Ruddy ended the day with some $3.3 billion in stock after the share price jumped 735%. CNBC reported that on Tuesday morning, the stock jumped another 100%. The post Newsmax Stock Booms Day After Massive IPO — Making Network Founder an Overnight Billionaire first appeared on Mediaite.

The conservative news outlet’s blockbuster public listing on Monday catapulted its founder and CEO, Chris Ruddy, into the billionaire ranks.

The co-founders of a Michigan-based company that had the biggest initial public offering of 2024 have landed on Forbes’ 2025 list of the richest people in the world for the first time. Novi-based Lineage Inc.

The company later saw a sharp correction, plunging 79% on its third day as a publicly traded stock. It has now caught the attention of bearish investors, who are betting against its future performance

Forbes estimates that Ells—who was Chipotle’s CEO until 2018 and its executive chairman until 2020—is worth $1 billion, making him one of 288 fresh faces on this year’s World’s Billionaires list, publishing Tuesday. He might be the unlikeliest of all.

CoreWeave’s initial public offering, which started trading today, had a rocky path to the market but delivered a windfall to Magnetar Capital. The investor bet big on the AI data center startup but presciently protected itself from the risk of big losses.

Thomas Peterffy just pulled off a great trade.Don't Miss Our End of Quarter Offers: Discover the latest stocks recommended by top Wall Street

Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.

A right-wing media underdog just went public--and instantly minted billionaires. Here's what investors need to know.