PANews reported on October 9th that Robinhood Markets Inc.'s stock price has quadrupled this year, making it the best-performing stock in the S&P 500. This surge has been fueled by President Trump's deregulation of financial markets, which has led to rising stock prices and a surge in cryptocurrency trading. This surge has propelled Robinhood co-founders Vlad Tenev and Baiju Bhatt to their first appearance on the Bloomberg Billionaires Index's list of the world's 500 richest people, with personal fortunes of $7.5 billion and $8.8 billion, respectively.
The two co-founders each hold about 6% of Robinhood's shares and jointly control the board through a special class of super-voting stock. Bhatt is set to step down as an executive in 2024 but remain on the board.
