Switch IPO Cements a $2.2 Billion Fortune for California Tycoon
- Dennis Troesh has a $600 million stake in data center Switch
- Billionaire’s cement company was valued at $2 billion in 2012
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Data center operator Switch Inc.’s surge in its trading debut reveals a hidden billionaire in California.
Investor Dennis Troesh controls 14.7 percent of Switch, which on Friday staged this year’s third-biggest technology IPO in the U.S., climbing as much as 46.5 percent. The Bloomberg Billionaires Index values his net worth at $2.2 billion, based on the stock’s $22 trading price as of 12:04 p.m. in New York.