Roblox Corp.’s users can create virtual worlds to fend off zombies or scuba dive for hidden treasure, with makers of the most popular games earning enough to become millionaires. Roblox co-founder David Baszucki known on the site as “builder man” has made the most from the online gaming platform. His stake in the company is now worth about $3 billion based on pricing for its direct listing Wednesday, according to data compiled by Bloomberg.
“Our vision of the future is really connecting the world on the Roblox platform, and allowing you to connect with people,” Baszucki, 58, said at the annual Roblox Developers Conference in July. A Stanford University graduate with a degree in electrical engineering, Baszucki founded Roblox in 2004 with Erik Cassel after the pair developed educational software for teaching physics. Cassel died in 2013.
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Baszucki participated in shares sales to third parties before Roblox’s listing that was potentially worth hundreds of millions of dollars. Last year, he registered the Baszucki Family Office in California, which is managed by a trust that holds about half of his 12% stake in Roblox. Baszucki will receive an additional 11.5 million shares of Roblox if the company meets certain long-term price targets, according to a filing. He won’t take any other cash or equity compensation for as long as seven years after the listing, and plans on using any net proceeds for philanthropy, a spokesperson for the firm said.