Robinhood is controlled by its two co-founders through high-vote Class B shares: Baiju Bhatt holds 32.0% and CEO Vlad Tenev 26.1% of the voting power, per Robinhood’s 2026 proxy statement. BlackRock is the largest outside holder with 7.0% of the Class A stock.
Update (11 Oct 2026): the ownership figures at the top of this page now come from Robinhood’s 2026 proxy statement. The original article below is kept as it was; where its older figures differ, the dated filing figures above apply.
How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q, prospectus and earnings releases, or its annual report), with the period stated next to each number; outside estimates appear only labelled, with their source and date. Last refreshed October 2026. Our methodology.
Robinhood’s 2026 proxy statement shows the founders holding all of the Class B stock: Baiju Bhatt 61,076,048 shares (55.7% of the class, 32.0% of total votes) and Vladimir Tenev 49,234,651 (44.9%, 26.1%). Directors and executive officers as a group hold 58.6% of the vote. BlackRock owns 55,763,578 Class A shares (7.0%) but only about 3% of the votes.
The Business Engineer view
Two founders with a combined majority of the votes is what lets Robinhood keep expanding from stock trading into crypto, banking and prediction markets despite regulatory risk. Public shareholders get the upside but not the steering wheel.
The company is primarily owned by its co-founders, Baiju Bhatt and Vladimir Tenev, who own most Class B shares, conferring a combined voting power of over 60%. Other institutional investors comprise Index Ventures, with 9.9% of Class A shares, followed by DST Global, with 7.5% of Class A shares; followed by Fidelity Technologies, with 7.1%; Ribbit Capital, with 7.1%; and The Vanguard Group, with 6.9%.
Detail
Description
Company
Robinhood Markets, Inc.
Ownership Structure
Publicly traded company with major shareholders
Major Shareholders
Institutional investors like ARK Investment Management, Vanguard Group, BlackRock, other institutional investors, and individual shareholders
Founding Date
April 2013
Founders
Vladimir Tenev and Baiju Bhatt
Headquarters
Menlo Park, California, USA
Primary Business
Providing a commission-free trading platform for stocks, ETFs, options, and cryptocurrencies
Strategic Goals
Expanding financial services offerings, enhancing platform security and user experience, growing international presence, and democratizing finance
Additional Ownership Details
Corporate Structure and Ownership: Robinhood Markets, Inc. is publicly traded on the NASDAQ under the ticker symbol HOOD. The company went public in July 2021 through an initial public offering (IPO). Major institutional investors, such as ARK Investment Management, Vanguard Group, and BlackRock, hold significant stakes in Robinhood, providing financial backing and strategic input.
Corporate Strategy and Business Model: Robinhoodโs business model revolves around offering commission-free trading, making investing accessible to a broader audience. The company generates revenue through payment for order flow, premium subscriptions (Robinhood Gold), and other financial services. Robinhood aims to democratize finance by providing tools that empower users to manage their investments easily.
Product Innovation and User Engagement: Robinhood invests in productinnovation by introducing features like fractional shares, cashmanagement accounts, and cryptocurrency trading. The platform focuses on enhancing user experience through a user-friendly interface, educational content, and real-time market data, making investing more accessible to novice investors.
Market Expansion and Growth: Robinhood is actively working to expand its market presence by exploring international opportunities and broadening its range of financial products. The company aims to attract a global user base by offering localized services and adhering to regulatory standards in new markets.
Community and User-Centric Approach: Robinhood places a strong emphasis on user education and financial literacy, offering resources to help users make informed investment decisions. The platform also prioritizes community engagement through social media and direct interaction with users, fostering a sense of empowerment and transparency.
2023 Robinhood generated $785 million in transaction revenue, compared to $814 million in 2022 and $1.4 billion in 2021. In 2023, most of the total transaction revenue came from options trading, which generated over $500 million in transaction revenue for the company.
Robinhood is not profitable, as it reported a net loss of $541 million in 2023, compared to over a billion dollars in net losses in 2022 and nearly $3.7 billion in net losses in 2021.
Robinhood is defined as a Funded Customer, a unique person who has at least one account with a Robinhood within the past 45 calendar days with some net balance on it. For instance, in 2023, the company reported 23.4 million funded customers compared to 23 million in 2022 and 22.7 million in 2021.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
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