Shake Shack founder Danny Meyer can enjoy multiple pieces of good news today.
First, his original flagship burger joint in Madison Square Park reopened on Wednesday morning at 11am, more than seven months after it closed for renovations. Second, Shake Shack’s stock performance since its initial public offering in January has raised Meyer’s personal fortune to more than $600 million.
Shake Shack priced its IPO at $21 per share, but finished its first day of trading at $48.77, up 132%. After a stellar earnings report last week and a further 8% stock jump today, it’s now trading at over $82 per share. That rise has made Meyer, who owns more than 7 million shares of the company he founded as a food cart back in 2000, a very wealthy man.
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