Vlad Tenev

Vlad Tenev co-founded Robinhood Markets with Baiju Bhatt in 2013 with a mission to democratize finance by making stock trading commission-free and accessible through a mobile-first interface. The app ignited a revolution in retail trading, forcing the entire brokerage industry (including Schwab, E*Trade, and TD Ameritrade) to eliminate trading commissions. Robinhood attracted over 23 million funded accounts, primarily among millennials and Gen Z investors. Robinhood's most traumatic episode came in January 2021 during the GameStop meme stock frenzy, when Tenev made the controversial decision to restrict trading in several volatile stocks due to collateral requirements — sparking outrage among users, congressional hearings, and a near-existential reputational crisis. The incident, while eventually cleared by regulators, temporarily defined Robinhood as a company that betrayed its own mission of democratizing finance. Tenev's response has been to expand Robinhood far beyond its original trading app: launching Robinhood Gold (a premium subscription with higher interest rates on cash and advanced tools), retirement accounts (IRAs with matching contributions), a credit card, 24-hour stock trading, and enhanced cryptocurrency trading. He also acquired UK-based Bitstamp to expand internationally. Key stock drivers include monthly active user trends, assets under custody growth, revenue per user, net deposits, transaction-based revenue from options and crypto, Gold subscription growth, and Robinhood's ability to become the primary financial platform for younger investors.