Reddit Traders Push Rocket Founder’s Fortune $25 Billion Higher
It’s the second big pop in wealth for Dan Gilbert in the past year, as shares of his mortgage lender soared 71% on day-trader speculation.
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The net worth of Quicken Loans Inc. Chairman Dan Gilbert jumped by $25 billion Tuesday as shares of his mortgage lender Rocket Cos. skyrocketed on speculation it’s in the crosshairs of Reddit day traders.
The move propelled Gilbert, 59 and now worth $64.1 billion, up 19 spots to No. 16 on the Bloomberg Billionaires Index of the world’s 500 wealthiest people, marking one of the biggest one-day moves in the listing’s nine-year history. His majority stake in Rocket, which closed the day up 71%, comprises 93% of his wealth.