Flying Taxi CEO Is Billionaire Again After Stock’s 160% Rally

Four years after a much-hyped SPAC deal followed by a swift collapse, shares of flying taxi company Joby Aviation Inc. have rallied to an all-time high, lifting the value of its founder’s stake to more than $1 billion.

Chief Executive Officer JoeBen Bevirt, 51, owns a 12% stake in the air-mobility company worth $1.3 billion, according to the Bloomberg Billionaires Index. The value of his holding has more than doubled since April 8, when the stock hit its low for the year. The shares were up 10% to $13.92 at 2:24 p.m. in New York trading.