Amateur investors from the American portal Reddit broke up the fortune of an American entrepreneur, founder of the mortgage company Rocket Cos, in a day. Dan Gilbert’s $ 25 billion. Bloomberg reports.
The reason was the attention of speculative traders to Rocket shares. Due to the rise in the value of shares, the fortune of Gilbert, who owns a controlling stake in the company, has increased to $ 64.1 billion. The entrepreneur rose from 19th to 16th place in the ranking of the richest people in the world according to Bloomberg. Rocket shares represent 93 percent of Gilbert’s capital, the agency said.
This isn’t the first time in the past year that the founder of Rocket’s fortune has skyrocketed. The first significant jump was recorded in August 2020, when Gilbert’s equity more than quadrupled. The growth came after Rocket went public.
Rocket Cos. is the main mortgage lender in the United States. The company’s shares were included in the list of securities that have recently come to the spotlight of traders from the WallStreetBets forum on Reddit. They have declared war on Wall Street professionals and hedge funds who make money by shorting their stocks.