Investors from Reddit have boosted the fortune of the founder of Rocket Cos.

November 16, 2021 335

The fortune of the founder of the mortgage company Rocket Cos. Daniel Gilbert increased by $ 32.3 billion in a day, or more than 64% according to the rating Forbes Real-Time updated in real time.

Now his fortune is estimated at $ 82.7 billion, which allowed Gilbert to enter the ten richest billionaires in the world, displacing the richest businessman in Asia Mukesh Ambani, writes Forbes.

Gilbert`s fortune has increased due to the rise in the shares of his Rocket Cos. by 71% on March 2. The company could be interested in traders from the WallStreetBets community on Reddit, wrote CNBC. According to FactSet, approximately 40% of the company`s shares are short, making it a "classic target" for investors with Reddit.

At the end of January 2021, Reddit users raised the value of the shares of the" dying " GameStop chain stores by 700%. Flash mob has become an Internet phenomenon, which impacted the profits of hedge funds and caused a negative reaction from Wall Street.

  • In February WSJ & nbsp; reported that the US Department of Justice has launched an investigation into market manipulation after the investor war with Reddit and Wall Street.

  • Also in February, a group of investors filed a lawsuit against Keith Gill, the informal" leader " users on Reddit, accusing him of manipulating GameStop shares. Because of this, Gill & nbsp; lost professional financial broker status.