Elon Musk’s net worth also surged on Thursday, rising $4.6 billion as Tesla stock climbed ever higher. The 11% jump in Rocket Companies’ stock price Thursday may also be tied to the company making an appearance on CNBC, where Mad Money host Jim Cramer talked up the stock to retail investors. He owns 95% of Rocket Companies’ stock, which means that a small movement in the stock price can have an outsized impact on the value of his stake. The early August IPO was the second time Gilbert took the company public since founding it in 1985, when it was called Rock Financial. It’s not a fintech, it’s a mortgage company.”

Source: Forbes August 20, 2020 20:55 UTC