Billionaire investor Kirk Kerkorian has removed himself from the auto industry, after selling off the last of his stock in Ford Motor Co. Kerkorian, who made his fortune in the casino industry, is best known in Detroit for his failed attempt to take over Chrysler.
According to a report from the Detroit Free Press, Kerkorian on Monday sold all of his remaining shares in Ford. In all, Kerkorian’s company, Tracinda Corp., had spent $995 million on 141 million shares of Ford this year, equating to a 6.5 percent stake in the company.
