"Klarna made its New York stock exchange debut this week, sending its market cap soaring to $15 billion-propelling around 40 staffers to millionaire status overnight, with its executive team gaining the most from the IPO. It's not the first time Klarna's success has created ultra-rich employees-at least 115 of the business' workers have hit seven-figure net worths since 2021. And staffers at other tech companies, including Nvidia, Canva, and Palantir who invested early have also made it to the exclusive wealth club."
"The business' shares shot up as much as 43% on Wednesday, opening at $52 a share and closing at around $45.82 each, well above the IPO price of $40 ahead of the listing. This shot up Klarna's market cap to a whopping $17 billion-and it's estimated that the stock surge catapulted more than 40 current and former Klarna staffers up into the millionaires club, thanks to its employee stock perks."
"Of course, the fintech company's cofounders Sebastian Siemiatkowski and Victor Jacobsson had the most to gain from the debut. Despite leaving the company in 2012, Jacobsson still held onto 31.4 million shares valued at $1.1 billion at the time of the IPO-and will reportedly sell 2.5% of them. Meanwhile, CEO Siemiatkowski owns 25.6 million shares with a value of $920 million."
Klarna debuted on the New York Stock Exchange with shares opening at $52 and closing around $45.82, above the $40 IPO price. The IPO raised $1.37 billion and drove Klarna's market capitalization to an estimated $17 billion. The stock jump is estimated to have catapulted more than 40 current and former employees into seven-figure net worths, joining at least 115 staffers who have reached millionaire status since 2021. Cofounder Victor Jacobsson retained 31.4 million shares valued at about $1.1 billion and plans to sell a small portion; CEO Sebastian Siemiatkowski owns 25.6 million shares valued near $920 million.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]