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Key Points
- Craig Arnold’s Eaton holdings now total nearly $270 million, marking him as one of the world’s wealthiest Black executives.
- Arnold’s stake rose by $23.97 million in 10 days, following a surge in Eaton Corp.'s stock price on the NYSE.
- Eaton's stock is up 51% year-to-date, delivering strong returns, with a $100,000 investment now worth $151,005.
Craig Arnold, CEO, and chairman of Eaton Corp., has seen his holdings in the power management company rise to nearly $270 million, cementing his position among the world’s richest Black executives.
Arnold, Eaton’s CEO and chairman since 2016, owns 737,044 shares, representing a 0.14 percent stake in the power management firm. His holdings jumped $23.97 million in 10 days, fueled by a rally in the company’s stock on the New York Stock Exchange (NYSE).
The recent surge builds on an earlier gain of $43.57 million from Sept. 6 to Oct. 23, when the value of his holdings climbed from $210.04 million to $253.60 million.
Eaton Corp. reports strong growth, boosting stock price
Eaton Corp., a leading provider of energy-efficient solutions in over 175 countries, reported strong results for the first nine months of 2024.
Net sales grew 8.18 percent to $18.6 billion compared to the same period last year. The company declared a quarterly dividend of $374.21 million, or $0.94 per share, underscoring its commitment to shareholders.
Eaton's stock has surged 9.82 percent in the past 10 days, rising from $331.13 on Nov. 4 to $363.65, bringing its market cap closer to $145 billion.
CEO Craig Arnold's stake in the company increased by $23.97 million, from $244.06 million to $268.03 million, following the share price climb.
Your Money and Your Life
Eaton Corp. has delivered strong returns to shareholders in 2024. The company's stock is up 51 percent year-to-date on the New York Stock Exchange.
A $100,000 investment at the start of the year would now be worth $151,005, reflecting a gain of $51,005.
