The 34-year-old billionaire of Bulgarian origin Vladimir Tenev and Baiju Bhat, founders of the company “Robinhood”, have big plans, they want a real revolution.
Several German media outlets are paying attention these days to a young man of Bulgarian descent: 34-year-old billionaire Vladimir Tenev, who emigrated to the United States as a child. Vladimir Tenev and Baiju Bhat have big plans. The two founders of the mobile application for stock exchange operations “Robinhood”, who met during their studies at Stanford University, have set a goal – no more, no less – to democratize the financial market for all “, writes the specialized edition” Manager Magazin “.
The Wall Street Revolution
“Trading securities from a mobile phone, buying and selling stocks with just a few taps on the display, at no charge: with this urge, Robinhood wants to revolutionize the rules that reign on Wall Street. However, Tenev and Bhat needs a lot more money – and they decided to get it on the stock exchange. (…) And yet “Robinhood”, the defender of the little ones, has yet to grow strongly – Tenev and Bhat know it well “, sums up” Manager Shop “.
Another German publication, the Finanz und Wirtschaft, wrote the following on the same topic: “The listing could have been more successful for Vladimir Tenev. Last Thursday, the CEO launched his Robinhood platform on the US technology exchange Nasdaq.
The securities began trading at a price of $ 38 per share, but at the end of the trading day their price fell by 8%. And the goal was for the shares to reach a level of at least 42 dollars, which would form the total stock exchange “weight” of the concern in the amount of 35 billion dollars.
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Vladimir Tenev, CEO and co-founder of Robinhood, walks in Times Square in New York after the IPO of his company on July 29, 2021. To his left (with a white blouse) is his wife Selina
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Nevertheless, the billionaire with Bulgarian roots and an American passport had already entered the list of the super-rich, compiled by Forbes. “
“Our dream”
“Manager Magazin” quoted Tenev as saying during his hearing in Congress: “Our dream is to make investment more accessible, especially for people with less money. We believe that the financial system should be designed so that to function for all, not just a handful of elected officials. “
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Baiju Bhat put his hand on Vladimir Tenev’s shoulder for a photo in front of the New York Stock Exchange after the IPO of their company in Nasdaq on July 29, 2021 in New York
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The German economic daily Handelsblatt also tells about the first day of Robinhood: “On the day their company goes public, Vladimir Tenev and Baiju Bhatt decide to take a walk on Wall Street. on their most important cornerstone: their Silicon Valley startup, founded eight years ago, is finally set foot on Wall Street.
The company, which is attacking the old financial world, is worth $ 32 billion on the stock market. Like most things in technology companies, this walk is perfectly staged. Photographers are stalking 34-year-old Tenev and 36-year-old Bhat, who are talking excitedly, hugging and posing with sparkling eyes in front of a Robinhood advertisement that their PR people are showing on big screens in Manhattan’s financial district.
According to the newspaper, Tenev’s personal fortune is $ 2.4 billion and Bhatt’s fortune is $ 2.8 billion. “But the festive mood did not last long. On the first day, their stock lost 8% of its value and ranked third in the eternal ranking of the most unsuccessful stock market starts of such companies.”
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The electronic screens of Times Square in New York announced the IPO of Robinhood, Thursday, July 29, 2021.
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The newspaper further tells the story of the two young entrepreneurs who founded two more companies before Robinhood, and clarifies that Tenev’s parents are Bulgarians who work at the World Bank. Handelsblatt and the other two German media did not fail to elaborate on the role that Tenev and Bhatt played at the beginning of the year, when Gamestop’s shares rose explosively thanks to the coordinated activities of retail investors.
The material is published in DW
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