What you need
- No single person "created" it—it evolved organically from trader communities
- Roots trace back to FAANG (2013), then expanded to Magnificent Seven (2023)
- Popularized by Reddit WallStreetBets, Twitter FinTwit, and Bloomberg terminals
- Bank of America analyst Michael Hartnett coined "Magnificent Seven" in 2023
- The "Bro Billionaire" label emerged from retail culture mocking institutional jargon
- It's now the most tracked basket globally—$12 trillion in market cap
The Direct Answer
No one person created the Bro Billionaire Index. It's a grassroots phenomenon—an organic convergence of Wall Street research, Reddit trader culture, and billionaire 13F filing analysis. The closest thing to a "creator" moment was Bank of America's Michael Hartnett dubbing these stocks the "Magnificent Seven" in May 2023, which went viral and stuck.
But the concept predates that label. Let's trace the lineage.
Contrarian Take
Everyone's worried about Meta's metaverse spending. They should be. But what they miss is that Meta's AI advertising engine is so far ahead, they can burn $10B yearly on moonshots and still dominate.
The Evolution: From FAANG to Magnificent Seven
FAANG is Born
Creator: Jim Cramer (CNBC's Mad Money)
Jim Cramer coined "FANG" stocks—Facebook, Amazon, Netflix, Google. Later added Apple to make "FAANG." These were the high-growth tech darlings dominating portfolios.
The seeds were planted. Tech concentration began.
Reddit Discovers Leverage
Origin: r/WallStreetBets
WSB degenerates started calling FAANG + Microsoft the "Can't Lose Stocks"—buy calls, watch portfolio moon. Tesla wasn't included yet (pre-profitability skepticism).
"This is the way" culture solidified around these names.
COVID Rocket Fuel
Catalyst: Pandemic Work-From-Home
Tech stocks exploded. Apple, Microsoft, Amazon, Google, Facebook, Netflix became household names among retail traders. Robinhood users piled in. Tesla joined the party with S&P 500 inclusion.
These 6-7 stocks carried the entire market rally.
Billionaires Go All-In
Evidence: 13F Filings
Tiger Global, Coatue, Whale Rock—every hedge fund had 40-60% of their portfolio in FAANG + Microsoft + Tesla + Nvidia. Bill Ackman loaded Alphabet. Chase Coleman loaded Meta.
Retail noticed: "If billionaires are this concentrated, so should we be."
The Great Crash
Reality Check: -50% to -75% Drawdowns
Meta dropped 76%. Tesla dropped 73%. Netflix crashed 80%. The "can't lose" narrative shattered. Retail panic-sold. But billionaires held or bought more.
This separation revealed who had true conviction.
The Magnificent Seven Label Drops
Creator: Michael Hartnett (Bank of America)
In May 2023, Hartnett published a note dubbing Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, Tesla the "Magnificent Seven." The name referenced the 1960 Western film—7 heroes saving a village.
Bloomberg, CNBC, WSJ picked it up. The term went viral.
"Bro Billionaire" Emerges
Origin: Internet Meme Culture
Retail traders on Reddit, Twitter, Discord started calling them "Bro Billionaire Stocks"—a tongue-in-cheek term mocking both the bro-culture obsession AND the fact that billionaires were making all the money.
Sarcasm evolved into identity. The label stuck.
Mainstream Adoption
Result: Everyone Uses It Now
Financial advisors, YouTube influencers, Bloomberg articles, Indian brokers—everyone talks about "Magnificent Seven" or "Bro Billionaire Stocks." It's no longer fringe; it's the default framework for understanding tech dominance.
From meme to mandate in 7 years.
The Key Contributors
While no one "owns" the concept, these individuals and communities shaped it:
Coined FAANG (2013), the precursor concept
Bank of America analyst who coined "Magnificent Seven" (2023)
Popularized the "all-in tech" mentality
Twitter traders who spread the memes
Tiger Global, Coatue, Pershing Square—validated the strategy through 13Fs
Tracked the dominance, gave data legitimacy
Why Did This Basket Concept Go Viral?
Other baskets failed. Remember "MATANA" (Microsoft, Apple, Tesla, Alphabet, Nvidia, Amazon)? Yeah, nobody does. So why did "Magnificent Seven" / "Bro Billionaire" become the dominant framework?
1. It Was Simple & Memorable
Seven stocks. Easy to remember. Movie reference (Magnificent Seven) gave it cultural stickiness. Unlike "FAANGMANT" or other awkward acronyms, this rolled off the tongue.
2. It Had Narrative Power
The story was compelling: Seven tech giants saving the market (like the 7 heroes saving a village in the film). During 2023's rally, these seven stocks accounted for 80%+ of S&P 500 gains. The name fit the reality.
3. It Reflected Billionaire Behavior
When retail traders analyzed billionaire 13F filings, they saw the same 7 names at the top of every portfolio. It wasn't random—it was consensus among the smartest money.
4. It Was Democratized by Social Media
Unlike previous Wall Street jargon (like "PIIGS" or "BRICS"), this basket was popularized bottom-up. Retail traders felt ownership. The "Bro Billionaire" label was their way of claiming it.
5. It Made Money
Ultimately, people remember what works. From 2023-2025, these seven stocks collectively returned 150%+. Winners get attention. Losers get forgotten.
"The best investment frameworks aren't invented in boardrooms. They're discovered by people watching what actually makes money—and giving it a name everyone can understand."
— Anonymous FinTwit Trader
The Other Names That Didn't Stick
Before "Magnificent Seven" and "Bro Billionaire" won, these names competed:
| Name | Who Used It | Why It Failed |
|---|---|---|
| FAANGMANT | Wall Street analysts | Unpronounceable. Sounded like a Star Wars character. Too long. |
| MATANA | Bloomberg contributors | Excluded Meta and Tesla. Didn't catch on. |
| Mega 7 | Financial media | Too generic. Sounded like a lottery. |
| Tech Titans | CNBC | Boring. No cultural hook. |
| The Infinites | Reddit niche forums | Too pretentious. Never left Reddit. |
What Made "Magnificent Seven" Win: Cultural reference (movie), clear number (seven), positive connotation (magnificent). It was viral-ready.
What Made "Bro Billionaire" Win: Ironic, self-aware, memeableBlended aspiration (billionaire) with self-deprecation (bro). Perfect for internet culture.
Is There an Official "Bro Billionaire Index"?
No. Unlike the S&P 500 (managed by S&P Global) or Nasdaq-100 (managed by Nasdaq), there's no formal index committee, ticker symbol, or ETF (yet) that tracks "Bro Billionaire Stocks" or "Magnificent Seven."
It's a conceptual basket—a shared mental model among traders, not a licensed financial product. Think of it like "Blue Chip Stocks" or "Growth Stocks"—everyone knows what it means, but there's no single authority defining it.
Why No Official Index?
1. No Central Authority: No company wants to "own" it and deal with rebalancing disputes.
2. Trademark Issues: "Magnificent Seven" is a movie title. "Bro Billionaire" sounds unprofessional for institutions.
3. Fluidity: The basket changes organically. Official indices require rigid rules.
4. It's More Powerful Unofficial: The grassroots nature IS the appeal. Institutionalizing it will likely kill the vibe.
However, several ETFs effectively track these stocks. See our article "Is There an ETF for Bro Billionaire Stocks?" for details.
How This Basket Changed Investing Culture
The rise of the Bro Billionaire / Magnificent Seven concept fundamentally altered how retail investors think:
Before (Pre-2020): Diversification Was King
"Don't put all your eggs in one basket." Buy 30 stocks. Index funds. Spread risk. The traditional wisdom.
After (2020+): Concentration Became Acceptable
"Put all your eggs in one basket and watch that basket." If billionaires hold 40% in tech, why can't I? Retail investors started building 5-7 stock portfolios centered on these names.
The New Investing Playbook
Concentration
50-70% of portfolio in Mag 7 stocks. Rest in index funds or cash.
Momentum
Follow what's working. If Nvidia is ripping, buy more Nvidia.
Long-Term Hold
Buy and hold for 3-5+ years. Ignore the noise. Conviction over activity.
Copy Billionaires
Track 13F filings. If Ackman buys, you buy. If Druckenmiller sells, investigate why.
Frequently Asked Questions
1. Did anyone profit from "creating" this index?
No. Since it's not a financial product, there's no licensing revenue or management fees. The creators (collective community) profited by investing in the stocks themselves—but not from the label.
2. Who decides which stocks are in the basket?
Consensus. If a stock is in the top 10 by market cap, appears in most billionaire 13Fs, and has a retail following, it's "in." If it fails those tests, it's "out." No formal committee.
3. Could someone trademark "Bro Billionaire" or "Magnificent Seven"?
"Magnificent Seven" is already a 1960 film title (public domain remake of Kurosawa's "Seven Samurai"). "Bro Billionaire" could theoretically be trademarked, but it's already too widely used to enforce.
4. Is this just a bubble/fad that will fade?
Possibly. FAANG dominated 2013-2020, then evolved. If AI hype crashes or new sectors (biotech, energy) dominate, the basket will rotate. But as long as these 7 companies print money, the concept persists.
5. Can I create my own version of this basket?
Absolutely. Many traders have "Dividend Billionaire Stocks" or "Small Cap Billionaire Stocks" variants. The framework is open-source. Just analyze billionaire filings and find patterns.
The Final Word
The Bro Billionaire Index / Magnificent Seven wasn't created—it was discovered. Like gravity or fire, it was always there in the data. Jim Cramer pointed at tech concentration. Reddit amplified it. Michael Hartnett named it. Retail traders claimed it.
No one owns it. Everyone uses it. That's the beauty of a grassroots financial framework—it belongs to whoever finds value in it.
You don't need permission to follow billionaire portfolios. The playbook is public. The only question is: do you have the conviction to execute it?