Daniel Dines, the wealthiest Romanian with a fortune of around 6 billion USD, is the co-founder and CEO of UiPath. The RPA company started in Bucharest, Romania, expanded globally. His intuition made him realize the enormous potential of the RPA market. After that, his determination helped him develop his company into what it is today.
Yet, the decision to take his company public might not have been the best he has taken so far. Even though this was a massive step for the company’s future, the share price dropped significantly compared to day one. This also made his fortune diminish from 7.6 billion USD to 6 billion USD now.
According to the financial reports cited by ZF, Daniel Dines sold 45,800 shares only in November, for a total price of 2.6 million USD. Christmas shopping? A new investment? It might be either or both. Anyway, the co-founder of a company needs money to live and pay for his lifestyle as well.
Usually, when the co-founder of a company sells his shares, their prices drop. Currently, the cost per PATH share is 53.9 USD, lower than the initial value of 56 USD. On the other hand, the company has a market capitalization of 27.7 billion USD, making the co-founder’s sale a tiny one.