Brian Chesky is now the “host” of a multi-billion-dollar fortune thanks to his company Airbnb’s massive IPO.

The popular home-sharing platform began trading at a whopping $146 per share on Thursday after pricing late on Wednesday at $68 per share, raising roughly $3.5 billion in its IPO—a big bump up from its previous target of between $56 and $60 per share earlier this week. The stock is trading on the Nasdaq under the ticker “ABNB.”

What is Brian Chesky’s net worth?

With the stock’s pricing and current trading price, CEO and cofounder Chesky’s net worth could be around $11.2 billion based on Fortune‘s back-of-the-envelope calculations. As with most founders, the majority of Chesky’s net worth is likely tied to his company—with the Airbnb IPO offering the first detailed look into the CEO’s holdings in the home-sharing business.

According to Airbnb’s most recent IPO filing, Chesky sold 517,241 shares priced at $68 each and still holds 76.4 million in Class B shares following the offering. While Chesky is also compensated in restricted stock units (RSUs) that vest over the next 10 years based on stock price targets, he has chosen to donate those net proceeds to charity and philanthropic causes, per the filing.

To be sure, with a rough net worth of over $11 billion, Chesky’s fortune is dwarfed by many of the biggest tech CEOs, but it’s on par with the likes of Twitter’s Jack Dorsey ($11.9 billion) and even tops Snapchat’s Evan Spiegel ($9.2 billion) and DoorDash’s Tony Xu, whose Wednesday IPO boosted his net worth to nearly $3 billion, per Bloomberg data and estimates as of Wednesday.

Chesky cofounded Airbnb in 2008 with Nathan Blecharczyk and Joe Gebbia and raised a total of $6.4 billion in the private markets, according to PitchBook data.

The San Francisco-based company’s IPO is one of several big year-end public debuts to round out a “record-breaking” year for companies going public, New York Stock Exchange’s Stacey Cunningham recently told Fortune. With a valuation of over $100 billion in early trading, Airbnb is one of the largest IPOs of 2020.

And based on what some market insiders are seeing, 2021 is looking to be another busy year for making billionaires of executives.

Fortune writer Lucinda Shen contributed to reporting.

More must-read finance coverage from Fortune:



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *