Snap’s Evan Spiegel is now worth more than two Oprahs

Media tycoon Sumner Redstone turned his ownership of theaters into an empire that controls MTV, Nickelodeon, and the movie studio that put out last year’s Arrival, Fences, and Zoolander 2. And he’s worth nearly $2.5 billion less than Evan Spiegel, the 26-year-old who founded Snapchat six years ago, when Redstone was 87.
On Thursday, investors bid up shares of Snapchat’s owner Snap Inc. from its IPO price of $17, to nearly $25. That gives Snap Inc a market value of $33 billion.