Despite the SPAC boom, far more entrepreneurs became billionaires this year through a good old-fashioned traditional IPO.
, who had planned much anticipated IPOs in 2020, sought shelter from the storm instead.
Things couldn’t be more different this year. After a strong rebound in the second half of 2020 that has continued into 2021, public markets are again booming—and plenty of entrepreneurs are getting in on the action. Among the record 493 new billionaires on this year’s list—including 10 who rode the trendy SPAC wave to riches—Over the past year, 1,489 public offerings raised $314 billion globally, up from 1,239 IPOs and $234 billion in the previous year.
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