2 days ago
Former Penny Stock's 54,000% Rise Makes Two Australians Billionaires
In 2009, as the global financial crisis rumbled, a little-known Australian health-tech firm snapped up a struggling imaging company for $3.5 million. Today, that bet has turned Pro Medicus Ltd. into a A$29 billion ($19 billion) firm — its shares soaring 54,000% over the past 15 years to outpace even artificial intelligence giant Nvidia Corp.
The rally in the Melbourne-headquartered provider of cloud-based cancer diagnostic software has also vaulted its founders — Sam Hupert and Anthony Hall — into the ranks of the world's richest. Each is now worth about $4.7 billion, according to the Bloomberg Billionaires Index, which is valuing them for the first time.
