Reported 1 day ago
Christopher Ruddy, founder and CEO of Newsmax, has amassed a fortune of approximately $3.3 billion following the company's public debut, where shares soared 735%. The conservative news network's IPO raised $75 million, with shares closing at $83.51. Ruddy maintains control over 81% of voting power through his class A shares, despite the company reporting a loss of $72 million last year on $171 million in revenue.
Source: YAHOO