GameStop CEO donates $35 billion bonus for eBay: a new twist in corporate drama
An event has occurred in the world of corporate finance that has attracted the attention not only of traditional investors but also of the entire crypto community. GameStop CEO Ryan Cohen made an unprecedented decision — he declined a potential bonus of $35 billion. This move is directly linked to the company's ambitious plan to acquire eBay.
Initially, the GameStop board of directors approved a bonus program for Cohen back in January 2026. The conditions for receiving the payout were extremely ambitious: the company's market capitalization had to reach $100 billion, and its cumulative EBITDA had to reach $10 billion. However, after GameStop announced its intention to buy eBay at $125 per share, Cohen personally asked the board to remove the vote on his bonus from the agenda. The board granted this request, filing a corresponding notice with the SEC.
Focus on the Deal
Cohen stated that the company must be "fully focused" on efficiency and the eBay deal. Declining the bonus is a powerful signal to the market that GameStop's future now directly depends on the successful acquisition of eBay. It also removes potential corporate governance questions ahead of the annual shareholder meeting scheduled for July 7.
The conflict between the parties is escalating. The eBay board of directors has already called GameStop's offer "unconvincing and unattractive" and rejected it. In response, Cohen publicly criticized eBay's $2.4 billion marketing expenses and also pointed out the platform's inconvenience. eBay, in turn, blocked Cohen's trading profile, moving the corporate dispute into the public domain.
The Market Has Doubts
On the Polymarket platform, the probability of the deal closing is estimated at only 14%. Market participants largely do not believe that the eBay board of directors will sit down at the negotiating table. Meanwhile, GameStop shares (GMEX) are trading at $21.16, up 0.64% over the day.
My analysis: Cohen's refusal of $35 billion is not altruism, but a tough, pragmatic move. It clearly signals to shareholders and eBay management that he is determined and ready to see this through. GameStop's upcoming presentation this week will be a key moment: it will show whether the deal has a real chance of success or if it is just another loud but unpromising initiative.