Robinhood CEO and co-founder Vlad Tenev will boast a fortune of over $2.5 billion when the company starts trading, according to an SEC filing. But his true riches will likely be made in the years after, when he could earn another $4.7 billion in stock compensation.
Robinhood is seeking a market value of up to $35 billion in its upcoming initial public offering, with a share price of between $38 to $42 a share. The offering marks the public coronation of the controversial investing platform that made “democratizing finance for all” its mission statement.
Tenev, 34, and co-founder Baiju Bhatt, 36, will each sell shares worth about $50 million in the offering, according to the SEC filing on Monday. After the offering, they will each own about 8% of the company’s stock and about two-thirds of the voting shares between them.
Based on the estimate of $38 to $42 a share, Tenev and Bhatt will have each stock worth stock worth between $2.5 billion and $2.8 billion after the offering.