Robinhood Markets is a public company owned by its shareholders, but control sits with its two co-founders. Its Class A common stock has traded on the Nasdaq Global Select Market under the symbol HOOD since July 29, 2021, according to Robinhood's 2025 Form 10-K. Vlad Tenev and Baiju Bhatt hold all of the Class B common stock, which carries ten votes per share, per Robinhood's 2026 proxy statement.
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As of April 8, 2026, the proxy puts Tenev at 26.1% of total voting power and Bhatt at 32.0%, while the largest outside holder, BlackRock, held 7.0% of the Class A shares. Every figure below comes from Robinhood's SEC filings and is dated to the filing.
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Robinhood is owned by public shareholders who hold its Class A stock, plus Vlad Tenev and Baiju Bhatt, who started the company and hold all of its Class B stock. Class B shares carry far more votes than Class A shares. That structure lets the pair control most of the vote while owning a minority of the shares.
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The 2026 proxy statement reports 791,086,666 shares of Class A common stock and 109,745,620 shares of Class B common stock outstanding at the close of business on April 8, 2026. The same proxy says Class B stock is held exclusively by Mr. Tenev and Mr. Bhatt, which the filing calls the Co-Founders, and their related entities.
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The two share classes vote together as a single class on most matters. That is why a stake that looks modest by share count translates into majority control of director elections and other stockholder votes.
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Baiju Bhatt beneficially owns more of Robinhood's Class B stock than Vlad Tenev, while Tenev runs the company day to day. Neither man holds a majority of the vote alone. Together, with the rest of the board and management, they hold well over half of it, according to the most recent proxy statement.
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The table below reproduces the main rows of the beneficial ownership table in the 2026 proxy statement. Shares are as of April 8, 2026, except the BlackRock row, which the proxy dates to a later 13G filing.
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One detail matters when reading the two founder rows. Footnote 4 of the proxy says 565,079 Class B shares held by the Bhatt Family LLC appear in both rows, because Tenev holds sole voting power over them while Bhatt's side holds the investment power. Adding the two rows together therefore double counts those shares, which is why the proxy's group line is the better summary.
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Tenev and Bhatt control the vote through a dual-class share structure and a voting agreement between them. Class B shares carry ten votes each, only the two of them hold those shares, and they have agreed to vote together on director elections. Ordinary investors buy Class A shares, which carry one vote each.
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Footnote 3 of the 2026 proxy states that each holder of Class A common stock is entitled to one vote per share and each holder of Class B common stock is entitled to ten votes per share on all matters submitted to a stockholder vote. Robinhood's 10-K describes a Founders' Voting Agreement under which the founders agreed, among other things, to vote their shares for each other's election to the board and to vote together in the election of other directors.
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The same 10-K lists the triggers that would end the structure. Class B stock converts automatically on sale or transfer outside permitted transfers, and all Class B converts as a class if outstanding Class B falls below 5% of the combined Class A and Class B shares, among other conditions set out in the charter.
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The sequence below shows how a single stockholder vote is counted under this structure.
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BlackRock is the only outside holder above the SEC's large holder reporting line that Robinhood's latest proxy lists. Its stake sits entirely in Class A shares, reported through a Schedule 13G/A. Because those shares carry one vote each, BlackRock's slice of total voting power is far smaller than its slice of the Class A stock.
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Footnote 20 of the proxy says the BlackRock figure is as of September 30, 2025, and comes from a Schedule 13G/A filed with the SEC on October 17, 2025. The same footnote reports sole voting power over 50,794,713 Class A shares and sole investment power over 55,763,578. Funds managed by BlackRock hold those shares for their own investors.
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Among individual directors, Meyer Malka holds the largest Class A position, at 1.3% of that class according to the proxy table. Everyone else owns Robinhood through brokerage accounts, retirement plans and funds, and those holdings are too small to appear individually in the proxy.
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Robinhood Markets is the parent of the brokerage, crypto and other financial services sold under the Robinhood name. Shareholders own the company, not the assets customers keep on the platform. Robinhood reports the value of customer holdings as total platform assets, an operating metric rather than a measure of what the company itself owns.
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Robinhood's 2025 Form 10-K reports funded customers of 25.2 million for 2024 and 27.0 million for 2025, and total platform assets of $192.9 billion and $322.1 billion over the same two years. The same 10-K reports 4.18 million Robinhood Gold subscribers for 2025, up from 2.64 million.
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The 2026 proxy also describes Robinhood Wallet, a self-custody wallet in which customers hold their own private keys. Robinhood's work on tokenized assets is covered in Robinhood Tokenized Stocks: What's Live and How It Works and What Is Robinhood Chain?.
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Vlad Tenev leads Robinhood and also chairs its board. Baiju Bhatt remains a director and the largest Class B holder, but his day job is now at another company, Aetherflux. Bhatt's influence today comes mainly through his shares and the voting agreement rather than a management title.
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The 2026 proxy statement lists Tenev as Chair of the Board and Chief Executive Officer, and says he has been chair since March 2021. The same filing lists Bhatt's prior role as Robinhood's Chief Creative Officer from March 2021 to March 2024, and says both men co-founded Robinhood in 2013.
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Tenev's pay structure is unusual for a controlling founder. The proxy says his compensation since the 2021 IPO has been limited to a modest base salary, that he does not participate in the annual cash incentive program, and that his 2019 market-based performance awards fully vested in 2025.
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A proxy statement is a dated snapshot. It shows beneficial ownership on a record date, using SEC rules that count voting or investment power rather than economic interest. Positions change daily, and institutional figures often lag because they come from older Schedule 13G filings rather than from the record date itself.
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Three limits apply to this article. First, the BlackRock row in the 2026 proxy is as of September 30, 2025, six months before the record date for the insider rows. Second, the proxy lists only holders above 5%, so lists of Robinhood's "top ten shareholders" on finance sites come from other datasets this article does not use. Third, the founder rows overlap through the Bhatt Family LLC shares, so they should not be added together.
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Yes. Robinhood's Class A common stock trades on the Nasdaq Global Select Market under the symbol HOOD, per its 2025 Form 10-K.
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Vladimir Tenev is chair of the board and chief executive officer, per the 2026 proxy statement.
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No single bank or fund controls it. The only outside holder above 5% in the 2026 proxy is BlackRock, with 7.0% of Class A shares.
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Not on most matters today. The proxy puts all directors and executive officers, including both founders, at 58.6% of total voting power as of April 8, 2026.
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Read the latest proxy statement and Schedule 13G filings on SEC EDGAR.
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Ownership figures come from Robinhood's 2026 proxy statement (DEF 14A, filed April 22, 2026), with holdings as of April 8, 2026 unless the proxy notes another date. Listing details, customer metrics, the Founders' Voting Agreement and Class B conversion terms come from Robinhood's Form 10-K for 2025 (filed February 18, 2026). Both were fetched from SEC EDGAR on October 18, 2026. No ownership percentage in this article comes from any other source. Related reading: Coinbase Ownership: Brian Armstrong, Class B Voting Control and Who Owns PayPal?.
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