Charles Schwab offices in Baltimore, MD. Photo: Diego M. Radzinschi/ALM
Charles Schwab Corp. wants to give its retail investors more opportunities to take stakes in private companies as a growing number of firms become industry giants before going public, Chief Executive Officer Rick Wurster said.
“There’s a lot more private companies today than there used to be, and fewer public companies, and so I do think it makes sense to think about providing direct access to retail investors to private companies, and that’s something we’re looking at and thinking about how we participate in,” Wurster said in a Bloomberg Television interview Wednesday.
Wurster cited financial-technology company Stripe Inc. and artificial-intelligence firm OpenAI as “billion-dollar companies” that retail investors should have the opportunity to invest in. Employees of such enterprises “would love liquidity for their stock positions” as well, he said.
“We would love to see retail investors be able to participate in the growth of private companies in our country,” Wurster said.
Photo: Diego M. Radzinschi/ALM
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