Coder in Tweed Cap Is New Canada Billionaire, Shopify Soars
- CEO Tobi Lutke rides stock’s rebound from short-selling slump
- Father-in-law and early backer McKean goes along for the ride
Tobias Lutke
Photographer: Richard Drew/APThis article is for subscribers only.
An unapologetic computer nerd with a penchant for tweed caps has become one of Canada’s newest billionaires by helping small merchants sell online.
Tobi Lutke, a 37-year-old German immigrant who built Shopify Inc. into one of tech’s hottest stocks, was worth $1.1 billion from company shares, options and sale proceeds at the close of trade on Friday, according to the Bloomberg Billionaires Index. He owns almost 9.7 million shares and options in Shopify, equal to about 11 percent of the business.