It's been a while since we heard much from Keith Gill, better known as Roaring Kitty, who became a household name during the GameStop frenzy. However, his most recent puzzling post has sparked renewed discussion about the legendary investor who surpassed even Nancy Pelosi’s impressive and controversial wealth. Let’s rewind and see how Gill accomplished this amazing feat.
Back in late 2020, Gill was just a former financial analyst sharing his stock analysis on YouTube and Reddit. His big call was and still is GameStop (GME), a struggling video game retailer trading for about $5 per share at the time. Gill saw potential where few others did, presenting detailed analysis and arguments that GameStop was undervalued.
Don't Miss:
- 1 in 4 Americans own a share of Bitcoin according to NASDAQ — this platform touts returns as high as 12.5% APY and is giving $100 in welcome rewards if you sign up today.
- Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!
By January 2021, his conviction paid off as retail investors rallied around GameStop, sparking a historic short squeeze that sent the stock to $483 at its peak. While the frenzy cooled, GameStop is still holding strong today at $29.70 (at the time of writing), a far cry from the days when Wall Street laughed at it.
GameStop Stock Surges Again After Gill's Latest Post
Then, last week, on December 5th, GameStop's stock jumped 14% after Gill posted a mysterious image on X for the first time since September. The post was a fake TIME Magazine cover showing a computer and keyboard and it quickly went viral, getting over 3.1 million views in just a few hours (it stands at 10.5M now). Once again, Gill's post inspired retail investors to buy, creating excitement around meme stocks. By the end of the day, GameStop's stock was up 6%, showing how much Gill can still influence the market.
See Also: The #1 crypto trading app in America is hosting a ‘$50 in free bitcoin' offer to new sign ups (Seriously!) — Here's everything you need to know to take advantage of this offer.
How Much is Roaring Kitty Worth?
Gill's belief in GameStop didn't just make him famous—it made him incredibly wealthy. After exercising his call options, Gill still holds 9,001,000 shares of GameStop. At today's price of $29.70 per share, those shares are worth about $267 million. Add in his last reported $6 million in cash and Gill's net worth is approximately $273 million.
Surpassing Nancy Pelosi
Meanwhile, Nancy Pelosi, the former Speaker of the House, has long been known for her wealth, estimated to be between $230 million and $269 million. The latter figure comes from an alternative stock data platform, Quiver Quantitative. Her astute investments in tech firms like Apple and Nvidia and her substantial real estate holdings are largely responsible for this. Nevertheless, Gill’s GameStop-fueled income has surpassed Pelosi’s despite her impressive portfolio.
Trending: The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.
The Risks and Rewards of Roaring Kitty's Strategy
It's important to note that Gill's wealth is highly concentrated in one stock. While his success with GameStop is legendary, it's also a textbook example of a high-risk, high-reward strategy. If GameStop's price drops significantly, his money could disappear as fast as it grew. This shows how important it is to spread your investments around and know the risks before you invest.
Since the GameStop saga, Gill has largely stayed out of the public eye, apart from the occasional Reddit post or YouTube stream. His story was immortalized in the 2023 movie Dumb Money, but Gill remains an enigmatic figure. His cryptic posts continue to stir curiosity, but it's clear he's content letting his past moves speak for themselves.
Trending: It’s no wonder Jeff Bezos holds over $70 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.
Controversy Surrounding Pelosi’s Portfolio
Nancy Pelosi's investments have caused much debate. Many believe her big investments in tech stocks and her husband's business connections are unfair. They worry she uses insider information from her job as a top government leader to gain an advantage in the stock market. Because of this, many people are asking for stricter rules on how members of Congress can invest their money, saying public officials should follow higher ethical standards.
Read Next:
- Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – with $1,000 you can invest at just $0.26/share!
- If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
