Klarna’s $17-B IPO Turns 40 Staffers Into Overnight Millionaires

Klarna made its New York Stock Exchange debut this week, sending its market cap soaring to $17 billion and propelling around 40 staffers into millionaire status overnight, with its executive team reaping the biggest gains, Emma Burleigh reported for Fortune.

Shares in the Swedish fintech shot up as much as 43% at one point. (Image: KLARNA)

It is not the first time Klarna’s success has minted ultrarich employees—at least 115 staffers have reached seven-figure net worths since 2021.

Employees at other tech firms such as Nvidia, Canva, and Palantir have also joined the exclusive wealth club by investing early.

Shares in the Swedish fintech shot up as much as 43% at one point, opening at $52 and closing at $45.82, well above the $40 IPO price. The offering raised $1.37 billion, and the stock surge pushed more than 40 current and former Klarna workers into the millionaires’ club through employee equity perks.