Robinhood CEO Vlad Tenev believes expanding the company’s suite of digital investment products will encourage more customers to pay monthly subscriptions. Robinhood Gold, priced at $5 monthly or $50 annually, already offers perks like 4% interest on uninvested cash, professional research, and interest-free margin borrowing up to $1,000.

The company recently introduced Robinhood Strategies, a wealth management feature for Gold subscribers. This service includes professionally curated portfolios of ETFs and selected stocks, carrying an annual management fee of 0.25%, capped at $250.

Vlad Tenev
Robinhood CEO, Vlad Tenev.

Robinhood also launched Robinhood Banking, giving Gold members exclusive benefits such as private banking services, tax advice, estate planning, and luxury perks like private jet access, five-star hotel stays, and tickets to events like Coachella. Additionally, customers will soon have cash delivered directly to their homes, though specific details remain limited.

In an interview with CNBC, Tenev compared Robinhood’s subscription model to popular services like Amazon Prime and Costco, where users justify fees by the value they receive, fostering brand loyalty. “My philosophy is subscriptions are about loyalty,” Tenev stated. “If you subscribe, that service becomes your first choice when exploring related offerings.”

According to Tenev, loyalty in financial services directly translates to capturing greater “wallet share.” He noted the significant growth in Robinhood’s subscriber base, increasing from about 1.5 million a year ago to 3.2 million currently, making it at least a $100 million annual revenue stream.

Robinhood initially gained popularity among young investors by simplifying fractional share investments via its mobile app and later expanding into crypto. Tenev emphasized that the company’s long-term goal is becoming the primary platform to “buy, sell, trade, hold any financial asset, and conduct any financial transaction.”

Shares of Robinhood rose 19% this year, following an impressive near-tripling in 2024, driven largely by rising crypto prices.