GameStop CEO Ryan Cohen, Who Is Trying to Buy eBay for $56 Billion, Says He Was Suspended From eBay
GameStop CEO Ryan Cohen’s audacious plan to acquire eBay for $56 billion has descended into chaos following a series of high-profile missteps. On May 3, GameStop announced its intent to buy the e-commerce giant with an offer combining cash and stock, immediately raising questions about how the company could finance such a massive acquisition.
Cohen’s efforts to address financing concerns have only amplified doubts about the deal’s viability. During a CNBC interview earlier in the week, he refused to answer substantive questions about his acquisition strategy, appearing dismissive when pressed for details—an exchange that went viral and significantly damaged his credibility.
Seeking to salvage the narrative, Cohen pivoted to a publicity stunt on X (formerly Twitter), announcing he was selling items on eBay itself to help finance the purchase. The listings included baseball cards, designer socks priced at over $14,000, and GameStop store signs at inflated prices. Each item came with a hand-signed “Letter to eBay” thanking supporters. However, the stunt backfired when Cohen’s account was suspended for reaching eBay’s $50,000 monthly sales limit and allegedly “putting the eBay community at risk.” Though the suspension was eventually lifted, the incident further undermined the seriousness of the proposal.
The entire saga has been widely characterized as a “clown show” by critics, with industry observers questioning whether Cohen has any realistic path to assembling the capital needed. The combination of evasive media appearances and an apparent comedic sales stunt has left little confidence in the deal’s legitimacy.