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Schwab Agrees to Buy Private Share Platform for $660 Million | Bloomberg Businessweek
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November 7, 2025
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Charles Schwab Corp. agreed to buy Forge Global Holdings Inc., a marketplace for buying and selling shares of private companies, for about $660 million.
Under the terms of the transaction, Schwab will acquire all of Forge’s shares for $45 apiece, according a statement Thursday. That’s about 72% more than the closing price on Wednesday.
The deal would be the first for Schwab under Chief Executive Officer Rick Wurster, who took the helm of the retail brokerage at the beginning of the year. Acquiring Forge could aid his ambition to give customers more opportunities to gain exposure to unlisted companies, especially as those firms stay private for longer.
Westlake, Texas-based Schwab, which is also a bank, was swept up in the regional banking turmoil of 2023, but has since rebounded, reporting third-quarter earnings last month that beat estimates as consumers flocked to investing. Wurster said at the time that new Schwab brokerage accounts topped 1 million for the fourth quarter in a row.
Today's show features:
Rick Wurster, President & CEO of Charles Schwab on his firm agreeing to buy Forge Global Holdings
Kevin Gordon, Head of Macro Research and Strategy, Schwab Center for Financial Research on the challenges of investing amid the US government shutdown
Cayla Culver, Head of Risk & Controls, Schwab Advisor Services, on regulatory risks in the financial sector
Mike Townsend, Managing Director, Legislative & Regulatory Affairs, Charles Schwab, on evaluating political risks in the financial world on behalf of clients
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Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.
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