Klarna made its highly anticipated New York Stock Exchange debut, sending its market cap soaring to nearly $17 billion and instantly creating a new wave of employee millionaires. Shares opened at $52 and closed at $45.82, well above the IPO price of $40, after the fintech company raised $1.37 billion in its initial public offering.
The stock surge propelled more than 40 current and former Klarna staffers into the millionaire club, with its executive team securing the largest gains. According to startup publication Sifted, at least 37 employees now hold shares worth more than $1 million.
Co-founders Sebastian Siemiatkowski and Victor Jacobsson gained the most from the listing. Jacobsson, who left Klarna in 2012 but still owns more than 31 million shares, saw his stake valued at over $1 billion. Siemiatkowski, the company’s CEO, holds 25.6 million shares worth around $920 million.
Other executives also reaped major windfalls. Chief product and design officer David Fock owns over 600,000 shares worth $21.6 million. Chief financial officer Niclas Neglén holds about 280,000 shares worth $10 million, while chief marketing officer David Sandström has 290,000 shares valued at $10.4 million.
This is not the first time Klarna has minted employee millionaires. In 2021, the Swedish fintech’s $45.6 billion valuation created at least 75 seven-figure staffers when it was briefly Europe’s most valuable startup.
Klarna’s latest stock market success highlights a growing trend: employees, not just founders and investors, are cashing in big when their companies go public.
