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Guzman y Gomez founder’s wealth jumps $60m in first seconds of trade

Aaron Weinman

A surge in Guzman y Gomez shares as it hit the ASX has delivered a $60 million bump to the fortune of the Mexican-themed restaurant’s founder, with Steven Marks and his family now sitting on a shareholding worth more than $225 million.

The former Wall Street hedge fund trader was not the only company insider to have their wealth skyrocket thanks to the successful IPO on Thursday. Guy Russo, the former chief executive of Kmart, Target and McDonald’s Australia, who is now Guzman y Gomez’s chairman, owns 5.6 per cent of the company, with his holding worth $170 million.

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Aaron Weinman was a correspondent at The Australian Financial Review.

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    Original URL: https://www.afr.com/companies/financial-services/guzman-y-gomez-founder-s-wealth-jumps-60m-in-first-seconds-of-trade-20240620-p5jng6