Most people may have never heard of Dave E. Shaw. However, followers of Wall Street almost certainly are familiar. Shaw is the founder and Chief Scientist of D.E. Shaw & Co., L.P.
More importantly are the returns he’s garnered for investors. Since the inception of his company in 1988, Shaw has consistently posted double-digit returns. Shaw’s company is now one of the largest hedge funds in the world with roughly $32 billion in managed assets.
According to SEC filings in August, Shaw is investing further into BlackBerry. Shaw has begun investing heavily in companies around the Internet of Things, commonly referred to as IoT: the connection of everyday objects from cars and refrigerators to the Internet.
BlackBerry announced they were positioning QNX in the IoT market with Project Ion. We’ve previously discussed how BlackBerry is a leap ahead of the competition in the field. Given this knowledge, Shaw is betting big and has nearly doubled the size of his stake in BlackBerry.
As of June, the billionaire investor owns 4.5 million shares of the company valued at around US$45.8 million. Indeed it seems Shaw has faith in BlackBerry’s new CEO John Chen, who recently emphasized, “while there are 5 billion handsets in the world that we want to connect to, there may be 500 billion devices out there that present a tremendous opportunity for an organization with the experience and track record of QNX.”