Dan Gilbert’s Wealth Soars to $34 Billion After Rocket IPO

Mortgage company shares jump 19% on first day of trading
Listing propels founder Gilbert up Bloomberg wealth rankings

Rocket CEO Says Post-IPO Market Cap Confirms Tech Status

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By Tom Metcalf, Donald Moore, and Tom Maloney

August 6, 2020 at 1:17 PM UTC

Updated on

August 6, 2020 at 8:51 PM UTC

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Rocket Cos. long-awaited initial public offering finally reveals the vast fortune founder Dan Gilbert has built in a city battered by the last financial crisis.

Shares of the Detroit-based mortgage company rose more than 19% on the first day of trading in New York, pushing Gilbert’s net worth to about $34 billion, according to the Bloomberg Billionaires Index.