Quick answer
Mike Cagney's net worth is estimated at about $1.9 billion. He became a billionaire in September 2025, days after the IPO of Figure Technology Solutions (Nasdaq: FIGR), the blockchain lender he co-founded in 2018. The Bloomberg Billionaires Index added him in its first post-IPO refresh, estimating his fortune at nearly $2 billion — making him, in Bloomberg's words, the latest "blockchain billionaire" minted by the post-IPO surge.
Cagney's wealth is almost entirely one asset: his controlling stake in Figure. He holds roughly 53.7 million shares — about 6.5% of the equity but, thanks to super-voting Class B stock, about 72.9% of the voting power. His net worth therefore swings hard with FIGR's price: at the stock's January 2026 peak of $78, his stake was worth north of $4 billion; at early-October 2026 levels near $28.50, it's worth roughly $1.5 billion. The $1.9 billion figure is Bloomberg's post-IPO estimate, and it remains the best-verified benchmark.
The billionaire moment: September 2025
Figure priced its IPO on the night of September 10, 2025, at $25 a share — already $3 above the top of its upsized $20–$22 range, itself raised from an initial $18–$20. The offering sold 31.5 million shares and raised $787.5 million, valuing the company at about $5.29 billion. When trading opened the next morning, FIGR popped to $36 — a 44% gain — and closed its first day around $31. Within days the valuation had climbed toward $7.6 billion.
That surge is what put Cagney on Bloomberg's radar. Shares soared almost 40% in the first two days, Bloomberg reported, "making him the latest in a recent surge of newly minted crypto-related billionaires." The index's estimate attributed most of his wealth to his Figure holdings and assumed he had sold his SoFi stake after stepping down in 2017 — a reasonable assumption given his clean break from the company he co-founded.
It was a comeback years in the making. Cagney had left SoFi in September 2017 amid workplace controversies and litigation, saying the media coverage had become a distraction. Eight years later, his second act — a blockchain company most of Wall Street had barely heard of — had made him richer than the exit that made his name. For the full arc, see how Mike Cagney made his money.
The stake: how 6.5% of the equity buys a billion dollars
Cagney's ownership structure is the key to the whole fortune. Figure's IPO prospectus (S-1/A, filed September 2025) laid it out in detail:
| Holding | Shares | Share of class |
|---|---|---|
| Class A common stock (pre-IPO) | 12,728,519 | 8.4% |
| Class B common stock (pre-IPO) | 42,452,951 | 100% |
| Voting power (pre-IPO) | — | 75.9% |
| Sold in IPO (secondary shares) | 1,500,000 | — |
| Class A (post-IPO) | ~11,228,519 | ~6.5% |
| Class B (post-IPO, 10 votes each) | 42,452,951 | 100% |
| Total economic stake | ~53.7 million shares | ~6.5% of equity |
| Voting power (post-IPO) | — | ~72.9% |
The arithmetic is what matters. Each Class B share carries 10 votes, so Cagney controls a decisive majority of Figure's votes while owning a mid-single-digit share of the economics. Figure's 2026 proxy statement confirms the structure: Class B represents about two-thirds of total voting power and "Michael Cagney controls a majority of the voting power," making Figure a "controlled company" under Nasdaq rules.
That control is financially meaningful beyond governance. Founders with majority voting power can steer strategy without fear of activist pressure — a real asset at a company whose thesis (tokenizing capital markets on blockchain) requires a long runway.
What he sold — and what he kept
Cagney did take some chips off the table. He was one of the selling stockholders in the IPO, offering 1.5 million shares out of the 7,993,395 secondary shares — worth about $37.5 million at the $25 IPO price. The company's own sale (23.5 million shares) funded growth; the secondary sale, including Cagney's, put cash in founders' and early investors' pockets.
But the sale was modest by design. He kept all 42.5 million Class B super-voting shares — the control block — and the vast majority of his Class A position. The message was clear: the IPO was about liquidity and currency, not an exit. Cagney has publicly compared his ambition for Figure to the "Magnificent Seven of Web 2.0," telling Bloomberg TV he sees Figure as a key player in the next wave of blockchain-powered businesses. A founder selling 3% of his stake doesn't signal doubt; it signals house money.
There has been modest insider selling since. In April 2026, a spouse-held account associated with June Ou sold 67,840 shares under a Rule 10b5-1 plan at $33.85–$35.93. That was Ou's account, not Cagney's — and it followed a December 2025 plan adoption, i.e., scheduled, pre-announced liquidity rather than a signal.
The household fortune: June Ou's stake
One of the unusual features of Figure's cap table is that Cagney's wife holds a parallel fortune. June Ou — SoFi's former chief technology officer, Figure's co-founder and former COO — owned 12,728,519 Class A shares (8.4% of the class) at the IPO, essentially mirroring Cagney's pre-sale Class A position. She received no director compensation in 2025, but her equity tells the real story.
Combined, the Cagney-Ou household controls roughly 66 million-plus Figure shares plus the entire Class B control block — a household position worth well over $2 billion at post-IPO prices. It's a reminder that Figure was, from day one, a family-founded enterprise: the two met at SoFi and built Figure together in 2018. For more on the companies, see the full list of Mike Cagney's companies.
From SoFi exit to billionaire: the eight-year rebuild
The wealth trajectory is really two careers. The first — Wells Fargo trader, Finaplex founder (sold to Broadridge), Cabezon hedge fund manager, then SoFi co-founder and CEO from 2011 to 2017 — made Cagney wealthy but not a billionaire. SoFi's $1 billion SoftBank-led round in 2015 (then the largest private fintech financing ever) and its $4 billion-plus valuation by 2017 built substantial paper wealth, but his 2017 departure severed most of that upside; Bloomberg's index assumes he sold his SoFi stake after stepping down.
The second career started in 2018 with Figure: home equity lines of credit originated on the Provenance Blockchain, which Cagney co-founded as a public proof-of-stake Layer 1 chain. Figure grew quietly but relentlessly — over $16 billion in blockchain-based loans funded, more than $19 billion in HELOC originations by 2025, and the largest non-bank HELOC provider in the U.S. Revenue hit $340.9 million in 2024 (+63%), with the company swinging from a $52.4 million loss to a $19.9 million profit — a rare profitable fintech IPO.
The market rewarded that trajectory: IPO at $25, a $7.6 billion valuation within days, an all-time high of $78 in January 2026. At that peak, Cagney's stake was worth roughly $4.2 billion — more than double the Bloomberg estimate.
What moves the fortune now
Cagney's net worth is now a single-variable equation: FIGR's share price. The stock has been volatile — the classic post-IPO pattern for a crypto-adjacent name. After the $78 January 2026 high, it pulled back sharply, trading around $28.50 on October 2, 2026 (52-week range: $24.11–$78, market cap ~$6.5 billion).
| FIGR share price | Value of ~53.7M-share stake | Context |
|---|---|---|
| $25 (IPO price, Sept 2025) | ~$1.34B | IPO pricing night |
| $40 (late Sept 2025) | ~$2.15B | Bloomberg index estimate zone (~$1.9B) |
| $78 (Jan 2026 high) | ~$4.19B | All-time high |
| $28.53 (Oct 2, 2026) | ~$1.53B | Most recent close |
Note the stake math above is approximate — it values all shares at the Class A price and ignores lock-up and control discounts. Bloomberg's methodology applies its own haircuts, which is why its $1.9 billion estimate sat below the raw $2.15 billion figure at $40. The honest headline: Cagney is a billionaire at almost any FIGR price above ~$19, and a multi-billionaire whenever the blockchain-lending narrative runs hot.
Longer term, two things could move the needle beyond the stock: Figure's 2026 OPEN platform (on-chain public equity) and Cagney's new venture The Wallet Co (launched August 2026). Neither is valued in the Bloomberg estimate yet. For the pay side of the story, see Mike Cagney's salary and compensation, and for the head-to-head with his SoFi successor, Cagney vs. Anthony Noto.
Frequently asked questions
What is Mike Cagney's net worth in 2026?
Mike Cagney's net worth is estimated at about $1.9 billion. He first appeared on the Bloomberg Billionaires Index in September 2025, days after Figure Technology Solutions' IPO, with Bloomberg estimating his fortune at nearly $2 billion. The estimate moves with Figure's stock price: at FIGR's January 2026 peak of $78 a share, his stake was worth well over $4 billion; at early-October 2026 prices near $28.50, the same stake is worth roughly $1.5 billion.
How did Mike Cagney become a billionaire?
He became a billionaire through his controlling stake in Figure Technology Solutions, the blockchain lender he co-founded in 2018 with his wife June Ou. Figure's September 2025 IPO — priced at $25 a share, opening at $36 — lifted the company's valuation above $7 billion within days, and Cagney's roughly 53.7 million shares (about 6.5% of the equity but a majority of the voting power) made him a billionaire overnight. Read the full story in how he built his fortune.
How many Figure shares does Mike Cagney own?
According to Figure's IPO prospectus (S-1/A, September 2025), Cagney beneficially owned about 11.2 million Class A shares and 42.5 million Class B shares after selling 1.5 million shares in the IPO — roughly 53.7 million shares in total, or about 6.5% of the equity. Because each Class B share carries 10 votes, he controls about 72.9% of the voting power, making Figure a controlled company under Nasdaq rules.
Did Mike Cagney sell shares in the Figure IPO?
Yes. Cagney sold 1.5 million shares as part of the IPO's 7,993,395 secondary shares, cashing out roughly $37.5 million at the $25 IPO price. The bulk of his stake — the 42.5 million Class B shares carrying super-voting rights — remained untouched, preserving his majority control of the company.
Does Mike Cagney's wife June Ou own Figure stock?
Yes — June Ou, Cagney's wife and Figure's co-founder and former COO, holds her own large stake: about 12.7 million Class A shares (8.4% of the class) per the IPO prospectus. In April 2026 she sold 67,840 shares through a 10b5-1 trading plan at prices between roughly $33.85 and $35.93. Combined, the couple's household stake represents a major portion of Figure's equity.
Is Mike Cagney married?
Yes. Mike Cagney is married to June Ou, whom he met at SoFi, where she served as chief technology officer. In 2018 — a year after Cagney's departure from SoFi — the couple co-founded Figure Technology Solutions together, with Ou serving as the company's chief operating officer. They have two children.
How old is Mike Cagney in 2026?
Mike Cagney is 55 years old in 2026. He was born on February 1, 1971, in Trenton, New Jersey, and grew up in Philadelphia, Detroit, and Southern California before earning degrees from UC Santa Cruz and a Stanford Graduate School of Business Sloan Fellowship.
Where does Mike Cagney live?
Cagney keeps his personal life private and there is no verified public record of his current home address. His business life has centered on the San Francisco Bay Area and New York: Figure operates out of both coasts, and he is a frequent presence at crypto and capital-markets events in New York and Washington, D.C.