Ribbit Capital Founder Acquires Additional Hundreds of Millions in Robinhood Stock

Meyer Malka, the founder of Ribbit Capital and an independent director at Robinhood Markets, Inc. (NASDAQ: HOOD), acquired shares in three tranches on the open market—approximately 249,000 shares on May 28, 181,000 shares on June 3 and 250,000 shares on June 5—adding roughly US$55 million (KRW 75 billion) of stock to Ribbit-affiliated funds. The same filing reported that about 800 previously granted restricted stock units (RSUs) vested and converted into shares on June 1, and some 3,300 new annual director RSUs were awarded on June 2 as part of routine compensation. After these transactions, Malka-related funds, trusts and LLCs held in excess of 7.7 million Class A common shares on an indirect basis, although Malka disclaimed any beneficial ownership beyond his economic interest.

Despite record trading volumes, Robinhood recently announced it will cut roughly 10% of its workforce and record related charges of about US$280 million (KRW 380 billion) in the second quarter. At the same time, the company is raising capital via a private placement of US$2 billion (KRW 2.7 trillion) of interest-free convertible notes maturing in 2029.

Robinhood is a U.S. online brokerage that quickly grew its retail-investor base by offering commission-free stock and options trading. It has since expanded into prediction markets, futures and event contracts, cryptocurrencies, its own blockchain and tokenized assets. In 2025, the firm achieved record net income, revenue and trading volumes, and in 2026, monthly metrics for its stock, options and prediction-market businesses are again reaching all-time highs.