Backfisch-Olufsen’s Divorce
After 21 years of marriage, Karen Backfisch-Olufsen and Jim Cramer decided to end their relationship in 2009. They did not share the exact reason for their split, and both stayed very private about the details. But one thing was clear — their separation was respectful and peaceful.
In 2010, Jim shared in a podcast interview that he gave most of his trading money to Karen as part of the divorce. He also sold their home in Summit, New Jersey, to her for just $1. That house was bought in 1999 for $2.375 million. Karen later sold it in 2019 for $3.675 million.
There was also a court case involving a neighbor, D. Wyatt Stone. Karen and Jim had invested $4.1 million into a real estate project, which failed. They filed a lawsuit in 2009, and it was quietly settled in 2015.
Where Is Karen Backfisch-Olufsen Now?
Today, Karen Backfisch-Olufsen lives a calm and private life. She is not active on public social media, but her daughter Emma sometimes tags her in posts. Karen has a private Instagram account named @igotyoubabe6070.
In 2021, Karen and Emma were involved in a serious car accident on the New Jersey Turnpike. A distracted driver caused a chain-reaction crash. Thankfully, both Karen and Emma were okay, though it was a scary moment. Emma shared the story with her followers and praised her mom’s strength during the accident.
Karen enjoys spending time with her daughters and stays out of the spotlight. She is rarely seen in public, but her presence is still felt through her family and the quiet strength she shows.
Did Karen Backfisch-Olufsen Remarry?
After her divorce from Jim Cramer, Karen Backfisch-Olufsen chose to stay away from the public eye. There is no public record of her dating or marrying someone else. She has kept her personal life very private.
Jim, on the other hand, found love again. He married Lisa Cadette Detwiler in April 2015. Lisa is a real estate broker and the general manager of an Italian restaurant in Brooklyn. She and Jim met through friends in 2006. Lisa once said in an interview that at first, she didn’t want to date Jim because of his loud TV personality — but later, she changed her mind after getting to know the real person behind the camera.
Karen Backfisch-Olufsen’s Net Worth and Legacy
Even though Karen Backfisch-Olufsen stays away from the media, her legacy in the world of finance remains strong. She was known as a smart and careful investor, someone who made good decisions even in tough markets.
Today, her estimated net worth is around $1 million. Most of her wealth likely comes from her early trading success, her share in the divorce settlement, and the sale of the Summit home.
Karen’s story is not about fame. It’s about focus, intelligence, and knowing when to step back. She is remembered as someone who supported a famous husband, raised two daughters, and quietly built her own path.
Final Thoughts
Karen Backfisch-Olufsen is a great example of someone who made a strong mark in both work and family life. While many people know her as Jim Cramer’s ex-wife, there is so much more to her story.
She worked hard in the world of finance, helped build a strong family, and then stepped away to live quietly. In today’s fast world, her choice to live calmly and privately is something many admire.
Whether you’re curious about her career, her past with Jim Cramer, or what she’s doing now, one thing is clear: Karen Backfisch-Olufsen’s story is worth knowing.
You may also read: Who Is Janet Adelberg? Meet Clive Davis’s Mysterious Ex-Wife
