Craig Arnold, hailed as one of America’s leading Black CEOs, has seen his wealth plummet, with the market value of his Eaton Corporation investment falling by $6.2 million due to the company’s recent share slide.
Arnold, Eaton’s chairman and CEO, has seen the market value of his shares in the worldwide intelligent power management firm fall by $6.21 million in the last eight days.
This setback follows a large rise of $8.5 million during March 15-March 28. During that time, Arnold’s Eaton Corporation stock increased from $154.03 million to $162.56 million.
Eaton Corporation, a multinational power management company headquartered in the United States and Ireland, reported $20.75 billion in revenue in 2022. Arnold leads the company, which continues to provide energy-saving solutions in over 175 countries, ensuring its customers’ reliable, efficient, safe, and sustainable power management.
Eaton’s share price on the New York Stock Exchange has fallen 3.63 percent in the last eight days, from $330.51 on April 5, 2024, to $318.50. This fall has driven the company’s market capitalization below $130 billion, resulting in losses for investors.
Arnold, regarded as one of America’s top executives, owns a favorable 0.13 percent ownership in the power management company, which equates to 517,061 shares. His investing portfolio includes a small 0.0027 percent ownership in Medtronic Plc, worth more than $3 million.
With the current fall, the market value of Arnold’s share in the company has dropped by $6.21 million in the last 8 days, from $170.89 million on April 5 to $164.68 million at the time of writing.
Despite a fall in Eaton’s stock price, Arnold’s strategic leadership, highlighting the company’s dedication to innovation and sustainable power management solutions, continues to attract investors.