After another cryptic post, let’s remember how Roaring Kitty managed to surpass even Nancy Pelosi’s vast wealth
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 enigmatic post has sparked renewed debate 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.
At the end of 2020, Gill was just a former financial analyst who shared his stock analysis on YouTube and Reddit. His big call was and still is GameStop (GME), a struggling video game retailer that was trading at around $5 per share at the time. Gill saw potential where few others did, presenting detailed analysis and arguments that GameStop was undervalued.
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In January 2021, his conviction paid off when retail investors rallied behind GameStop, leading to 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 was laughing about it.
GameStop shares are rising again after Gill’s latest post
Last week, on December 5, GameStop’s stock rose 14% after Gill posted a mysterious image on X for the first time since September. The post was a fake cover of TIME Magazine, showing a computer and keyboard, and it quickly went viral, racking up over 3.1 million views in just a few hours (it now stands at 10, 5 million). Once again, Gill’s post inspired retail investors to buy, creating excitement around meme stocks. By the end of the day, GameStop shares were up 6%, showing how much Gill can still influence the market.
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Gill’s belief in GameStop not only made him famous, it also made him incredibly wealthy. After exercising his call options, Gill still owns 9,001,000 shares of GameStop. At the current 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.
Meanwhile, Nancy Pelosi, the former Speaker of the House of Representatives, has long been known for her wealth, estimated at between $230 million and $269 million. This latest figure comes from an alternative stock data platform, Quiver Quantitative. Her smart investments in technology companies such as Apple and Nvidia and her significant real estate holdings are largely responsible for this. Nevertheless, Gill’s GameStop-fueled income has surpassed Pelosi’s, despite her impressive portfolio.
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It is important to note that Gill’s wealth is highly concentrated in one stock. While his success with GameStop is legendary, it is also a textbook example of a high-risk, high-reward strategy. If GameStop’s price drops significantly, its money could disappear as quickly as it grows. This shows how important it is to diversify your investments and know the risks before investing.
Since the GameStop saga, Gill has largely remained out of the public eye, aside from the occasional Reddit post or YouTube stream. His story was immortalized in the 2023 film Dumb Money, but Gill remains an enigmatic figure. His cryptic messages continue to arouse curiosity, but it’s clear he’s content to let his past moves speak for themselves.
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Nancy Pelosi’s investments have sparked much debate. Many believe that her large investments in technology stocks and her husband’s business connections are dishonest. They fear she is using inside information from her job as a top government leader to gain an advantage in the stock market. That’s why many people are calling for stricter rules on how members of Congress can invest their money, saying government officials should follow higher ethical standards.
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This article, after another cryptic post Let’s Not Forget How Roaring Kitty Managed to Surpass Even Nancy Pelosi’s Vast Wealth, originally appeared on Benzinga.com
