Goldman’s $2 Billion Innovator Deal Mints Rare ETF Billionaire

Goldman Sachs Group Inc.’s decision to buy Innovator Capital Management in a deal worth $2 billion is delivering a massive payday to the exchange-traded fund issuer’s founders.

Chief Executive Officer Bruce Bond, who co-founded the firm with John Southard in 2017, owns between 50% and 65% of Innovator, according to regulatory filings. Given that his stake is now worth at least $1 billion, the Goldman deal vaults Bond into the billionaire ranks. Southard, for his part, owns at least 25% of Innovator, filings show.