Courtesy of SmileDirectClub
Jordan Katzman and Alex Fenkell are now two of the youngest billionaires in the country.
- SmileDirectClub cofounders Jordan Katzman and Alex Fenkell, both 30, just became two of the youngest billionaires in the country.
- Shares of SmileDirectClub began trading on Nasdaq on September 12 after an $8.9 billion IPO, Business Insider previously reported.
- Katzman and Fenkell were expected to have net worths of $1.6 billion and $1.5 billion respectively after the IPO, according to Forbes.
- Katzman's father, SmileDirectClub CEO David Katzman, also became a billionaire and was on track to emerge with an estimated net worth of $2 billion, according to Forbes.
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Jordan Katzman and Alex Fenkell are now two of the youngest billionaires in the country.
Shares of the direct-to-consumer dental product they cofounded, SmileDirectClub, began trading on Nasdaq September 12. SmileDirectClub closed down 28% after its first day of trading, but its market cap of $6.4 billion made Katzman and Fenkell - who each own close to a quarter of the company's class B shares - billionaires.
SmileDirectClub sells invisible teeth aligners for $1,850, a fraction of the cost of traditional braces from an orthodontist, Business Insider previously reported.
A representative of SmileDirectClub did not immediately return Business Insider's request for comment on Katzman and Fenkell's personal relationship, current involvement in the business, and personal fortunes.
Keep reading to learn more about Jordan Katzman and Alex Fenkell.