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Evening Standard
Evening Standard
Business
Simon Hunt

Millionaire WANdisco founders’ wealth evaporates after tech firm rejoins stock exchange

WANdisco David Richards United States

Tens of millions have been wiped from the wealth of the founders of WANdisco after shares in the scandal-hit tech business plummeted 96% as its stock was re-admitted to trading for the first time in months.

The fortune of co-founder and former CEO David Richards, who once had a net worth of £38 million according to an Evening Standard analysis, has been all-but wiped out as his stake in the business is now worth just £920,000, while co-founder Yeturu Aahlad has seen his shares sink in value from £48 million to £1.2 million.

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