Who is Robinhood CEO Vladimir Tenev?
BILLIONAIRE Elon Musk has urged Robinhood co-founder Vladimir Tenev to "spill the beans, man" over the Reddit trading frenzy.
Robinhood has lined up $3.4billion amid a spike in trading on Wall Street fueled by small investors driving up shares in GameStop and other stocks.
His wife is Celina Tenev, who went to Stanford University for four years at the School of Medicine, as a postdoctoral fellow.
According to , her LinkedIn profile shows that she is the co-founder of a company providing on-demand emergency care, Call9.
Tenev has been quoted as saying of Celina that she makes him “better with each passing day”.
Tenev gained a mathematics degree at Stanford before continuing his education at UCLA, but dropped out of his PhD in mathematics to start a firm with Bhatt.
"There, they discovered that big Wall Street firms were paying next-to-nothing to trade stocks, while most Americans were charged commission for every single trade.
"So they decided to change that, and headed back to California to build a financial product that would enable everyone - not just the wealthy - access to financial markets."
They based the name on Robin Hood, the legendary, and heroic English outlaw archer and swordsman, who stole from the rich and gave to the poor.
However, Robinhood hit headlines in the wake of from purchasing GameStop stock.
in a month with the help of traders who posted tips on and .
Hedge funds betted heavily that GameStop’s shares would drop, and some investors lost millions of dollars as a result.
He asked Tenev to "spill the beans”.
Musk asked: "What happened last week? Why can't people buy the GameStop shares? People demand an answer and want to know the details and the truth."
Robinhood then announced on Monday, February 1, that it had lined up $3.4billion to help meet its funding requirements.
Tenev is now expected to on February 18, 2021, reported.
When did he launch Robinhood?
Robinhood is the US online broker that has emerged as a gateway for amateur traders challenging Wall Street hedge funds.
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Tenev and Bhatt founded Robinhood in 2013, with the company launching its app in 2014, to allow trading access to anyone with a phone.
Robinhood is based in Menlo Park, California.