ZoomInfo founders become billionaires after stock more than doubles in 3-day rally

• ZoomInfo's founders Henry Schuck and Kirk Brown became billionaires days after the company's shares began trading on the Nasdaq exchange, Bloomberg reported on Monday.
• The business-intelligence firm's shares began trading publicly on Thursday at $21 each. Investors flocked to the debut, pushing the stock price as high as $42 before it closed at $34.
• The stock continued to rally through Friday and Monday, ending Monday's session at $44.69.
• Schuck holds a 10% stake in ZoomInfo, while Brown owns 7.3% of the company.
• Watch ZoomInfo trade live here.

ZoomInfo's three-day stock surge turned its founders Henry Schuck and Kirk Brown into billionaires, Bloomberg reported on Monday.

The business-intelligence company's stock price doubled in its trading debut on Thursday; shares began trading at $21 and spiked as high as $42 before closing at $34. Friday saw the rally continue, and on Monday shares closed even higher, at $44.69.

The Nasdaq-hosted initial public offering raised more than $900 million for the company, signaling a strong bounce-back for the IPO market after issuances paused in the early days of the coronavirus pandemic.

The post-offering upturn created a major windfall for the two founders. Schuck holds a 10% stake in ZoomInfo, while Brown owns 7.3% of the firm, according to a prospectus.

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"We built some really solid relationships going into the roadshow," Schuck told Bloomberg TV, adding that the founders "felt good" about pitching ZoomInfo to investors with a virtual roadshow instead of a more traditional event.

The newly minted billionaires join a growing coalition of founders quickly growing richer through pandemic-era dealmaking. Len Blavatnik's net worth has soared by $9.1 billion since Warner Music Group, which he purchased in 2011, completed its IPO on Wednesday, according to Bloomberg. The label conglomerate's stock had leaped by 24% as of Monday's close.

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A similar jump for shares of the electric-truck maker Nikola pushed its founder Trevor Milton's net worth to $4.4 billion last week after the firm completed a reverse merger with VectoIQ, Bloomberg reported. Milton's fortune likely rose on Monday after Nikola shares rocketed 103%.

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