advertisement
advertisement

“Big Tech” foe George Soros just stocked up on Tesla, Amazon, and Netflix

“Big Tech” foe George Soros just stocked up on Tesla, Amazon, and Netflix
[Photo: Niccolò Caranti/Wikimedia Commons]

George Soros just gave Elon Musk and Jeff Bezos some of his hard-earned cash.

Well, sort of: The Soros Fund Management bought $35 million worth of Tesla’s convertible notes, a.k.a. bonds that can be converted into a specified number of common stock in March 2019, per CNBC. Tesla isn’t the only stock that Soros added to his shopping cart, according to an SEC filing released on Tuesday. The Soros Fund Management bought 51,200 shares of Amazon, worth $74.1 million, in a three-month period that ended March 31. It was an interesting pickup, because Soros dumped all of his Amazon stock in late 2017.

Soros’s fund also loaded up on 20,800 Alphabet shares (even after denouncing Google) and Netflix, adding another 148,500 shares in the first quarter of this year to its already substantial Netflix holdings. To make space for all its shiny new holdings, Soros cleared out some clutter—he dumped 34,100 shares of Twitter.

That’s a lot of tech stocks for a man who denounced Facebook and Google as a “menace” to society whose “days are numbered” and whose Open Society Institute is “examining new ways” to tackle the growing power of tech giants.

advertisement
advertisement