Carl Icahn Just Made $180 Million This Morning
REUTERS/Jeff Zelevansky
It's a good day to be Carl Icahn.
The famed activist investor has been going after eBay for a while, urging it to spin off its PayPal business.
And now, they are doing it. EBay announced Tuesday morning that in 2015 PayPal would be spun off and traded separately. Current eBay investors will own shares in both companies after the spin is complete.
PayPal is the giant of online payments, and it's also the fastest-growing part of the business, so there's a belief that investors will pay a juicy premium for its shares when unencumbered by the traditional eBay business.
So how's Icahn doing Tuesday? Not bad.
He owns just over 30 million shares in the company, according to data from Bloomberg. EBay shares are already up about six bucks a piece. So that's a $180 million payday for Icahn. Well done!
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market