CEO of Liberty Global, Michael Fries gains nearly $12 million in 60 days
Feyisayo Ajayi
2 min read
American Businessman and CEO, Michael Thomas Fries, has witnessed a substantial surge in the market value of his stake in Liberty Global.
Over the past 60 days, Mike Fries’s stake has surged by nearly $12 million, driven by a significant uptick in the shares of the London-based international television and broadband company.
Data tracked by NewsOTG revealed that Mike Fries’s stake in Liberty Global has surged by $11.47 million in exactly 60 days as investors on the Nasdaq stock exchange continue to increase their stakes in the London-based Global group.
Liberty Global is a global leader in converged broadband, video, and mobile communications, investing in infrastructure, content, and technology ventures. With over 85 million fixed and mobile connections, Liberty Global is preparing its networks for 10 Gbps and beyond.
Liberty Global Ventures, its global investment arm, has a portfolio of over 75 companies and funds across content, technology, and infrastructure.
The affluent American businessman controls the London-based group, He is the Chief Executive Officer and Vice Chairman of Liberty Global, an international television and broadband company.
As one of the founding members of the management team that launched the Company’s international expansion, the multimillionaire owns a 1.29 percent beneficial stake in the global group which translates to 5,487,112 ordinary shares.
Since June 21, Liberty Global shares on the Nasdaq Stock Exchange have surged by 12.89 percent, climbing from $16.21 on June 21 to $18.30 at the time of writing, pushing the market capitalization to nearly $1 billion and thus leading to gains amounting to millions of dollars for its shareholders, including the affluent American businessman.
As a result of the double-digit percent surge in the global group’s share price, the market value of the stake held by the affluent businessman has climbed by $11.47 million in a span of 60 days, from $88.95 million on June 21 to $100.41 million at the time of writing.
This recent upswing solidifies Mike’s standing as one of the wealthiest investors in the London-based global group.
Fries has been recognized with honors including Ernst & Young’s Entrepreneur of the Year in Media, Entertainment, and Communications, Industry Leader of the Year by Digital TV Europe, and induction into the Broadcasting and Cable Hall of Fame and the Cable Hall of Fame.
