Billionaire Usmanov Purchases $100 million Stake in Apple

Alisher Usmanov / Getty

Alisher Usmanov / Getty

/ By Yael Segev /

Apple Inc. surely needed this vote of confidence: Aisher Usmanov, The Russian oligarch recently declared as the richest man in his homeland as well as in the UK, has notified that he bought Apple shares worth $100 million. According to Usmanov, this was the perfect time for acquiring the company’s stocks, who lost almost 40% of their value since last September.

 

This could be the breakout point after almost 2 difficult years, since the absence of the legendary founder and CEO, Steve Jobs. The current CEO, Tom Cook, appointed after Jobs had to leave his office due to his physical condition, could not duplicate the success. Lately, there have been more and more voices calling to replace him.

 

According to Forbes, Usmanov, who has almost $20  billion in the bank, is able to afford the bet on the company’s future success. However,   For many investors, it seems that Apple may have reached its peal profitability, concerning the growing competition with Samsung Electronics.

Usmanov has performed the acquisition through USM Holdings, which he controls . “I believe in the future of this company even after Steve Jobs, ”, told the billionaire to Bloomberg’s Moscow office, and added: “When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound.”

 

READ HERE MORE ABOUT USMANOV

 

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