“We actually own and self-fund our real estate so we have a bit of a luxury there.” Robinhood is a marketplace that facilitates transactions,” Michael said. “There are similarities but it’s not an apples-to-apples comparison. Through NYCE, the so-called “Robinhood of Real Estate,” all Americans can now invest in an ETF-style diversified, $500 million real estate portfolio. Historically, real estate is a safe, long-term investment attributed to the wealth of over 90% of U.S. Popular trading app Robinhood received more than 100,000 one-star reviews in an hour on Google's Play Store on January 28, plunging its average rating - the lifeblood of an app - to 1.1 stars out. “Simple shifts in individual behavior could reduce the wealth gap we have today.” “A lot of issues you see in America are really manifestations of classism,” CEO Philip Michael told Benzinga last year. With the recent app launch, the company is on track to hit 100,000 new investors in 2021. Why It Matters: The development comes after the company raised $1 million through the Regulation CF, on the Wefunder and Republic investing platforms, and grew to $500 million in self-funded assets, including its recent Hacker House by Temple University. bathing in fees from non-financially savvy customers," he said. “Wall Street is talking a good game and I’d like to see them actually come through with programs that help build wealth vs. Through a newly launched Robinhood-like app, micro-investors can now buy into real estate for $100.
ROBINHOOD APP STORE DRIVER
“The number one driver behind the racial wealth gap is absence of real estate ownership in minority communities,” CEO Philip Michael said, adding that NYCE created 2,000+ first-time real estate owners to date through its two public offerings.
ROBINHOOD APP STORE HOW TO
What Happened: According to some projections, median black wealth-measured by net worth-is projected to drop to $0 by 2053.įounded by Martin Braithwaite, a soccer player for FC Barcelona, and Philip Michael, author of “Real Estate Wealth Hacking: How To 10X Your Net Worth In 18 Months,” NYCE is looking to mend wealth disparities between different classes and demographics.
The number of users grew from half a million in 2014 up to 22.4 million in 2021. The number of users of the commission-free trading app Robinhood grew steadily since 2014, even though the app did not officially launch until mid-2015.