Masimo's billionaire CEO put shares on margin to get cash while keeping ownership ahead of proxy fight
MASIMasimo(MASI) CNBC·2024-05-02 04:05

Billionaire Masimo founder Joe Kiani, best known for his successful legal fight against Apple and his friendship with President Joe Biden, has borrowed against half of his $660 million stake in the health- technology company rather than sell his stock, according to corporate filings from earlier this week. Borrowing against that much of a stake is unusual for executives, but may be helpful as the company prepares for a fight with an activist aiming to take control of the board. The move allows Kiani, the co ...