Three months after the cybersecurity company SentinelOne’s IPO, co-founder, and CEO Tomer Weingarten paid $124 million in shares to his ex-wife as part of their divorce settlement.
SentinelOne last week reported that Weingarten now holds 4.8 million shares directly and through a trustee, which are currently worth $295 million.
The shares are currently unavailable for sale and remain blocked following SentinelOne’s Wall Street initial public offering in late June.
Additionally, Weingarten switched the shares he gave to his ex-wife from Type B to Type A. Each type A share carries one vote. Each type B share carries twenty votes,
SentinelOne, founded in 2013, now has a market capitalization of $16.2 billion, placing it as Israel’s second most valuable company, behind NICE Systems, which is valued at $18.3 billion.
SentinelOne to become Israel’s most valued cybersecurity company after it has surpassed another Israeli cybersecurity giant, CheckPoint, which was formed in 1993 and currently has a market capitalization of $15.34 billion.
Founded by Tomer Weingarten, Almog Cohen and Ehud (“Udi”) Shamir SentinelOne developed an artificial intelligence-powered technology for monitoring personal computers, IoT devices, and cloud workloads.
The platform is based on a heuristic model, including patented behavioral AI. The company has about 970 employees and offices in Tel Aviv, Mountain View, Boston, and Tokyo.
SentinelOne was rated the seventh fastest-growing company in North America in 2019; the fastest-growing in Silicon Valley, and was the only cybersecurity company recognized in the top 10 of the Deloitte Technology Fast 500.
SentinelOne was also the only endpoint protection company on the Forbes AI 50 list, recognizing the 50 most promising companies adopting AI as a major aspect of its business model and profitability.
SentinelOne concluded its first public offering on the New York Stock Exchange (NYSE) on June 30, 2021, raising $1.2 billion.