Robinhood cofounders Vlad Tenev (left) and Baiju Bhatt (right) celebrate the company's public market ... [+] debut at the Nasdaq. Cindy Ord/Getty Images for RobinhoodPopular stock trading app Robinhood listed its shares on Thursday in what turned out to be a downbeat IPO. But while shares closed down 8% from the initial offering price of $38 a share, the company’s two founders are now worth billions of dollars each. Based on a $34.82 closing price, Tenev, 34, and Bhatt, 36, are now worth $2.1 billion and $2.4 billion, respectively, according to Forbes’ calculations. Robinhood’s S-1 filing from earlier this month also disclosed an incentive-laden restricted stock award plan that could earn the two cofounders billions in coming years.

Source: Forbes July 29, 2021 21:22 UTC