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One of the diluted shareholders, of course, is R2 Investments, whose stake is now around 2 or 3percentt.
France Télécom, whose stake is worth about FFr8 billion ($1.3 billion), will issue 50m new shares to pay for 2% of Deutsche Telekom, worth about FFr10 billion.
When Glencore floated in London, five of its partners became billionaires, but the biggest winner was Glencore's chief executive, Ivan Glasenberg, whose stake is worth £4bn.
The deal will trigger multimillion pound windfalls for many ARM board members, including the chief executive, Simon Segars, whose shares are worth more than £11m, and the chief operating officer, Mike Muller, whose stake is valued at £21m.
It is certainly good personally for the chief technology officer, Mike Muller, whose stake is valued at £21m, and Segars, who joined ARM in 1991 as its 16th employee and whose shares are now worth £11m.
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(The other major debt holder was Ronald Burkle's firm, the Yucaipa Companies, whose stake was somewhat smaller, though many believed Burkle was also keen to own Barneys).
The share price slump means that Glencore's boss, Ivan Glasenberg – whose stake was valued at around £6bn when the company floated – is no longer a paper billionaire on the basis of his Glencore stake alone.
The latest drop in Glencore's share price means that Glasenberg – whose stake was valued at around £6bn when the company floated – is no longer a paper billionaire on the basis of his Glencore stake alone.
But corporate insiders -- including co-founders like Evan Williams, whose stake was worth $1.5 billion before trading began, and Jack Dorsey, with a stake worth about $600 million -- will get even richer.
He bought into the Devils with several other investors, whose stakes are smaller than those of Chambers and Lewis Katz.
The only losers, of course, are the shareholders, whose stakes are diluted by the issuance of shares to retire the debt.
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Justyna Jupowicz-Kozak
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