GoPro Inc (GPRO) founder Nick Woodman is now worth over $2 billion
GoPro Inc (NASDAQ:GPRO) founder Nick Woodman, 39, is now worth around $2 billion as the stock price of his company continues to grow. GoPro went public last week at a price of around $24 and now it is up almost 13% today at above $40 per share. It is GoPro’s third day of trading and it opened up another 8%.
The company went public last Thursday with a 30% jump. GoPro’s shares are now up over 60% from the opening. Woodman and his wife Jill sold around 3.6 million shares in the IPO, which net them a pretax amount of around $86 million.
Woodman still owns over 52 million Class B shares, which represents a voting stake of 48%. According to Forbes, Woodman now has a current total net worth at over $2.3 billion, up from over $1.2 billion at the IPO price.
Chinese consumer electronics manufacturer Foxconn owns just under 11 million shares of GoPro, which is now worth about $425 million. This is up from their original $200 million investment in 2012.
Woodman’s father Dean gave GoPro $200,000 in seed capital along with friends and family members. This investment is now worth around $280 million, which is a 140,000% return.