Find a Car

Ford's Largest Private Investor Sheds 7.3 Million Shares

Follow Marty

Ford logo BEST

Ford logo BEST

Enlarge Photo
Las Vegas casino magnate Kirk Kerkorian has directed his company, Tracinda, to "reallocate its resources" by selling off 7.3 million shares of Ford stock at a huge loss. Specifically, the shares were sold at at an average of $2.43 per share. This is according to Detroit News today.

Claiming it hopes to find better success in the gaming, hospitality, and oil & gas industries, Tracinda announced it is considering selling the entirety of its stake in Ford Motor Company. It has 133.5 million shares left after this recent transaction.

Tracinda said it has had communications with an unnamed investment bank regarding the sale of its remaining shares in Ford.--Colin Mathews
Follow Us


Have an opinion?

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments

Have an opinion? Join the conversation!

Try My Showroom
Save cars, write notes, and comparison shop with hi-res photos.
Add your first car
Take Us With You!

© 2014 The Car Connection. All Rights Reserved. The Car Connection is published by High Gear Media. Stock photography by izmo, Inc. Send us feedback.