There’s a healthy amount of interest in how much Keith Gill made from his GameStop (NYSE:GME) bets during the previous meme stock cycle. Shares of GME stock are up another 12% today and, despite a very bumpy ride, are generally heading higher. This move comes as investors price in an increasingly high probability of a short squeeze in the popular meme stock.
After posting his latest “YOLO” (you only live once) bet on Reddit Monday, Keith Gill (aka “Roaring Kitty”) amassed a one-day trading gain of around $79 million. In fact, shares of GME stock doubled in pre-market trading on news that the meme trader with the crystal ball is back at it again.
His previous 5 million share position in GameStop appears to remain intact, though it’s unclear whether Gill bought or sold stock around the previous bubble. He took a hiatus from social media for roughly three years following regulatory scrutiny over his trading practices and those of others.
Let’s dive into how much Keith Gill may now be worth, and if billionaire status could be in the cards moving forward.
How Much Did Keith Gill Make From GME Stock?
According to recent reports, Keith Gill’s personal net worth surged from around $53,000 prior to the meme stock rally to around $289 million as of this week. His options bet, which expires June 21, could push Gill into billionaire territory if GameStop surges above a certain threshold.
It is incredible that a man with all the previous markings of what appears to be a middle-class life is now within spitting distance of billionaire territory. While movies have already been made about Gill and his exploits during the previous meme stock bubble, it appears there could be another leg higher and a new chapter to be written about this story.
Unlike most investors, who may see some intraday volatility in their net worth, Gill’s net worth fluctuates greatly each day due to the risky nature of these bets. Today’s 9% move higher in GameStop will likely disproportionately push this number higher due to the significant options position he holds.
We’ll have to see how this all turns out. For now, the story appears to be far from over.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
