Meet the 30-year-old cofounders of SmileDirectClub, Jordan Katzman and Alex Fenkell, who just became 2 of the youngest billionaires in the US
Courtesy of SmileDirectClub
- SmileDirectClub cofounders Jordan Katzman and Alex Fenkell, both 30, just became two of the youngest billionaires in the country.
- Shares of SmileDirectClub began trading on Nasdaq on September 12 after an $8.9 billion IPO, Business Insider previously reported.
- Katzman and Fenkell were expected to have net worths of $1.6 billion and $1.5 billion respectively after the IPO, according to Forbes.
- Katzman's father, SmileDirectClub CEO David Katzman, also became a billionaire and was on track to emerge with an estimated net worth of $2 billion, according to Forbes.
- Visit Business Insider's homepage for more stories.
Jordan Katzman and Alex Fenkell are now two of the youngest billionaires in the country.
Shares of the direct-to-consumer dental product they cofounded, SmileDirectClub, began trading on Nasdaq September 12. SmileDirectClub closed down 28% after its first day of trading, but its market cap of $6.4 billion made Katzman and Fenkell - who each own close to a quarter of the company's class B shares - billionaires.
SmileDirectClub sells invisible teeth aligners for $1,850, a fraction of the cost of traditional braces from an orthodontist, Business Insider previously reported.
A representative of SmileDirectClub did not immediately return Business Insider's request for comment on Katzman and Fenkell's personal relationship, current involvement in the business, and personal fortunes.
Keep reading to learn more about Jordan Katzman and Alex Fenkell.
Jordan Katzman and Alex Fenkell both grew up in Detroit, Michigan.
The pair met at summer camp when they were 13.
Katzman and Fenkell grew up to become serial entrepreneurs.
Katzman and Fenkell founded SmileDirectClub just five years ago, in 2014.
David Katzman, Jordan's father, became the new company's CEO.
Katzman and Fenkell found their own niches within the company.
Fenkell has repeatedly defended SmileDirectClub during the company's squabbles with competitors.
Fenkell doesn't spend time worrying about worst-case scenarios.
Both 30 years old, the cofounders could become two of the youngest billionaires in the United States after the company's September 12 IPO.
- DC vs RR: Who will win today’s IPL match?
- We asked three spacetech entrepreneurs what it takes to enter the field and they listed out the opportunities
- Ethereum’s scaling issues strike again as TIME Magazine’s NFTs sell for 30 times their price
- Best baby swing cradle and chair in India
- China's FUD drags down Bitcoin, Ether and other cryptocurrencies yet again