The rich cry too: these are the most fleeting billionaires of 2021

In 2021, the market witnessed a new record of IPOs, fueled by the arrival of SPACs, and falls from grace due to poor returns, all accompanied by successive waves of the pandemic. Quite a roller coaster of wealth in which one day you’re part of the billionaires club and the next you’re just very rich. Here is the list of those who have been in the Olympus of billionaires for the shortest time.

1. The first place is held Anthony Tan, co-founder and CEO of Grab, who was a billionaire for a few hours. On December 2, Grab went public through the largest merger with a SPAC in history, valued at $ 40 billion. Shares in the delivery, transportation and financial services app started trading at $ 13.06, pushing Tan’s stake past the $ 1 billion barrier. However, this was short-lived since the shares have fallen to around $ 7.14 on December 15. For his part, Tan’s current net worth is $ 600 million.

2. Like Tan, Tim Chen became a billionaire and ceased to be a billionaire the day his company, Nerdwallet, went public.. After opening at $ 23.50, the personal finance company briefly rose to $ 34.44 and Chen’s 31.7 million shares were worth $ 1.09 billion. But as soon as it came, it was gone. Nerdwallet shares have not passed the $ 30 threshold since then and are priced at around $ 15.46. As of December 15, Chen’s net worth is less than 500 million.

3. The third place is occupied by Jean Qing Liu, presidenta de DiDi Global, who was part of the billionaires club more than his predecessors, although not much. When the company debuted on the New York Stock Exchange, its net worth was around $ 1.1 billion. Things went wrong after it was learned that the Chinese regulator had launched an investigation into the company, which caused DiDi’s shares to fall 27% and, with them, Liu’s fortune. A few weeks ago, DiDi announced its withdrawal from the New York Stock Exchange following pressure from China, concerned about the leak of sensitive data. As published Forbes, the company’s shares have fallen 60% since its debut. Liu’s net worth is $ 466 million.

4. JoeBen Bevirt, founder and CEO of Joby Aviation, lasted less than three months in the billionaires club. The company, focused on the development of electric air taxis, does not yet have any products on the market, which did not prevent it from going public. At first, investors showed great interest in Joby Aviation, causing its shares to rise 6% on the day of its debut. After learning that Joby’s electric plane will not receive certification from the Federal Aviation Administration until 2023, that interest has been deflated. Shares in the company have fallen 42% since August and Bevirt’s equity now stands at $ 670 million.

5. In fifth place is Carl Daikeler, CEO de BeachBody. Motivated by the home sport craze, the fitness company went public through a SPAC merger in June, at which point Daikeler’s equity rose to $ 1.7 billion. But, like Peloton, BeachBody has been hurt by the relaxation of restrictions. The opening of the gyms has seen their shares drop more than 80% since then. Daikeler stopped being a billionaire in September.

6. The wealth of Anne Wojcicki, CEO of 23andMe, reached $ 1.3 billion in June, the day the genetic testing company went public. Since then, 23andMe’s journey has been a roller coaster, punctuated by ups and downs. Losses and problems guiding the business toward drug development have seen its shares plummet 43%.

7. In position number seven is Anthony Hsieh, Founder and CEO of LoanDepot. The mortgage lender’s debut went bad from the get-go, but it allowed Hsieh to increase his net worth to $ 2 billion. Less than eight months later, on December 15, that number had dropped to $ 649 million.. Housing market trends and bad press have seen LoanDepot’s stock tumble nearly 80% below its IPO price.

8. Below is Whitney Wolfe Herd, the youngest billionaire in the world and part of that 5% of richest women who have acquired their assets through work and not through inheritance, according to data from Bloomberg. The founder and CEO of the dating app Bumble saw her net worth rise to $ 1.5 billion in February, when the company’s shares rose more than 77% from its starting price. The unsatisfactory quarterly results sparked an investor stampede in November and deflated Wolfe Herd’s equity to $ 970 million.

9. In penultimate place is John Foley, founder and CEO of Peloton, who has not completed the year as a billionaire. The fitness company’s sales increased by as much as 250% in the first quarter of the year as a result of the pandemic. In parallel, Foley’s equity increased to $ 1.5 billion in April. The reopening of the gyms and the bad forecasts caused the Peloton CEO to leave the billionaires club seven months after joining. The commotion caused by the appearance of one of his bicycles on the return from Sex in New York it has not helped the company.

10. The investor and former president of Abbott Laboratories, Jack Schuler is the longest-serving of the coveted billionaire title. His investments in the health sector at the beginning of the pandemic caused his assets to skyrocket to $ 1.1 billion. However, not all of his bets have paid off equally well, which has reduced his fortune by as much as $ 800 million.