GameStop CEO Abandons $35bn Bonus To Focus On Buying eBay

Key Points:

• Ryan Cohen, CEO of GameStop, initially took no salary but was offered a $35 billion performance award in January 2026 if he could increase the company’s value tenfold; however, he is now abandoning this bonus to focus on acquiring eBay.
• Cohen’s plan to buy eBay was quickly rejected by eBay as “neither credible nor attractive,” yet Cohen insists on pursuing the acquisition while claiming it will help GameStop’s operating performance.
• GameStop’s first-quarter 2026 results showed a profit and some short-term improvement, but these gains came at the cost of numerous store closures, job losses, and staff dissatisfaction, with little impact on share prices.
• The GameStop board noted that the CEO Performance Award was approved before the decision to pursue eBay, and Cohen’s rationale for dropping the award to focus on the acquisition remains unclear and controversial.
• Further details on the proposed eBay acquisition, including strategic and operational plans, are expected soon, though skepticism remains about how GameStop could afford to buy a company worth significantly more.