Why Did Billionaire Israel "Izzy" Englander More Than Double His Stake in AbbVie Stock and Start a Position in SpaceX Stock?
Billionaire investor Israel Izzy Englander, founder of Millennium Management hedge fund, has significantly increased his holdings in two companies. He recently acquired a substantial position in SpaceX stock, investing $3 billion through the purchase of 17.6 million shares. Additionally, Millennium added 840,718 shares to its existing stake in pharmaceutical company AbbVie, more than doubling its ownership to 1.5 million shares, valued at approximately $380 million.
AbbVie specializes in a range of treatments for various health conditions, including skincare, digestive issues, autoimmune diseases, age-related health concerns, and cancers. Its Skyrizi and Rinvoq products generated significant net sales during the first half of 2026. Despite AbbVie's current high valuation, Englander's increased investment demonstrates confidence in the company's growth potential.
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