Robinhood
is going public and according to an SEC filing, the company CEO and co-founder
Vlad Tenev will see his fortune rise to over $2.5 billion when it does become a
reality. On top of that,  he could earn
another $4.7 billion in stock compensation.

The investment platform is seeking a market value of up to $35 billion in its
upcoming IPO. According to the company, its mission is  “democratizing finance for all”.

Also Read | In upcoming IPO, Robinhood looks to raise more than $2 billion

The
co-founders will each sell shares worth about $50 million in the IPO, SEC
filing by the company on Monday said. Though they will each own about 8% of the
company’s stock after the platform goes public, they will still own about
two-thirds of the voting shares.

Based on
the estimate of a value of $38 to $42 a share, the founders will have stock
worth between $2.5 billion and $2.8 billion each after the offering.

Also Read | Robinhood confidentially files for IPO: Reports

In May this
year, Robinhood’s board of directors approved an incentive plan that would
award Tenev up to 22.2 million restricted stock units over the next eight years
if the stock hits certain targets. Under the same plan, Raju Bhatt would
receive 13.2 million shares of the company.

If the
company stocks hit the targets set by the board – which are reported to be
starting at $120 and go on to rise to $300 – The stock that Tenev would get would be valued at about $4.7
billion and Bhatt’s shares would be worth about $2.8 billion.

Also Read | Wall Street posts slight gains, dollar dips as Fed maintains dovish stance

The SEC filing also talks about the wave of lawsuits that the company faced during the
Gamestop saga.

“We are cooperating
with these investigations and examinations,” and that, “Due to the very
preliminary nature of all of these proceedings, we are unable at this time to
estimate the likelihood or magnitude of any possible losses related to these
matters,” the company said in the filings, CNBC reported.