What's Hot

    Whitecap Resources Exceeds Production Guidance for 2024

    October 26, 2024

    Prospective Future Performance of CNQ Stock: A 5-Year Projection

    October 26, 2024

    Flying Nickel Receives Final Order for Arrangement with Norway House

    October 25, 2024
    Facebook X (Twitter) Instagram
    X (Twitter) RSS
    Micro CapsMicro Caps
    • Featured
    • Sectors
      • Bio Tech & Pharma
      • Economy
      • Industrials & Juniors
      • Mining & Resources
      • Oil, Gas & Energy
      • Technology
      • Cannabis
      • Market
    • Markets
      • Stocks
        • TSX
        • TSXV
        • CSE
    • About Us
      • Contact Us
      • Disclaimer
    Featured
    Micro CapsMicro Caps
    Home»Technology»Nubank CEO Sells $404 Million of Shares Amid Record-breaking Stock Performance
    Technology

    Nubank CEO Sells $404 Million of Shares Amid Record-breaking Stock Performance

    Alexander LeeBy Alexander LeeAugust 16, 2024No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    David Velez, the billionaire co-founder and CEO of a prominent financial institution, recently completed his second stock sale since the company’s initial public offering in 2021. Velez sold 31 million shares, representing approximately 3% of his total stake, through his trust Rua California Ltd. This transaction generated $404 million and was conducted for estate planning purposes, as stated in a filing.

    The financial institution, known for its digital banking services and multiple subsidiaries in Latin America, experienced a notable increase in stock value following its second-quarter profit report, which showcased a significant year-over-year growth. The company’s shares rose over 5% on Wednesday and an additional 3% on Thursday, reaching a new all-time high. Year-to-date, the stock has climbed more than 65%.

    Founded in 2013, the financial institution has become the most valuable publicly-traded financial entity in Latin America, with a market capitalization of nearly $66 billion. Serving nearly 105 million customers, including a substantial portion of the adult population in Brazil, the company has solidified its position as one of the largest digital banks globally.

    In a previous stock sale in August 2023, Velez sold 25 million shares for $191 million, indicating a commitment to funding philanthropic efforts with his wife through their foundation. With a current stake of approximately 20% in the company, Velez’s net worth is estimated at $13.1 billion, according to the Bloomberg Billionaires Index.

    The financial institution’s shares reaching a record high further emphasizes its successful financial performance and market position.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Alexander Lee
    • Website

    Alexander is the founder and author of Microcaps.ca, a leading resource for investors interested in the micro-cap stock market. With a passion for uncovering hidden gems in the world of small-cap stocks, Alexander combines in-depth research with years of experience in the financial markets to provide readers with valuable insights and timely analysis. Investors should conduct their own research or consult with a qualified investment advisor before making any investment decisions. The author of this article is not responsible for any gains or losses incurred from investing in companies mentioned.

    Related Posts

    Bitcoin Well successfully integrates Lightning Network with the Bitcoin Portal in Canada.

    September 5, 2024

    P2P Group Announces Appointment of New CEO to Lead Expansion into Healthcare and Technology Industries

    August 22, 2024

    Blockmate Ventures Issues Progress Report on Current Initiatives

    August 20, 2024

    Leave A Reply Cancel Reply

    Top Posts

    The Global Uranium Boom: How Canada’s Junior Miners Are Positioned to Benefit from the Nuclear Energy Renaissance

    August 28, 202411

    Exploring Opportunities in the Canadian Junior Mining Sector: Key Companies to Watch

    August 19, 202411

    Latin Metals Inc.: Unlocking the Mineral Wealth of Latin America

    August 20, 20249

    GlycoProteMim Highlighted in Stonegate Healthcare’s Most Recent Study on Anti-Aging

    August 19, 20246
    Don't Miss
    Oil, Gas & Energy

    Whitecap Resources Exceeds Production Guidance for 2024

    By Alexander LeeOctober 26, 20240

    Whitecap Resources (TSX:WCP) has released its operating and unaudited financial results for the third quarter…

    Prospective Future Performance of CNQ Stock: A 5-Year Projection

    October 26, 2024

    Flying Nickel Receives Final Order for Arrangement with Norway House

    October 25, 2024

    Graphite One Secures Exclusive Access to Industry-Leading Anode Manufacturing Technology Through Agreements.

    October 25, 2024
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    About Us
    About Us

    Microcaps.ca delivers timely and insightful Canadian stock market news, focusing on microcap trends, updates, and expert analysis.

    Email: info@microcaps.ca
    Contact: +1 coming soon

    Facebook X (Twitter) Pinterest YouTube WhatsApp
    Our Picks

    Whitecap Resources Exceeds Production Guidance for 2024

    October 26, 2024

    Prospective Future Performance of CNQ Stock: A 5-Year Projection

    October 26, 2024

    Flying Nickel Receives Final Order for Arrangement with Norway House

    October 25, 2024
    Most Popular

    The Global Uranium Boom: How Canada’s Junior Miners Are Positioned to Benefit from the Nuclear Energy Renaissance

    August 28, 202411

    Exploring Opportunities in the Canadian Junior Mining Sector: Key Companies to Watch

    August 19, 202411

    Latin Metals Inc.: Unlocking the Mineral Wealth of Latin America

    August 20, 20249

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version