Levchin Maksimilian Rafaelyevich

Levchin Maksimilian Rafaelyevich

Biography

2021: Maxim Levchin is a new billionaire

In the middle of January, 2021 it became known that the sharp growth of share value financial that- the company Affirm led to emergence in the world of the new billionaire. Thanks to doubling of share value the status of one of founders PayPal and the CEO of Affirm, the native of Kiev Max Levchin, grew to $2.7 billion.

The Affirm financial technical-company which is based in San Francisco went public on January 12 with the price $49 for an action, and expected assessment of the company made $12 billion. By the end of biddings on January 13 the share value of Affirm grew to $97.24 (for 98.45%), and capitalization — to $23.6 billion.

As the private company, Affirm last time attracted money in September, 2020 approximately on one fifth from current value. In four months the company increased the market capitalization by $18 billion Forbes notes that as a result of such jump of quotations the status of one of founders of the company, the native of Kiev Max Levchin who possesses 11% of stocks of Affirm grew to $2.7 billion.

The new billionaire – the native of Kiev who in 1991 was granted a political asylum in the USA together with the family. Then Levchin was 16 years old. Before becoming the cofounder of PayPal, Levchin started three startups which did not make profit, but when eBay purchased PayPal payment system for $1.5 billion, he received about $34 million as a result of absorption.

Now Levchin is the CEO of service of payment by installments for online purchases of Affirm founded in 2012. The company allows clients to buy anything, from shirts to car tires provided that they will make afterwards regular payments. Affirm levies percent approximately from a half of the transactions, and the majority of income is brought by payments of sellers. The startup cooperates approximately with 6500 sellers and brands among which there are Adidas, Walmart and Dyson.^[1]

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