Based on a $46.80 closing price, Robinhood cofounders Vlad Tenev, 34, and Baiju Bhatt, 36, are now worth $2.9 billion and $3.3 billion, respectively, according to Forbes’ calculations. Tuesday’s stock surge added $557 million and $627 million, respectively, to Tenev and Bhatt’s net worths. Influential hedge fund manager Cathie Wood of ARK Invest, for example, recently added 1.85 million shares to her position in Robinhood. In total, her firm now owns around 3.15 million shares, worth nearly $150 million by Tuesday’s close. After Tuesday’s stock surge, markets now value the company at $39 billion.

Source: Forbes August 03, 2021 20:48 UTC