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Adam Moelis
Co-Founder at Yotta
Adam Moelis is the Co-Founder and CEO of Yotta Savings, a financial technology company he founded in October 2019.148 Yotta aims to help Americans become more financially secure by offering a unique savings platform that combines traditional banking with lottery-like prize drawings.14
Moelis graduated from the Wharton School at the University of Pennsylvania with a Bachelor of Science in Economics, focusing on Finance and Accounting.28 Prior to founding Yotta, he worked at various companies including:
- YipitData as a Product Manager and Data Product Analyst (2016-2018)8
- Right Call Consulting as a Developer (2015-2016)8
- Goldman Sachs in the Special Situations Group (2014-2015)2
Yotta Savings offers FDIC-insured bank accounts that give users the chance to win prizes up to $10 million through weekly drawings.13 The company has raised significant funding, including a $13.2 million Series A round in January 2021.4
Adam Moelis comes from a notable background, being the son of billionaire investment banker Ken Moelis.4 This connection likely contributed to early funding for Yotta, which included investments from hedge fund manager Cliff Asness and Ken Moelis himself.4
Under Moelis's leadership, Yotta has grown to serve over 700,000 members and has expanded its offerings to include various financial products and services.5 The company's innovative approach to savings has garnered attention in the fintech industry, with Moelis appearing on podcasts and in industry publications to discuss Yotta's mission and business model.67
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