SmileDirect Club founders and Detroit natives Jordan Katzman and Alex Fenkell could soon become some of the world’s youngest billionaires.
The teeth-alignment company SmileDirectClub (SDC) has faced some backlash from the dental industry, yet its 30-year-old founders could soon become billionaires as their company hit the stock market Thursday, Sept. 12.
In just three steps, SmileDirectClub aims to help customers improve their teeth alignment via 3D teeth imaging, custom aligners and teledentistry visits with state-licensed professionals.
Childhood friends Jordan Katzman and Alex Fenkell started the company in 2014. According to a recent article in Forbes, they each own roughly 25 percent of the company, with stock values projected to be around $1.3 billion. If these estimates are correct, this would place them among the ranks as some of the youngest billionaires in the world.
One of SmileDirectClub’s first investors was NBA star Draymond Green, who believed in their mission from the beginning.
Fenkell is the grandson of philanthropist and former chairman of Liberty State Bank & Trust, the late Morrie Fenkell. In 2017, he and Katzman were featured in Inc.’s 30 under 30 list.
Forbes also indicated Katzman’s father, David, who owns investment firm Camelot Venture Group, is set to collect the biggest check if the projections are correct. He acts as CEO of SmileDirectClub and owns nearly a third of the company’s shares.
In 2018, Katzman and Fenkell spoke with the Detroit Jewish News about their booming business, crediting their work ethic and family support as keys to their success.
“The early success we’ve seen with SDC is a product of our hard work, a skill that was instilled in both Alex and me from an early age through the influence of our families and many individuals throughout our communities, as well as the hard work and influence of the team at Camelot Venture Group,” Katzman said.
Digital Editor Allison Jacobs contributed to this article.
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