Business 3 Snowflake founders are now officially billionaires after the Buffett-backed data storage company’s record-breaking IPO

• Snowflake CEO Frank Slootman, outmoded CEO Bob Muglia, and cofounder Benoit Dageville are with out a doubt billionaires after the info storage company’s blockbuster IPO, Forbes reported.
• The eight-365 days-feeble data storage company shot up as powerful as 165% in mid-day buying and selling in what is so a long way the ultimate IPO of 2020, and the ultimate diagram IPO of all time.
• Even earlier than his legitimate induction into the three-comma club, Slootman changed into once already paid more than the CEOs of Oracle, Microsoft, and Salesforce as a result of the startup’s advanced govt compensation draw.
• Slootman now has a salvage price of $1.8 billion, Forbes estimates, however told the journal that his recent living “manner dinky or no.”
• Regardless of leaving Snowflake in 2018, the IPO spiked Muglia’s salvage price to $1.4 billion. Dageville is price $2 billion.
• Many other Snowflake workers and traders at the side of Warren Buffett, Sequoia, Iconiq Capital, and Salesforce are living for windfalls as neatly, per Forbes.
• A advisor for Snowflake declined to comment for this text.
• Consult with Enterprise Insider’s homepage for more tales.