JAMEL TOPPIN FOR FORBESWish cofounder and CEO Peter Szulczewski is worth $1.9 billion after taking public the online retailer he started nine years ago, which sells cheap junky stuff mostly sourced from China. Szulczewski is the company’s largest individual shareholder with a nearly 18% stake, excluding his unvested options and unvested restricted stock units. That helped it to raise $1.1 billion at a valuation of $17 billion, up from a previous valuation of $11 billion after a funding round in 2019. Szulczewski first appeared on Forbes’ billionaires list in 2019, with a fortune estimated at $1.4 billion. For more, read: Wish Built An $11 Billion Business On Insanely Cheap Shipping — Can It Survive Without It?

Source: Forbes December 16, 2020 18:07 UTC