GME Surge Propels 'Roaring Kitty' Towards Billionaire Status Amid Short Seller Losses

Keith Gill, also known as "Roaring Kitty," could potentially become the first GameStop (GME) billionaire as his gains from the GME saga reach around $300 million. Gill, credited with igniting the GameStop frenzy, disclosed holding approximately $181.4 million worth of GME stock and call options, signaling a significant stake in the company. If the surge in GME stock continues, Gill's net worth could escalate to billionaire status within the week, according to speculations. Short sellers are experiencing substantial losses, with GameStop's recent rally contributing to a monthly loss of about $1.4 billion, as indicated by financial data provider S3 Partners. Citron Research, one of the prominent short sellers, previously announced its short position on GME, experiencing significant losses, notably in January 2021, when they were forced to cover their short positions due to the retail buying frenzy sparked by Gill's actions.