Snap co-founders' worth is $5.3 bn each after IPO

Company raised $3.4 bn in Wednesday's initial public offering when it sold 200 million shares for $17 each

Snap Inc’s Evan Spiegel and Bobby Murphy each added $1.6 billion to his fortune on Thursday after shares in the photo-sharing mobile app closed at $24.48, 44 per cent above their listing price.

Investor appetite for the first technology listing of the year boosted the net worth of each co-founder to $5.3 billion, propelling Spiegel, 26, and Murphy, 28, up more than 150 places on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people.

Other winners from the offering included venture capital firms Benchmark Capital and Lightspeed Venture Partners, whose stakes rose $904 million and $613 million respectively.