Christopher Ruddy, founder and CEO of Newsmax Inc., has become a billionaire following the company’s successful IPO. Newsmax’s shares surged 735%, giving Ruddy a fortune of approximately $3.3 billion. The conservative cable news network raised $75 million by selling shares at $10 each in its initial public offering. The stock closed at $83.51, reflecting significant investor interest despite trading pauses due to volatility. — new from Bloomberg.com
