Vlad Tenev and Baiju Bhatt, who were roommates at Stanford, are each assured to be worth $2.6 billion on paper when their trading app lists on Nasdaq later this month.
Robinhood expects to sell shares between $38 and $42 each.
CEO Tenev and Chief Creative Officer Bhatt will each own 7.9% of the company’s outstanding shares. They are selling $50 million worth of shares each in the offering.