Kelly Loeffler’s Husband Is Now Officially A Billionaire

– Kelly Loeffler –

When news hit that Kelly Loeffler and her husband, Jeff Sprecher, had sold millions of dollars of stock in the early days of the pandemic, it became a national scandal.

Millions of Americans suddenly found themselves without jobs, and the headlines suggested that a rich senator had used nonpublic information to cash out just before the market crashed.

What Did Kelly Loeffler and Her Husband Do

Who is Jeff Sprecher

What Did Jeff Sprecher Do?

Sprecher married Kelly Loeffler, another ICE employee, in 2004. Sprecher took the company public a year later.

His personal 4.5 percent stake was worth more than $10 million at the time.

From there, he expanded the company by acquiring exchanges and clearing houses around the world, including the New York Stock Exchange in 2013.

Rather than riding the wave of increased electronic trading, Sprecher concentrated on expanding his company’s footprint in other burgeoning areas, such as fixed-income markets, market data, and mortgages.

“He’s known in the industry as a visionary,” says Piper Sandler analyst Richard Repetto.

What are Kelly and her Husband Known for?

He and Loeffler quickly became well-known outside of the industry after donating to Republican causes and hosting political fundraisers at their Atlanta mansion.

When Georgia Republican Sen. Johnny Isakson retired at the end of 2019, Gov. Brian Kemp appointed Loeffler to fill Isakson’s seat. She left her position as CEO of one of ICE’s subsidiaries and took office in January 2020.

Loeffler was soon embroiled in the stock-trading scandal.

Loeffler and Sprecher sold up to $3.1 million in stock in January and February of 2020, as the pandemic sent markets plummeting to their lowest point in three years, according to public filings first reported by The Daily Beast.

Later in February and early March, the couple sold additional shares worth up to $20 million. There was outrage.

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FAQs

Loeffler was the CEO of Bakkt, a subsidiary of the commodity and financial services provider Intercontinental Exchange, whose CEO is her husband, Jeffrey Sprecher. She was a former co-owner of the Women’s National Basketball Association’s Atlanta Dream (WNBA).

Jeffrey C. Sprecher