Webull’s SPAC-driven surge crowned founder Anquan Wang with a $5.2B paper fortune—more than double Robinhood’s Vlad Tenev—despite ongoing losses. Are SPAC's back?
Webull was worth more than $29 billion after its shares closed at $62.90 Monday. Robinhood has a value of $39 billion, giving founder Vlad Tenev a net worth of $2.3 billion, according to the Bloomberg Billionaires Index. It’s the second time in recent weeks that a founder’s paper fortune has jumped to eye-watering levels. Newsmax Inc. founder Christopher Ruddy’s wealth topped $9 billion the day after shares of his cable network began trading and surged to $233. They’ve since fallen to $26, still well above the $10 a share offering price.
