10 New Billionaires from IPOs in 2021
Photo: KnowInsiders.

Here are 10 of the most notable moguls who joined Forbes’ World’s Billionaires list this year thanks to a traditional IPO; net worths are as of March 5, 2021.

Over the past year, 1,489 public offerings raised $314 billion globally, up from 1,239 IPOs and $234 billion in the previous year. That includes big names like food-delivery company DoorDash, which listed its shares on the New York Stock Exchange in December—turning its co-founder and chief executive, Tony Xu, and his two co-founders, Andy Fang and Stanley Tang, into billionaires—and woman-centric dating app Bumble, which went public on the Nasdaq in February. The IPO has made Bumble’s co-founder and CEO, Whitney Wolfe Herd, the world’s youngest self-made female billionaire, at age 31.

List of 11 new billionaires from IPOs in 2021

1. Pan Dong

2. Vyacheslav Kim

3. Mikhail Lomtadze

4. Pablo Legorreta

5. Matt Moulding

6. Tony Xu

7.Jared Isaacman

8. Bang Shi-hyuk

9. Gong Yingying

10. Whitney Wolfe Herd

11. David Helgason

#1 | Pan Dong

Top 11 New Billionaires from IPOs in 2021
Photo: Nhip Cau Dau Tu

NET WORTH: $8.3 BILLION

CITIZENSHIP: CANADA

SOURCE OF WEALTH: CONSUMER GOODS

Dong is the richest female newcomer to this year’s list. She chairs laundry detergent maker Blue Moon Group Holdings, which her husband, Luo Quiping, founded. Two decades ago, Pan Dong was a teacher at a university in Guangzhou, China. She and her husband Luo Qiuping own and operate Blue Moon Group Holdings Ltd., which sells more soap in China than Unilever and Procter & Gamble. The company’s liquid soap is the most popular in China. Blue Moon’s recent IPO was one of the biggest in Hong Kong this year and raised $1.3 billion for the company, Jobbie Crew cites.

#2 | Vyacheslav Kim

Top 11 New Billionaires from IPOs in 2021
Photo: Forbes

NET WORTH: $3.3 BILLION

CITIZENSHIP: KAZAKHSTAN

SOURCE OF WEALTH: FINTECH

Vyacheslav Konstantinovich Kim is a businessperson who has been the head of 5 different companies and currently is Chairman at Kaspi Bank JSC, Chairman for Kaspi.kz JSC, General Director at Kaspi Group JSC and President at Taekwondo Federation. Mr. Kim is also on the board of Kolesa TOO and Allur Group of Cos. Jsc.

#3 | Mikhail Lomtadze

NET WORTH: $3.2 BILLION

CITIZENSHIP: GEORGIA

SOURCE OF WEALTH: FINTECH

Chief executive Lomtadze and early investor Kim have steered Kaspi—payments, e-commerce, and mobile banking app popular in Kazakhstan—from a small-time retail bank to a London public listing. Half of Kazakhstan’s 18 million people use the service.

#4 | Pablo Legorreta

Top 11 New Billionaires from IPOs in 2021
Photo: Forbes Mexico

NET WORTH: $2.9 BILLION

CITIZENSHIP: UNITED STATES

SOURCE OF WEALTH: INVESTMENTS

Pablo Legorreta is the founder of Royalty Pharma, the world's biggest acquirer of pharmaceutical royalty streams. Royalty Pharma, which conducted an IPO in 2020, has collected revenue slices of blockbuster drugs like Humira, Imbruvica, Lyrica, and Xtandi. A former investment banker at Lazard Frères, Legoretta started Royalty Pharma in New York as a private equity vehicle in 1996. Legoretta is the sole owner of RP Management, the investment manager that oversees Royalty Pharma's $17 billion of assets.

#5 | Matt Moulding

Top 11 New Billionaires from IPOs in 2021
Photo: BBC

NET WORTH: $2.9 BILLION

CITIZENSHIP: UNITED KINGDOM

SOURCE OF WEALTH: E-COMMERCE

Moulding’s e-commerce empire, The Hut Group, went public in London in September, 17 years after he founded it. Two months after the listing, Moulding—who has a nearly 33% stake in the company—got a more than $1 billion share bonus in THG stock that the board had approved. The Hut Group runs more than 100 e-commerce websites across 169 countries, with products ranging from skincare to designer fashion.

Read more: Top Five Countries With The Most Billionaires 2021

#6 | Tony Xu

Top 11 New Billionaires from IPOs in 2021
Photo: CNBC

NET WORTH: $2.8 BILLION

CITIZENSHIP: UNITED STATES

SOURCE OF WEALTH: FOOD DELIVERY SERVICE

Xu is the co-founder and CEO of food-delivery company DoorDash, which went public on the New York Stock Exchange in December. It delivers meals from 390,000 restaurants in the United States, Canada, and Australia. DoorDash went public in early December 2020; Xu owns slightly more than 4% of it, enough to make him a billionaire. His cofounders, Andy Fang and Stanley Tang are also billionaires based on their 4% stakes in the company.

#7 | Jared Isaacman

Top 11 New Billionaires from IPOs in 2021
Photo: Sky News

NET WORTH: $2.3 BILLION

CITIZENSHIP: UNITED STATES

SOURCE OF WEALTH: PAYMENT PROCESSING

Isaacman founded the payment processing firm Shift4 Payments in his parents’ basement at age 19 and took it public nearly two decades later on the New York Stock Exchange. The June 2020 IPO raised $345 million. He has been flying fighter jets for fun, including a Soviet-era MiG-29, for years. “It’s still therapy,” he told Forbes in October. “It’s still an escape.”

#8| Bang Shi-hyuk

Top 11 New Billionaires from IPOs in 2021
Photo: NPR

NET WORTH: $2.3 BILLION

CITIZENSHIP: SOUTH KOREA

SOURCE OF WEALTH: ENTERTAINMENT

Bang Shi-hyuk is the founder and chairman of Big Hit Entertainment, one of South Korea's largest music labels and entertainment agencies. He took Big Hit public in October 2020, marking South Korea's largest IPO in three years, which made him a billionaire. Big Hit's success is attributed to its seven-member boy band, BTS, which scored three No. 1 albums on the U.S. Billboard 200. Bang worked as a composer for JYP Entertainment, one of Korea's "Big Three" music agencies, before starting Big Hit in 2005. Bang's distant cousin, Bang Jun-hyuk of online gaming company Netmarble, is also a billionaire; the firm is a shareholder of Big Hit.

#9 | Gong Yingying

Top 11 New Billionaires from IPOs in 2021
Photo: Celebrity Family

NET WORTH: $2.1 BILLION

CITIZENSHIP: CHINA

SOURCE OF WEALTH: HEALTH IT

Gong is CEO, chair and founder of healthcare analytics firm Yidu Tech, which listed its shares in Hong Kong in January. She has a 43% stake in the company, which uses artificial intelligence to process health records for hospitals and pharmaceutical, biotech and medical device companies.

#10 | Whitney Wolfe Herd

Top 11 New Billionaires from IPOs in 2021
Photo: Forbes

NET WORTH: $1.3 BILLION

CITIZENSHIP: UNITED STATES

SOURCE OF WEALTH: DATING APP

Wolfe Herd launched Bumble in 2014 with Andrey Andreev, the Russian billionaire founder of dating site Badoo, who sold his majority stake to investment firm Blackstone in 2019—four months after a Forbes investigation revealed a toxic work culture at its London offices. Badoo denied the allegations.

A company catering to women and led by women has made its 31-year-old female founder a billionaire. Shares of Bumble Inc, the owner of the dating app where women make the first move, soared 67% in its trading debut to $72 at 1:03 pm in New York, valuing Chief Executive Officer Whitney Wolfe Herd’s stake at $1.5 billion.

#11 | David Helgason

Top 11 New Billionaires from IPOs in 2021
Photo: Youtube

NET WORTH: $1 BILLION

CITIZENSHIP: ICELAND

SOURCE OF WEALTH: SOFTWARE

Helgason cofounded video-game software developer Unity Software in Denmark in 2004; its game engine was used to produce popular titles such as Pokemon Go, Among Us and Overcooked. He served as CEO until 2014 and remains on the board. The company was listed on the New York Stock Exchange last September.

How many American Billionaires in 2021 and Fact About the List of Richest People How many American Billionaires in 2021 and Fact About the List of Richest People
A record number of billionaires, about one new one every 17 hours, have been created during the COVID-19 pandemic, according to Forbes magazine’s World’s Billionaires List 2021.

The magazine’s 35th annual list of the world’s wealthiest hit an unprecedented 2,755 billionaires, 660 more than a year ago, worth a total of US$13.1 trillion, up from US$8 trillion on the 2020 list. Another 63 women became billionaires, totalling 328. As a group, the women on the list are worth US$1.5 trillion, a nearly 60 per cent increase over the past year.

There were 205 people, all but two of which are self-made, who became billionaires in China in the past 12 months, creating a record 626 billionaires in the country. The new billionaires include Chen Zhiping, Chair and CEO of vaping device maker Smoore International, who is worth US$15.9 billion; China’s richest new woman billionaire, Kate Wang, CEO of vaping company RLX Technology, worth US$5 billion; and Cao Renxian, Chair and President of Sungrow Power Supply, who has a net worth of US$5.3 billion.

The world’s 10 richest people are now worth a combined total of US$1.2 trillion, having grown their fortunes by around 66 per cent over the past 12 months. A total of 86 per cent of billionaires are richer than they were a year ago.

There are a record high of 493 newcomers to the billionaires club, including 210 from China and Hong Kong and 98 from the US. The richest newcomer, at US$38.2 billion, is Miriam Adelson, who inherited her husband Sheldon Adelson’s casino empire following his death in January.

Other notable new entrants include reality TV personality Kim Kardashian West, Bumble dating app CEO Whitney Wolfe Herd — the world’s youngest self-made female billionaire — and Guillaume Pousaz, founder of payments firm checkout.com. The youngest self-made billionaire is 26-year-old Austin Russell, who dropped out of Stanford University to create automotive sensor firm Luminar Technologies, which makes lidar sensors for self-driving cars.

Amazon Founder Jeff Bezos, who is relinquishing the CEO mantle in the third quarter of 2021, is the world’s richest person for the fourth year running, worth US$177 billion, up US$64 billion in the past year due to the increase in Amazon shares. Tesla and SpaceX CEO Elon Musk is the second richest person with a US$151 billion fortune, a US$126.4 billion increase on a year ago, when he placed 31st at US$24.6 billion. French luxury goods tycoon Bernard Arnault maintained third place as his fortune nearly doubled to US$150 billion from US$76 billion.

The increase in their wealth was due to the share price rises of Amazon, Tesla and LVMH. In 2020, Amazon shares rose 73 per cent; Tesla stock increased 705 per cent and LVMH shares were up 86 per cent.

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