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The foundation of Schiff's wealth was solidified when he co-founded Euro Pacific Capital in 1988. Initially, the firm acted as a brokerage firm, helping to facilitate trade between the United States and Europe. However, Schiff soon realized that the real profits were in managing other people's money. He transformed the company into an asset management firm, focusing on international investing. This pivot was genius, as it allowed him to leverage his unique insights regarding the U.S. dollar and the global economy. As the CEO and Chief Global Economist of Euro Pacific Capital, he oversees billions of dollars in client assets. This management fee, along with the performance fees generated by successful investments, constitutes a significant and steady portion of his annual income.
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