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Yahoo
2 days ago
- Business
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Robinhood CEO Vlad Tenev Builds Apocalypse Squad — 150 Top Performers Picked To Rebuild Company If Disaster Strikes
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev has established an exclusive founders club comprising the company's 150 best-performing employees across all levels, designed to serve as a strategic rebuild team in catastrophic scenarios. Elite Performance Community Speaking on the 'Cheeky Pint' podcast published on Wednesday, Tenev revealed the secretive group's purpose. 'If there was a disaster or some kind of apocalyptic scenario, and we had to rebuild Robinhood with 150 people, you would be in that group,' he told inductees. The community initially focused on compensation for top performers but evolved into an 'actual community' that provides strategic input. Tenev conducts regular strategy sessions, city-based events, and dinners with members. Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Cross-Level Impact Focus Unlike traditional executive circles, the founders club spans organizational levels. 'I didn't want the group to become 150 people at the top of the org chart,' Tenev said, emphasizing inclusion of high-impact contributors regardless of position. The trading platform, which went public in 2021, employs 2,300 full-time staff as of December. Tenev confirmed the company 'very much' concentrates promotions within top performers and rewards exceptional employees well. Strong Platform Metrics Drive Growth Recent July metrics underscore Robinhood's momentum. Total platform assets reached $298 billion, up 106% year-over-year. Funded customers hit 26.7 million, adding 160,000 from June. Crypto trading volumes surged 217% annually to $16.8 billion, while equity volumes doubled year-over-year to $209.1 billion. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Ink Drop / Shutterstock This article Robinhood CEO Vlad Tenev Builds Apocalypse Squad — 150 Top Performers Picked To Rebuild Company If Disaster Strikes originally appeared on
Yahoo
4 days ago
- Business
- Yahoo
Robinhood's CEO says he has a group of 150 top employees he'd rebuild the company with if something 'apocalyptic' happened
Robinhood's CEO said he has created a founders club for the top 150 performers at the company. The club, initially compensation-focused, now focuses on community and sharing feedback. "We have events in each city, and we get them together for dinners," Tenev said about the club. The criteria to get into Robinhood's founders club: Be among the 150 best-performing people at the company. In an episode of the "Cheeky Pint" podcast published on Wednesday, Robinhood's CEO Vlad Tenev said he has created a community of the best people across the company to ensure he is not just interacting with direct reports. "When I induct people into this community, I usually give a spiel," he said. "If there was a disaster or some kind of apocalyptic scenario, and we had to rebuild Robinhood with 150 people, you would be in that group." Tenev, who cofounded the company in 2013, said the founder community was initially compensation-focused and a way of awarding budgets to the best performers. But it has since become an "actual community" at the stock trading company. "I go through the updated strategy or vision, we get those folks together, we get their feedback," he said. "We do events. We have events in each city, and we get them together for dinners." Robinhood went public in 2021 and is now worth about $98.4 billion. It had 2,300 full-time employees as of December 2024. Tenev said he didn't want the group to become 150 people "at the top of the org chart," and includes people who have the most impact at every level of the company. The CEO added that the company "very much" concentrates promotions within top performers and rewards the "best people in the company" very well. Robinhood declined further comment to Business Insider. Tenev isn't the first to launch a secretive, invite-only company club. In 2011, Fortune reported that Apple had an exclusive club for top performers called the Top 100. It was described as an invitation-only, off-site meeting held for the 100 most influential people at Apple, regardless of their official position or tenure. Employees participated in a three-day strategy session focused on top-secret projects and how upcoming products will be unveiled. Apple did not respond to a comment asking if these off-sites or similar events for top employees still take place at the company. Read the original article on Business Insider
