Billionaires
Newsmax Founder Christopher Ruddy, Ex-NY Post Journalist, Is Now Billionaire
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Newsmax Inc.’s debut as a public company has given founder and Chief Executive Officer Christopher Ruddy a fortune of about $3.3 billion after its shares surged 735%.
The conservative cable news network sold $75 million of shares at $10 each in Monday’s initial public offering. The stock closed at $83.51 after repeated trading pauses due to volatility.