The brother of Roblox’s CEO is another big winner from its public listing. He’s already sold $101 million in stock.

girl plays roblox

Summary List Placement

Roblox’s debut on the public markets last week has brought quick returns for some of the company’s biggest shareholders — including the CEO’s brother.

Shares of Roblox — a platform that lets users create their own video games and is immensely popular with kids — soared after the company went public through a direct listing Wednesday.

The company’s stock has climbed even further since then to notch a total gain of more than 70% in just under a week and Roblox’s market cap has grown to more than $40 billion.

That’s led to some big returns for the company’s biggest shareholders. CEO David Baszucki, for instance, holds a stake worth nearly $5 billion.

greg baszuckiFor Gregory Baszucki, who is David’s brother and a member of Roblox’s board, those gains aren’t just on paper. According to a SEC filing, he cashed out on $101.1 million in shares on Wednesday after the company’s market debut.

Even with that sale, he still holds well over $1 billion worth of Roblox stock and options, based on Tuesday’s closing price for the company’s shares.

Gregory Baszucki has served on Roblox’s board since 2008. He’s also a CEO in his own right: His company, Wheelhouse Enterprises, is a marketplace for buyers and sellers of business software. He also co-founded FounderPartners, which creates and invests in mobile, internet and software companies.

Other Roblox shareholders also cashed out after the company went public. Brother and CEO David Baszucki, for instance, sold roughly $83.9 million in Roblox stock and donated more shares to charity, a donor advised fund.

Michael Guthrie, Roblox’s chief financial officer, Craig Donato, the company’s chief business officer, and Christopher Carvalho, a director of the company’s board, also sold millions of dollars of shares apiece.

Join the conversation about this story »

NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America

Related posts