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He continued his strategy of acquiring large stakes in major companies, making significant changes to their management, and forcing them to sell either in parts or as a whole.
Icahn always emphasizes that he does not liquidate companies, but if it does happen, is it really such a terrible thing? Icahn is a trustee at Mount Sinai Hospital.
Icahn's foundation, the Children's Rescue Fund, built Icahn House in The Bronx, a 65-unit complex for homeless families.
The mission of the schools is based on the belief that all students deserve a rigorous academic program through which they will increase their capacity to learn. He attended Far Rockaway High School.
Carl Icahn graduated from Princeton University with an A.B. in philosophy in 1957.
His articles have been featured in various publications, covering topics such as investment funds and their role in shaping the global financial landscape.
View Wilbur's ProfileCarl Icahn
As a leading shareholder activist, Carl Icahn’s efforts have unlocked billions of dollars of shareholder and bondholder value and have improved the competitiveness of American companies.
He's also not afraid to publicly shame companies, as he did with eBay in 2014, calling it one of the worst-run companies he'd ever seen.
One notable example of Icahn's success came when he took a major stake in Herbalife and got two of his representatives on the board, outmaneuvering fellow billionaire Bill Ackman.
Carl Icahn made a $100 million investment in Lyft on May 15, 2015.
In November 2015, Icahn hired CBRE Group to market the unfinished Fontainebleau Las Vegas to potential buyers.
After completing his studies at the university, Icahn followed his mother's request and enrolled in a medical educational institution in New York. The public spat between the two investors was widely covered in the media.
Beyond the boardroom and stock trading platforms, Icahn, like all of us, has a personal life. His story serves as a testament to the power of perseverance, intelligence, and strategic thinking.
Whether you're an investor looking to decode the secrets behind the Icahn Enterprises stock's performance or a business enthusiast keen on understanding the workings of great minds, Icahn's story offers valuable lessons.
He also increased his stakes in Navistar International and Herbalife Nutrition.
In May 2020, Icahn sold his entire 39% stake in Hertz Global for 72 cents a share, losing almost $2 billion on the investment.
Icahn nominated two people for election to McDonald's board of directors in February 2022, aiming to pressure the company to improve conditions for pigs raised by its suppliers.
Only 1% of McDonald's shareholders voted in favor of Icahn's nominees in May 2022, scoring a victory against his demands.
Activist investors can be a force to be reckoned with, as Carl Icahn's impact on Apple shows.
Google took steps to prevent activist investors like Icahn from taking control of the company by introducing a new C-class of shares with no voting power.
Activist investors often take positions in stocks with the intention of increasing the share price, which is a positive sign for existing shareholders.
However, this doesn't guarantee success, as seen in Icahn's $100 million investment in Lyft, which didn't seem to pay off as expected.
Icahn's investment in Lyft was just one of many in 2015, as he also acquired a 7.13% stake in Xerox and offered to acquire Pep Boys.
In 2017, Icahn sold the unfinished Fontainebleau Resort Las Vegas for $600 million, more than four times what he paid.
Activist investors can also be involved in high-profile proxy fights, as seen in Icahn's nomination of two people for election to McDonald's board of directors in 2022.
However, Icahn's demands for McDonald's to improve conditions for pigs raised by its suppliers were rejected by 99% of shareholders, with only 1% voting in favor of his nominees.
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He also funded the Icahn Medical Institute Building at Mount Sinai Hospital and the Institute of Genomics, a genomics and multi-scale biology research program. Some have referred to Icahn as a "corporate raider" or "imperial shareholder," as his main goal has always been to generate short-term profits by any means necessary.
Early Life and Education
Carl Icahn was born and raised in New York, United States.
With a strong background in research and analysis, he brings a unique perspective to his writing, making complex topics accessible to a wide range of readers. Icahn House was created to serve single pregnant women and single women with children. In 2012, in recognition of Carl’s gift of $200 million, the Mount Sinai School of Medicine was renamed the Icahn School of Medicine at Mount Sinai and the Institute of Genomics was renamed the Icahn Genomics Institute.
His senior thesis was titled "The Problem of Formulating an Adequate Explication of the Empiricist Criterion of Meaning."
He later entered New York University School of Medicine, but dropped out after two years to join the Army Reserve.
Carl Icahn's business career is a testament to his shrewd investment strategies and deal-making prowess.
He endorsed Donald Trump in the 2016 presidential election and formed a super PAC pledging $150 million to push for corporate tax reform.
Icahn's influence in the Trump administration was significant, as he was initially considered for the role of United States Secretary of the Treasury. This deal showcased his ability to navigate complex business transactions.
In April 2009, Icahn engaged in a proxy battle for Amylin, a move that highlighted his commitment to taking an active role in the companies he invests in.
In May 2010, Carl Icahn acquired a 6.9% stake in Mentor Graphics, which he later increased to 14% in July.
Icahn's investment in Mentor Graphics was not without its challenges, as the company retaliated with a shareholder rights plan in an attempt to deter him.
By April 2013, Icahn had accumulated a 9.2% stake in Nuance Communications.
Icahn's efforts to acquire Nuance Communications were likely driven by the company's significant growth potential in the speech recognition and transcription markets.
In August 2013, Icahn sued Dell and its board in an attempt to derail a $24.4 billion buyout bid by CEO Michael Dell, opting instead for his own rumored bid.
Icahn's lawsuit against Dell was a bold move, but ultimately unsuccessful.
In October 2013, Icahn held 4.7 million shares of Apple Inc., which he would later sell in April 2016 due to concerns about Apple's relationship with China.
That same month, Icahn acquired around 61 million shares in Talisman Energy, leading to a surge in the share price.
Icahn's investment in Talisman Energy was a savvy move, as it allowed him to capitalize on the company's growth potential in the oil and gas industry.
In November 2013, he acquired a 12.5% interest in Hologic, a medical device and diagnostics manufacturer.
Icahn's acquisition of Hologic was a strategic move, as it allowed him to tap into the company's growing demand for medical devices and diagnostics.
In January 2014, Icahn pushed eBay to complete the corporate spin-off of PayPal, starting a proxy fight that was eventually settled by April.
Icahn's efforts to push for the PayPal spin-off were likely driven by his desire to unlock value for eBay shareholders.
In January 2016, Icahn disclosed a 4.66% stake in Gannett Company, as well as shares in Cheniere Energy and Freeport-McMoRan, both of which declined in value.
Icahn's investments in Cheniere Energy and Freeport-McMoRan were likely affected by the decline in oil prices during this period.
Carl Icahn is known for his high-profile activism in the corporate world.
Icahn Enterprises has a presence in a variety of industries, from real estate to energy and automotive components. She later married Carl and eventually rose to the position of Vice President within the company. Interestingly, Gail began her career as an assistant at Icahn Enterprises. However, he was instead nominated as special advisor to the president on regulatory reform.
As special advisor, Icahn played a key role in shaping policy, including the imposition of a 25% tariff on steel imports, which helped him avoid a $6 million loss on his steel-price sensitive stock.
Icahn's business interests were not affected by his role as special advisor, as he did not have specific duties and was not a federal employee.
His influence was also seen in the consideration of Scott Pruitt's nomination as Administrator of the Environmental Protection Agency, during which Icahn specifically asked Pruitt about his position on the EPA's Renewable Fuel Standard.
Icahn's proposal to change the ethanol rule would have saved CVR Energy, in which he has 82% ownership, $205.9 million a year.
CVR Energy's stock doubled after President Trump's election, increasing $455 million in value, thanks in part to President Trump's decision to expand the tax advantage of master limited partnerships.
Icahn has made significant contributions to various institutions, including Princeton University, where he funded a genomics laboratory, the Carl C.
Icahn Laboratory.
He also made large contributions to Mount Sinai Hospital, which named a building the Icahn Medical Institute and renamed the Mount Sinai School of Medicine as the Icahn School of Medicine at Mount Sinai.
The Icahn Genomics Institute, led by Brian Brown, PhD, was renamed after his contribution.