Cartoon by Pat Byrnes
By that spring, Alex Kearns, a twenty-year-old student at the University of Nebraska, had been using Robinhood for about two years. The app had permitted him to trade options just months after he opened his account. Kearns grew up in Naperville, Illinois, with his sister and his parents. His father is an I.T. professional at a financial-services firm. The family was close. Kearns was known as an anxious but positive young man who played trombone in the high-school band, received a school-spirit award, and joined the R.O.T.C. at Nebraska, where he majored in business management. Kearnsâs cousin-in-law Bill Brewster, a professional investor, told me that heâd spoken with Kearns that March. âHe was happier than Iâve ever seen him,â Brewster said.
29 January 2021, 12:37 am EST By
The Robinhood app, a commission-free trading platform has changed the world by challenging the notion of traditional investment and financial education. Now, the app is a billion dollar business, with more than 13 million users. It has also recently been the spotlight of dialogue following numerous price spikes in different company stocks.
(Photo : Screenshot: Youtube Video by CNBC)
Who Owns Robinhood?
Born in Bulgaria, Robinhood co-founder and CEO Vlad Tenev was raised in a community where there are only two options for saving: putting it in a state bank or leaving it under the mattress. Financial education on the other hand was a privilege that requires tons of resources to get your hands on the books.