Real Estate

Rocket Mortgage founder Dan Gilbert made $30 billion on paper after stock’s surge

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Dan Gilbert, chairman, Quicken Loans

Anjali Sundaram | CNBC

Tuesday’s dramatic and abnormal spike in the stock of Rocket Companies created a major windfall for founder Dan Gilbert, at least on paper.

Shares of Rocket, where Gilbert is the majority shareholder, jumped more than 70% on Tuesday, adding $17.30 per share. According to InsiderScore.com and securities filings, Gilbert owns roughly 1.9 billion shares of Rocket, putting his paper gain on the stock at more than $32 billion.

The move pushed Gilbert into the top-20 of Bloomberg’s Billionaire Index, with roughly $64 billion.

However, some of those paper gains were quickly reversing on Wednesday. Shares of Rocket fell more than 7%. And…



Source cnbc.com

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