How this AI company's CEO has joined the World's Richest after stock surges 300%
CoreWeave Inc.
, an
AI cloud-computing
provider, has seen its stock skyrocket nearly 300% since its March IPO, propelling CEO
Michael Intrator
into the ranks of the world's 500 wealthiest individuals.
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According to the
Bloomberg Billionaires Index
, Intrator's net worth has surged to $10.3 billion, ranking him 311th globally, ahead of figures like New England Patriots owner Robert Kraft and Blackstone Inc. President Jon Gray.
The rapid rise has made CoreWeave one of the top 30 performers on the Nasdaq Composite Index since going public, reflecting a broader hot streak for IPOs in 2025. Newly public companies are posting their strongest debut gains since 2021, creating
new billionaires
like Circle Internet Group's Jeremy Allaire and Webull Corp.'
s Anquan Wang and Jun Yuan. Intrator's wealth jump, however, is remarkable for its speed, climbing from $5 billion to $10 billion in just 12 days -- compared to the average of over three years for others on Bloomberg's wealth index.
CoreWeave's rally has also enriched its co-founders and early investors. Chief Strategy Officer Brian Venturo's fortune now stands at $6.4 billion, while Chief Development Officer Brannin McBee's wealth is valued at $4.7 billion.
Early backers include billionaire Leslie Wexner, whose trust holds a $2.9 billion stake from a 2019 seed round, and board member Jack Cogen, with shares worth $3.4 billion. Cogen, a former colleague of Intrator and Venturo from Natsource Asset Management, also served as a director at Intrator's prior venture, Hudson Ridge Asset Management. The surge underscores CoreWeave's growing prominence in the AI sector and the explosive investor enthusiasm for
tech-driven IPOs
this year.
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