Gail icahn
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Carl Icahn
American businessman and financier (born 1936)
Carl Icahn | |
|---|---|
Icahn at a conference in the 1980s | |
| In office January 20, 2017 – August 18, 2017 | |
| President | Donald Trump |
| Born | Carl Celian Icahn (1936-02-16) February 16, 1936 (age 89) New York City, U.S. |
| Spouses | Liba Trejbal (m. 1979; div. 1999)Gail Golden (m. 1999) |
| Children | 2, including Brett |
| Relatives | Rick Schnall (nephew) |
| Education | Princeton University (BA) |
| Occupation | Businessman, investor, philanthropist |
| Known for | Founding and Managing Icahn Enterprises Leadership of Federal-Mogul 1980s "corporate raider" |
| Signature | |
| Website | carlicahn.com |
Carl Celian Icahn (; born February 16, 1936) is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, Florida. Icahn's business model is to take large stakes in companies
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Carl Icahn: man, investor, legend
Name: Carl Celian Icahn
Date of birth: 16/02/1936
Net worth: $16.7B
Starting point: Carl Icahn, the only child in his family, was born in Queens, New York.
High point:
His parents were teachers. He graduated from Princeton University with a Bachelor of Arts degree in philosophy in 1957. Then he enrolled in New York University School of Medicine.
Low point:
He dropped out of it after two years of studies.
High point:
With the help of the funds from his uncle and his own funds, he established his firm, Icahn & Co., that focuses on risk arbitrage and options trading in 1968.
In 1978, he began taking control of the voting rights in individual companies.
Low point:
Slowly but steadily, he gained the reputation of a “corporate raider” - a person who uses their company shares to influence a company’s management.
He was also accused of “green mailing” several times - he threatened a company’s management to repurchase the shares at
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Who Is Carl Icahn?
Carl Icahn is one of Wall Street's most successful figures. In the 1980s, this corporate raider—using Drexel Burnham's junk bonds—became known as a vulture capitalist, taking positions in public companies and initially demanding extreme changes in their corporate leadership and management styles. Often, targets paid him "greenmail" money, with the stipulation that he would step away from his target.
By the end of the 20th century, his reputation changed, as he became a shareholder activist. Investors followed his lead and bought into the businesses he set his focus upon. The increase in stock price caused by the anticipation that Icahn would uncover shareholder value became known as the "Icahn lift".
Key Takeaways
- Carl Icahn is a billionaire investor who adopted the contrarian investment strategy of buying stocks that "no one wants."
- Icahn argues that most CEOs are overpaid and that their salaries are not comparable to shareholder returns.
- To deliver value to shareholders, Icahn purchases a large number of a corporation's shares and the
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