Bloom Energy Stock Soars Over 1300% in Past Year, CEO's Net Worth Hits $1.7 Billion

Bloom Energy Corp., a fuel cell manufacturer, has experienced a dramatic surge in stock price over the past 12 months, with shares climbing more than 1300%. CEO K.R. Sridhar, who holds 1.7% stake in the company, now has a personal net worth of $1.7 billion, joining the billionaire ranks.

The company reported strong first-quarter results with revenue of $751.1 million and net profit of $70.7 million. Bloom Energy has partnerships with Oracle Corp. and Brookfield Asset Management Ltd. to supply power to data centers, capitalizing on growing demand for reliable energy solutions in the sector.