Webull Founder Wealth Tops $5 Billion as SPACs Return (Correct)

The founder of a brokerage known for its retail trader enthusiasts is benefiting from his company’s own meme stock moment.

Webull Corp. shares soared more than 500% in its first two days of trading, giving founder Anquan Wang a $5.2 billion fortune on paper, before paring some of those gains Tuesday morning. Wang’s co-founder, Jun Yuan, owns shares worth an additional $1.9 billion.

Webull logo on a laptop computer.

Photographer: Tiffany Hagler-Geard/Bloomberg

Wang, 45, founded the company in 2016 after previously working at Alibaba Group Holding Ltd. and Ant Group Co. It began as an app providing market information, but started offering brokerage services in the US ...