Snap's Two Co-Founders Are Now Worth $5.3 Billion Each After IPO
Investor appetite for the first tech listing of the year boosted the fortunes of Evan Spiegel and Bobby Murphy.
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Snap Inc.’s Evan Spiegel and Bobby Murphy each added $1.6 billion to his fortune Thursday after shares in the photo-sharing mobile app closed at $24.48, 44 percent above their listing price.
Investor appetite for the first technology listing of the year boosted the net worth of each co-founder to $5.3 billion, propelling Spiegel, 26, and Murphy, 28, up more than 150 places on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people.