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Kerkorian buys in
Kerkorian buys in
Kirk Kerkorian
2006

In early 2006, billionaire investor Kirk Kerkorian buys almost 10% of GM's stock, becoming the company's largest individual shareholder. Kerkorian, although claiming to be a "passive investor," pressures chief executive officer Richard Wagoner to sell a 20% stake of the company to rivals Nissan and Renault, reduce the number of brands, cut costs, and improve product designs. Once alliance talks fail, Kerkorian sells his 56 million shares for little to no profit.

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Last updated November 25 2008: 7:53 AM ET
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