Mubadala Lost Over $22.4B, now they are hoping the public bails them out with a GF junk stock sale. Only a massive layoff can help this company now. Hope it happens.
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It will be interesting to see how Mubadala exits out of ownership of GF. The market cap of GF even at $50/share is around $30B given there are aprox 600M outstanding shares. Now even if Mubadala still owns 80% which i don't think they do that would be $24B they would get from selling off GF. Mubadala has invested at least $25B and for the first 10 years or so GF lost aprox $1B per year so overall they have invested at least $35B. Yes, GF has been paying back dividends or however you want to look at it back to Mubadala like aprox $500M per year the past few years. However, Mubadala is still invested in GF over $30B. Selling off at $24B they would sustain a big loss. So, the exit strategy for Mubadala will be very interesting, the strategy of just cutting costs and outsourcing everything isn't working the market cap is shrinking instead of growing.