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Newsmax, the American television network, has experienced an extraordinary surge in its stock market valuation, climbing over 2,200% since its initial public offering (IPO) in New York on Monday. The company’s shares, initially priced at $10 (£7.75) each, closed at $233 by the end of Tuesday’s trading session, giving the firm a staggering market value of nearly $30 billion.
With this valuation, Newsmax has overtaken some of the largest media corporations, including Fox Corp—the owner of rival network Fox News—as well as Warner Bros. Discovery and Paramount Global.
ROARING DEBUT: NEWSMAX’s debut on the New York Stock Exchange (NMAX) on Monday caught the attention of major media around the globe after its stock price rose over 700% in its first day of trading.
Read more here: https://t.co/LIiujIj5hD@NYSE @SchmittNYC @KatrinaSzish… pic.twitter.com/WTwUEDwJ3e— NEWSMAX (@NEWSMAX) April 1, 2025
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Christopher Ruddy Among America’s Wealthiest
The surge in share price has significantly boosted the net worth of Newsmax’s founder and chief executive, Christopher Ruddy. According to the Bloomberg Billionaires Index, Ruddy’s holdings in the company now place his net worth at over $9 billion, making him one of the richest individuals in the United States.
Ruddy, a seasoned journalist and media entrepreneur, launched Newsmax in 1998 as an online platform before expanding into cable news in 2014.
The stock surge has also significantly increased the wealth of Newsmax’s key investors. Interactive Brokers Group Inc. founder Thomas Peterffy holds the second-largest stake in the company, which is now valued at $5.4 billion.
“This incredibly successful offering, combined with our previous Preferred Offering, provides us with the capital and financial freedom to accelerate our growth initiatives, expand our programming, and further enhance our digital presence,” Ruddy said in a statement.
Financial Performance and Market Position of Newsmax
Newsmax’s impressive valuation comes despite the company’s reported revenue of $171 million last year. Bloomberg’s calculations indicate that the firm now trades at a price-to-sales ratio of approximately 175, far exceeding the peaks of meme stocks like GameStop Corp. and AMC Entertainment Holdings Inc., which reached ratios of four and 14, respectively.
The gains have positioned Newsmax above entertainment giants such as Warner Bros. Discovery and Paramount Global and have even placed its valuation ahead of cloud computing firm CoreWeave Inc., which recently raised $1.5 billion in an IPO.
Newsmax continues to expand its media footprint, joining other conservative-aligned companies that have gone public, such as Canada-based video platform Rumble Inc. and Trump Media & Technology Group.
Newsmax’s on-air lineup includes former Fox News personalities Greta Van Susteren and Rob Schmitt, strengthening its appeal among the viewers.
Christopher Ruddy’s Background and Influence
Beyond his role at Newsmax, Christopher Ruddy has built an extensive career in media and journalism. He previously worked at the New York Post and the Pittsburgh Tribune-Review before establishing Newsmax as a leading multimedia publishing company.
A Newsweek cover story recognized Ruddy as one of the top 20 most influential media figures in America. His academic credentials include a Bachelor of Arts degree, summa cum laude, in history from St. John’s University in New York and a Master’s in Public Policy from the London School of Economics. He has also served as a Media Fellow at the Hoover Institution on War, Revolution, and Peace at Stanford University and sits on the Board of Directors of the Financial Publishers Association.
Also Read: Christopher Ruddy’s Newsmax Stock Soars 2,200% After IPO, Surpassing Fox Corp In Market Value
