An investment company co-founded by the chairman of Walmart Inc.’s board emerged as the biggest winner of StubHub Holdings Inc.’s initial public offering, ending the day with its 22% stake valued at almost $1.7 billion.
Madrone Capital Partners, a Menlo Park, California-based private equity firm founded by Greg Penner and two other executives, is the ticket platform’s biggest shareholder. Penner, 55, is married to Rob Walton’s daughter, Carrie. He’s also chief executive officer of the Denver Broncos, which he bought alongside Rob and Carrie in 2022 for $4.65 billion, a record amount for a National ...
