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Craig Arnold, renowned as one of America’s leading Black CEOs, has seen a notable boost in his wealth as his stake in Eaton Corporation Plc jumped by $13.6 million due to the recent surge in the company’s share price.
According to data tracked by Billionaires.Africa, Arnold, the chairman and CEO of Eaton Corporation, has seen the market value of his stake in the global intelligent power management company, rise by $13.63 million over the past month.
This recent surge follows closely on the heels of another significant increase of $15.7 million recorded from Jan. 1 to Feb. 7. During this period, the market value of Arnold’s stake in Eaton Corporation surged impressively from $124.52 million to $140.2 million.
Eaton Corporation stock soars, market cap nears $120 billion
Eaton Corporation, a multinational power management company headquartered in the United States and Ireland, recorded $20.75 billion in sales in 2022. Led by CEO Arnold, the company remains committed to providing energy-efficient solutions across more than 175 countries, ensuring reliable, efficient, safe, and sustainable power management for its customers.
The company’s stock performance on the New York Stock Exchange has been impressive since Feb. 13, with shares surging by 9.68 percent from $272.38 to $298.74 as of the latest update. This surge has driven the company’s market capitalization close to $120 billion, yielding significant returns for shareholders, including CEO Arnold.
Arnold’s stake in Eaton surges above $150 million amid recent market rally
Arnold, recognized as one of America’s leading executives, holds a beneficial 0.13-percent stake in the power management company, equivalent to 517,061 shares. His diverse investment portfolio includes a minority 0.0027-percent stake in Medtronic Plc, valued at more than $3 million.
Attributable to the recent upswing in Eaton Corporation’s shares, the market value of Arnold’s stake in the company has risen by $13.63 million over the past 29 days, climbing from $140.84 million on February 13 to $154.47 million at the time of writing.
The recent upsurge in Eaton Corporation’s share price underscores Arnold’s strategic leadership, emphasizing the company’s dedication to innovation and sustainable power management solutions, which continue to attract investors.
