The conservative news outlet’s blockbuster public listing on Monday catapulted its founder and CEO, Chris Ruddy, into the billionaire ranks.

Christopher Ruddy, renowned journalist and founder of conservative outlet, Newsmax, is now a billionaire. The Chief Executive Officer of the company now boasts a fortune of about $3.3 billion following the 735% surge in its shares.

Newsmax Inc.’s debut as a public company has given founder and Chief Executive Officer Christopher Ruddy a fortune of about $3.3 billion after its shares surged 735%.

The Newsmax IPO was one for the record books. Priced at $10 per share, the cable TV company closed its first day of open-market trading at $83.51 and its second at $233, after rising as high as $265.

Newsmax Media CEO Chris Ruddy joins "Squawk Box' to discuss the company's public debut on Wall Street today, state of digital news media, competition against FOX News, growth outlook, and more. JOE KERNEN,

Investors spooked by Trump's reciprocal tariff policy continued a selloff at the market open Thursday with the Dow plunging 1,400 points.

Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.

Newsmax celebrated the launch of its IPO by ringing the opening bell at the New York Stock Exchange on Thursday. The network’s founder and CEO Chris Ruddy was joined by other Newsmax talent and staffers to mark the start of the trading day.

Analysts attribute the surge in Newsmax’s stock to retail investors, drawing comparisons to the meme-stock phenomenon witnessed with companies like GameStop. The concept of meme

Newsmax (NMAX) shares bounced Thursday, turning positive after first extending their retreat from post-IPO highs. The self-described conservative media company went public Monday, kicking off a whirlwind week of trading.