{"id":19504,"date":"2025-06-27T16:30:09","date_gmt":"2025-06-27T16:30:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/19504\/"},"modified":"2025-06-27T16:30:09","modified_gmt":"2025-06-27T16:30:09","slug":"this-ai-ceo-just-doubled-his-wealth-to-10-billion-in-12-days-thats-over-100x-faster-than-other-billionaires-despite-having-zero-tech-background","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/19504\/","title":{"rendered":"This AI CEO just doubled his wealth to $10 billion in 12 days\u2014that\u2019s over 100x faster than other billionaires, despite having zero tech background"},"content":{"rendered":"

Forget Apple<\/a>, Amazon<\/a>, or Microsoft\u2014this year\u2019s breakout tech stock comes from a company few had even heard of six months ago.\u00a0<\/p>\n

CoreWeave<\/a>, a once-obscure AI cloud startup, went public in March at a disappointing<\/a> $40 per share. But in the last two months alone, its stock has surged by nearly 300%\u2014and so has the fortune of its shareholders, including its co-founder and CEO Michael Intrator.<\/p>\n

The 56-year-old former hedge fund manager\u2019s net worth has more than doubled in the last 12 days, from $5 billion to $10 billion, according to Bloomberg<\/a>. Making the jump to a double-digit billionaire is no easy feat. In fact, the average time is three years and four months; Intrator achieved it about 101x faster.<\/p>\n

Despite the company\u2019s initial lackluster start on the market, Intrator always knew that CoreWeave (and by extension, himself) would go on to \u201cgenerate enormous value.\u201d\u00a0<\/p>\n

\u201cI don\u2019t really care where it is today or tomorrow or the day after, but I believe fundamentally, the business model that we have, the software solutions that we have, the capacity to build and deliver this and the demand we see in front of us will lead to enormous value to our clients over time,\u201d Intrator previously told Fortune<\/a>.<\/p>\n

It doesn\u2019t take a tech genius to disrupt the tech industry<\/p>\n

The company\u2019s CEO is not alone in benefiting from the stock\u2019s success. The wealth of fellow cofounders also has soared. According to Bloomberg, CoreWeave\u2019s chief strategy officer, Brian Venturo, is now worth $6.4 billion, and Brannin McBee, the company\u2019s chief development officer, is worth $4.7 billion.<\/p>\n

The rise in their net worths may be credited to the fact that CoreWeave has secured many of the world\u2019s biggest tech companies as clients and partners, with the list including Nvidia, OpenAI, and Microsoft.<\/p>\n

And despite their success disrupting the tech industry, all three founders interestingly do not come from tech backgrounds; they come from the world of finance\u2014underscoring that breaking into AI doesn\u2019t require a resume line from a top tech company.\u00a0<\/p>\n

At the same time, it is helpful to know someone who does; CoreWeave brought in Nitin Agrawal<\/a> last year to serve as chief financial officer after most recently serving as the VP of finance for Google<\/a> Cloud and holding leadership roles at Amazon Web Services and Microsoft. Helping to build a company from the ground up requires a careful balance of being optimistic\u2014with the right people.\u00a0<\/p>\n

\u201cAt the end of the day, it\u2019s the people that matter, so make sure you take people along with you in your journey,\u201d he told Fortune<\/a> in March 2024. And you should \u201calways keep a healthy disregard for the impossible while being grounded in reality.\u201d<\/p>\n

Past success doesn\u2019t guarantee future performance<\/p>\n

Despite CoreWeave\u2019s bullish year, that doesn\u2019t mean it will stay around\u2014and other companies have learned the hard way about IPO bubbles.<\/p>\n

The stock of conservative media outlet Newsmax<\/a> surged 735% after its IPO in March, giving its founder and CEO Christopher Ruddy a $3.3 billion fortune. However, after the stock fell back down dramatically, Ruddy lost his billionaire status.<\/p>\n

Moreover, Omada Health Inc. saw significant gains after its IPO in June\u2014raising $150 million and its stock rose 21%. However, shares have since dropped below its initial price of $23.<\/p>\n

Fortune reached out to CoreWeave for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"Forget Apple, Amazon, or Microsoft\u2014this year\u2019s breakout tech stock comes from a company few had even heard of…\n","protected":false},"author":3,"featured_media":19505,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[244,18313,745,18314,9604,607,18315,18316,18317,242,18318,158,67,132,68,3642,258],"class_list":{"0":"post-19504","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-computing","8":"tag-billionaires","9":"tag-chief-executive-officer-ceo","10":"tag-computing","11":"tag-coreweave","12":"tag-entrepreneurs","13":"tag-entrepreneurship","14":"tag-founders","15":"tag-ipos","16":"tag-stock-movers","17":"tag-tech","18":"tag-tech-stocks","19":"tag-technology","20":"tag-united-states","21":"tag-unitedstates","22":"tag-us","23":"tag-wall-street","24":"tag-wealth"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114756283452139539","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/19504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=19504"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/19504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/19505"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=19504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=19504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=19504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}