Billionaire Stanley Druckenmiller Owns $175 Million of This Brilliant Dividend Growth Stock
It can pay to follow billionaire fund manager Stanley Druckenmiller, who has put up phenomenal market-beating returns for decades. One of the largest positions in his Duquesne Family Office is Philip Morris International (NYSE: PM). He owns $175 million worth of the stock, first purchased in the second quarter of 2024. Since then, shares have posted a total return of more than 100% as investors have gotten excited about the company's growth with new nicotine brands that are replacing cigarettes. Here's the brilliance behind Philip Morris' strategy, and why this is the perfect dividend growth stock over the next 10 years.Spun out as an independent company almost two decades ago, Philip Morris International is one of the leading tobacco companies that sells outside of the United States, while Altria Group sells its brands domestically.Continue reading
It can pay to follow billionaire fund manager Stanley Druckenmiller, who has put up phenomenal market-beating returns for decades. One of the largest positions in his Duquesne Family Office is Philip Morris International (NYSE: PM). He owns $175 million worth of the stock, first purchased in the second quarter of 2024. Since then, shares have posted a total return of more than 100% as investors have gotten excited about the company's growth with new nicotine brands that are replacing cigarettes.
Here's the brilliance behind Philip Morris' strategy, and why this is the perfect dividend growth stock over the next 10 years.
Spun out as an independent company almost two decades ago, Philip Morris International is one of the leading tobacco companies that sells outside of the United States, while Altria Group sells its brands domestically.
