Robinhood’s co-founder Vladimir Tenev is Bulgarian-American Billionaire who was born in 1986. The 34-year-old was born in Bulgaria and his parents migrated to America when he was 5 years old. As a kid, he attended the Thomas Jefferson Highschool for Science and Technology in Fairfax County, Virginia. He then earned a degree in mathematics from Stanford University. Robinhood is an American financial services company. They were the first ones who launched a mobile app and got very well known in the industry as they pioneered commission-free trades of stocks and exchange-traded funds. Its founders Vladimir Tenev and Baiju Bhatt met each other at the University of California, Los Angeles while studying mathematics but later both of them decided to drop out and work on their ideas.
Their first ever project was called Celeris. In 2010, Tenev and Bhatt together started Celeris which was a high-frequency trading company. After a year or so they abandoned the idea of Celeris and moved to their next project which was to sell some low-latency software to other trading firms and banks. They decided to call the project Chronos Research. After a couple of years more both Tenev and Bhatt co-founded Robinhood which is also their current project. They also built up a waiting list of around 50,000 people and further told people that they could move up the waiting list if they refer it to their friends making it a velvet rope game as some might say. About the time of the release of the app in 2014 Robinhood was able to gather up a waiting list of a whole 1 million people while spending less to nothing in the marketing of the application. After a big funding session for their company in 2018, Robinhood’s value increased to $6 billion. This funding session made both Tenev and Bhatt billionaires. Tenev won the 2016 Forbes under 30 young traders award. Tenev also recently ended up getting into a big controversy as he defended his company’s views to stop buying stocks of certain companies like Gamestop. He ended up getting criticism from various politicians
Recently, on August 3, shares of Robinhood climbed up again by a huge amount of 24% which resulted in making both the co-founders Tenev and Bhatt $600 million richer. Based on the closing price of the day, Tenev’s net worth now stands at $2.9 billion according to the calculations by Forbes. Thanks to both retail investors and the wall street, Robinhood’s stock was one of the top traded stocks. Robinhood had around $29 billion market capitalization after going public just last week. After the recent surge in the position of the company in the market, Robinhood is now valued at $39 billion while both the co-founders own around 8% of the company. In the last few months, it is said that Robinhood had been quitely restructuring as Tenev said that they are doing through a major techonogical investement period in which they have already thrown $800 million of fresh venture capital as they are going to do alot of upgrades making the company better and improving the application too by adding more engineers to the company while 300 of them already being on staff.