Activist investor Carl Icahn first took a large stake in Apple back in August, when he announced that he had invested in a company he felt was “extremely undervalued.” He made his investment after speaking with CEO Tim Cook and has since pushed the company into stock buyback initiatives. Now we have an idea of just how much he has put into the tech company.
Icahn now has more than $3 billion invested in Apple, including new shares he purchased worth $500 million during the past two weeks, according to recent tweets in which he called Apple investments a “no brainer.”
The more he invests, the more power his words have with Apple and its shareholders. And he’s, again, using his power to push for additional buybacks in an effort to pay shareholders larger returns in investments in Apple. “We feel $APPL board is doing a great disservice to shareholders by not having markedly increased its buyback,” he said on Twitter, first spotted by Reuters. “In-depth letter to follow soon.”