GameStop announced Thursday that billionaire Ryan Cohen will take over as the chief executive, chairman and president of the video game retailer effective immediately – and he will not draw a salary.
The billionaire entrepreneur, an idol of the meme-stock crowd who muscled his way onto the GameStop board, has taken a stake in Alibaba worth hundreds of millions of dollars.
Ryan Cohen , who built his fortune by co-founding online pet retailer Chewy Inc and cemented it with investments in videogame retailer GameStop and Apple Inc, reached out to Alibaba last August to express concerns, the people said.
Ryan Cohen's notice of proposed sale came to U.S. regulators in a paper form submitted over email, and it said the RC Ventures investment firm may sell up to nearly 7.8 million shares of Bed Bath & Beyond, along with options related to the stock, beginning Tuesday.