According to The Times, secretive billionaire Kenneth Dart, who resides in the Cayman Islands, has once again increased his shareholding in British American Tobacco. Dart is one of the largest shareholders of the company.
Last week, there was a significant sell-off of shares in British American Tobacco. According to the latest information from the stock market documents, Kernot Investment’s stake has risen to 10%. The ability to increase its holdings is attributed to the substantial market volatility which proved advantageous for the investor.
Due to consumers shifting towards cheaper brands and even purchasing illicit cigarettes, the demand for the cigarette market is gradually shrinking. As BAT, a Fortune 100 index company, witnessed its stock price plummet by over 8%, reaching its lowest point in 13 years.
According to reports, Cornell is an American entrepreneur who became a billionaire in the early days through his investments in the plastic cutlery company, Dart Container Corporation. However, he also gained a reputation for being mysterious due to his extreme privacy and low profile in speculative activities. For a period of time, he chose to reside in the Cayman Islands to avoid media and public attention.
Cohnert has emerged as a key shareholder in British-American Tobacco (BAT), accumulating wealth through investments in the tobacco industry.