New filing shows that billionaire Daniel Seth Loeb bought 10 million shares of BlackBerry (BBRY) in Q4, at a total value of $74.4 million. Dan Loeb is an American hedge fund manager. He is the founder and chief executive of Third Point LLC, a New York-based hedge fund with a portfolio worth $14 billion.
Loeb’s “preferred strategy” is to buy into troubled companies, replace inefficient management, and return the companies to profitability, which “is the key to his success.” As of early 2013, Loeb’s personal net worth was $1.5 billion. “The only thing I care about,” he has said, “is making money for my investors.”
BBRY share closed at $US8.98 today, but are up 3% in after-hours trading.