Vlad Tenev Biography & Net Worth

Vlad Tenev Biography & Net Worth

Bulgarian-born businessman Vlad Tenev is an American billionaire who is probably best known for his contributions to the US-based financial services and investment company, Robinhood. He co-founded the company with the objective of attracting small, retail investors, with Baiju Bhatt, and currently serves as its Chief Executive Officer.

Early Life: Childhood, Education

Vladimir Tenev was born in Varna, Bulgaria in the year 1987. At the age of five, he joined his parents in moving to the United States. His parents were both employees of the World Bank.

Vlad was a student of Thomas Jefferson High School for Science & Technology in Fairfax County, Virginia. He enrolled in Stanford University for his advanced studies and finally graduated with a degree in mathematics. Later on, he enrolled at the University of California, Los Angeles for a mathematics Ph.D., but dropped out to work with his friend Baiju Bhatt, whom he met back at Stanford.

Professional Life: Entrepreneurial Career

Vlad and his former college roommate Bhatt eventually became best friends and set out to build something in their futures together. In 2010, the two friends started Celeris, a high-frequency trading company which they later abandoned in January the following year to create Chronos Research, a company that specialized in selling low-latency software to banks and trading firms and banks.

In 2013, Vlad and Bhatt worked together like they’ve always done and came up with the magnificent Robinhood, a trading platform that is internet-based. A funding round in May 2018 increased Robinhood’s valuation to $6 billion, and the two friends Bhatt became billionaires. It was also reported in 2020 that the company earned a revenue of $180 million.

Controversy: GameStop Debacle

On January 28, 2021, Vladimir Tenev defended Robinhood’s decision to prevent its users from buying options or stock in several securities, notably GameStop, during the GameStop controversy. The decision led to widespread criticism from several angles, including users of the app, users on various social media networks, and politicians in American parties. In January, Robinhood prevented users from purchasing GameStop, AMC and a number of other “meme” stocks due to what the company’s leadership said was a lack of liquidity to fulfill trading regulations.

On February 18, 2021, Vlad testified before the U.S. House Committee on Financial Services regarding the Robinhood company’s role during the GameStop controversy. Vlad was heavily criticized by members of both major political parties and was slated for struggling to provide reasonable answers to a number of questions. In its S-1 filing with the SEC on July 1, 2021, Robinhood disclosed that the United States Attorney’s Office had executed a search warrant for Vlad’s phone as part of an investigation into the GameStop situation.

Achievements: Awards & Honors

Vlad won Forbes 30 Under 30 Young Traders award in 2016. He was invited to serve as the keynote speaker at the University of California, Los Angeles’ 2019 Math Commencement Ceremony.

His application, Robinhood, is a five-time CNBC Disruptor Fifty company that topped the list in 2021.

Personal Life: Wife, Kids

Vladimir is a married man. As of today, he is married to Celina Tenev. The couple are the proud parents of one child.

Vlad Tenev Net Worth: Salary, Income Sources, Investments, Shares

The Bulgarian American entrepreneur and business owner is best known for his works at Robinhood.

Vladimir Tenev’s net worth is $1 billion at the current time. However, it has been estimated that the Robinhood co-founder and chief executive officer will have a fortune of over $2.5 billion in the nearest future, especially during his real paydays years later when he could bag over $4.7 billion in stock compensation.

Robinhood is seeking a value of roughly $35 billion in its upcoming IPO, with a share price of around $38 to $42 per share. The offering marks the coronation of the controversial investing firm that made its mission “democratizing finance for all”. Yet, Robinhood’s millions of low-income investors have also created massive fortunes for the company’s founders. According to the SEC filing in September 2021, Vlad, 34, and co-founder Bhatt, 36, will each sell shares worth around $50 million in the initial public offering. After the offering, each of the men will own about 8% of Robinhood’s stock, and together they will own roughly two-thirds of the voting shares. After the offering, based on the guesstimate of $38 to $42 per share, each of Vlad and Bhatt will have stock worth between $2.5 billion and $2.8 billion. The duo could earn billions more in the nearest future thanks to a princely compensation package. In May 2021, Robinhood’s board approved a policy that would award Vladimir Tenev up to 22.2 million units of restricted stock over the next 8 years if the stock hits expected targets. Bhatt would get 13.2 million shares under the plan. If Robinhood stock hits the targets — which is estimated between $120 to $300 — Vlad would get stock valued at around $4.7 billion. Bhatt’s shares would be worth about $2.8 billion.