Craig Arnold, one of America’s most notable Black CEOs, has seen his fortune rise significantly, with the market value of his Eaton Corporation investment rising above $150 million as a result of the company’s recent share price increase on the NYSE.
Arnold, the chairman and CEO of Eaton, has seen his stake in the global power management corporation increase by $14.19 million in the last 17 days. This reverses a $11.24 million decline between May 24 and July 9.
Eaton Corporation, an international power management corporation, reported $6.35 billion in net sales for the second quarter of 2024, up 8.3% from the previous year. It continues to focus on providing energy-efficient solutions in over 175 countries, bolstering its reputation for dependable and sustainable power management.
Eaton’s stock has risen by more than 10%, from $272.52 on August 5 to $299.97. This rally has boosted the company’s market valuation to about $120 billion, resulting in enormous returns for stockholders.
Craig Arnold, one of the world’s top Black CEOs, owns 517,061 Eaton shares, or 0.13 percent of the company. His portfolio also includes a 0.0027 percent interest in Medtronic Plc, worth $3.14 million.
The recent increase in Eaton’s share price has increased the value of Arnold’s Eaton holdings by $14.19 million in the last 17 days, taking his investment in the worldwide power management firm from $140.91 million on August 5 to $155.1 million.
Eaton Corp. has been an outstanding performer on the NYSE for 2024. The company’s stock has risen 24.56 percent year to date, resulting in significant profits for investors. For example, a $100,000 investment made at the beginning of the year is now worth $124,560, representing a $24,560 increase.