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2024-09-22 08:21:10

Carl Icahn

American businessman, investor, and philanthropist.
American businessman, investor, and philanthropist.

Carl Celian Icahn, founder of Icahn Enterprises, is known for his activist shareholder approach in companies. With a net worth of $6.7 to $7 billion, he gained fame in the 1980s for his hostile takeover of Trans World Airlines.

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Birth of Carl Icahn

Carl Icahn, the renowned investor and business magnate, was born in 1234.

1936-02-16
Birth of Carl Icahn

Carl Celian Icahn, an American businessman, investor, and philanthropist, was born in Brooklyn to an Ashkenazi Jewish family.

1957
Graduation from Princeton University

Carl Icahn graduated from Princeton University with an A.B. in philosophy in 1957 after completing a senior thesis titled 'The Problem of Formulating an Adequate Explication of the Empiricist Criterion of Meaning.'

1961
Carl Icahn founds Icahn and Company

In 1961, Carl Icahn established his own brokerage firm, Icahn and Company, using a $400,000 loan from his uncle.

1968
Foundation of Icahn and Company

In 1968, Carl Icahn borrowed $400,000 from an uncle to purchase a seat on the New York Stock Exchange for Icahn and Company, his new brokerage firm. This marked the beginning of his career in the stock market.

1978-08
Icahn meets Liba Trejbal

In the summer of 1978, Carl Icahn, then 41 years old, met Liba Trejbal, a 28-year-old ballerina from the former Czechoslovakia. Their relationship led to marriage and two children.

1979
Carl Icahn's Victory at Tappan Company

In 1979, Carl Icahn achieved his first victory at the Tappan Company by winning a seat on the board and orchestrating the sale of the kitchen stove maker, resulting in a $3 million profit.

1984
Battle between Pennzoil and Texaco over Getty Oil

In 1984, Carl Icahn got involved in the battle between Pennzoil and Texaco over Getty Oil. He accumulated more than 13% of Texaco's stock but failed to take control of the board. However, he profited when the dispute was resolved, leading to an increase in Texaco's share price and bringing Icahn a significant financial gain.

1985
Carl Icahn takes over TWA

In 1985, Carl Icahn acquired control of Trans World Airlines (TWA), a company previously owned by Howard Hughes. He then initiated a series of strategic moves to expand the airline's operations.

1986-10
Hostile Takeover Bid for U.S. Steel

In October 1986, Carl Icahn launched an unsuccessful $8 billion hostile takeover bid for 89% of U.S. Steel, which was later dropped in January 1987.

1988
TWA goes private under Icahn's leadership

In 1988, Carl Icahn orchestrated a $650 million stock-buyback plan to take TWA private, allowing him to recoup most of his initial investment but burdening the company with significant debt.

1989-06
Sale of Stake in Texaco

In June 1989, Carl Icahn sold his stake in Texaco for $2 billion, making a profit of $700 million, marking the largest share sale on the New York Stock Exchange at that time.

1990
Purchase of American Real Estate Partners (AREP)

In 1990, Carl Icahn purchased shares in American Real Estate Partners (AREP) and gradually took control of the company, making it his investment vehicle. This marked a significant move in his financial ventures.

1991
Icahn's Influence on USX

In 1991, Carl Icahn successfully influenced USX to spin off its steelmaking operations and concentrate on the petroleum business through Marathon Oil by utilizing his strategy of buying a significant amount of shares and nominating his own directors.

1993
Carl Icahn leaves TWA

Following TWA's bankruptcy filing in 1992, Carl Icahn departed from the company in 1993, ending his tenure marked by controversial decisions and financial challenges.

1994
Investment in Western Company of North America

In 1994, Carl Icahn took a 6.6% interest in Western Company of North America during its acquisition by BJ Services.

1997-02
Sale of Interest in RJR Nabisco

In February 1997, Carl Icahn sold his 7.3% interest in RJR Nabisco for a $125 million profit.

1997-06
Acquisition of Marvel Comics

In June 1997, Carl Icahn took control of Marvel Comics in a rivalry with Ronald Perelman.

1998-03
Bid for Pan Am

In March 1998, Carl Icahn made another bid for Pan Am, offering $43 million.

1998-12
Investor Group Acquisition of Stake in RJR Nabisco

In December 1998, Carl Icahn led an investor group that acquired a 5% stake in RJR Nabisco and pushed for the separation of its tobacco and food units.

1999
Icahn marries Gail Golden

In 1999, Carl Icahn married his longtime assistant and former broker, Gail Golden, who had two children from a previous marriage.

2001-07
Lending to Genesisintermedia

In July 2001, Carl Icahn's Riverdale, LLC lent Genesisintermedia $100 million and obtained options to purchase 5.5 million shares of the company.

2004
Formation of Icahn Partners

In 2004, Carl Icahn began raising $3 billion to establish Icahn Partners, a hedge fund, and acquired ownership stakes in Blockbuster Video and Time Warner.

2005
XO Communications sells wired business to Icahn

In 2005, XO Communications announced the sale of its wired business for $700 million to Icahn. The transaction aimed to pay off debts and repurchase preferred stock from Icahn, who would then own the wired business outright while retaining a 60% stake in XO.

2006-08
Icahn buys stock in Take-Two Interactive

In August 2006, Icahn purchased stock in Take-Two Interactive, a video game publisher. Over the next few years, he increased his holdings to 11.3%, making him the company's second-largest shareholder.

2007-02-09
Lear Corporation accepts takeover offer from Icahn

On February 9, 2007, Lear Corporation's board of directors approved a $2.3 billion takeover bid from Icahn, solidifying his acquisition of the company.

2008-03
Lawsuit Against Motorola

In March 2008, Carl Icahn sued Motorola in an attempt to gain four seats on the board and push for the sale of its mobile business.

2008-05
Purchase of Shares in Yahoo!

In May 2008, Carl Icahn bought a significant amount of shares in Yahoo! and threatened a proxy fight to remove the board after they rejected a bid from Microsoft.

2008-06
Launch of The Icahn Report

In June 2008, Carl Icahn started a blog called The Icahn Report.

2008-12
Lawsuit Against Realogy

In December 2008, Carl Icahn filed a lawsuit against Realogy over a proposed debt swap.

2009-04
Proxy Battle for Amylin

In April 2009, Carl Icahn engaged in a proxy battle for Amylin.

2009-09
Offer for XO Shares

In September 2009, Carl Icahn offered to buy the remaining shares of XO he did not own, initially at $0.55 each.

2009-10
Resignation from Yahoo! Board

In October 2009, Carl Icahn resigned from the board of directors at Yahoo! and reduced his equity stake significantly by the following February.

2010-02
Acquisition of Fontainebleau Las Vegas

In February 2010, Carl Icahn, through a subsidiary of his Icahn Enterprises LP, acquired the Fontainebleau Las Vegas for about $150 million.

2010-03
Purchase of Tropicana Casino & Resort Atlantic City

In March 2010, Carl Icahn was part of a group of lenders who purchased Tropicana Casino & Resort Atlantic City, bringing the company out of bankruptcy for $200 million.

2010-05
Purchase of Stake in Lawson Software

In May 2010, Carl Icahn announced the purchase of an 8.54% stake in Lawson Software.

2010-07
Increase in Stake in Mentor Graphics

In July 2010, Carl Icahn increased his stake in Mentor Graphics from 6.9% to 14% despite the company's failed retaliation with a shareholder rights plan.

2011-01
Offer to Buy Clorox

In January 2011, Carl Icahn offered to buy Clorox for $10.2 billion and by February he had accumulated a 9.08% stake in the company.

2011-02
Unsuccessful Offer to Buy Mentor Graphics

In February 2011, Carl Icahn made an unsuccessful offer to buy Mentor Graphics for about $1.86 billion in cash.

2011-03
Failed Takeover Bid for Lionsgate Films

In March 2011, Carl Icahn conducted a failed takeover bid for Lionsgate Films.

2012-10
Reported Stake in Netflix

In October 2012, Carl Icahn reported a 10% stake in Netflix.

2012-11
Attempt to Gain Control of Oshkosh Corporation

In November 2012, Carl Icahn tried to gain control of the board of directors of Oshkosh Corporation.

2012-12
Carl Icahn's involvement in Herbalife stock price

Carl Icahn, a rival of Bill Ackman, intervened in the situation by supporting Herbalife, causing the company's shares to increase in value after the initial drop triggered by Ackman's accusations.

2013-08-02
Carl Icahn sues Dell

In 2013, Carl Icahn filed a lawsuit against Dell, aiming to obstruct a takeover offer led by CEO Michael Dell.

2014-01
Icahn's Investments in Apple Inc. and eBay

In January 2014, Carl Icahn invested half a billion dollars in Apple Inc. and pressured eBay to spin off PayPal, leading to a proxy fight that was resolved by April.

2014-10
Icahn's Investment in Talisman Energy

In October 2014, Carl Icahn invested in Talisman Energy, but later sold his shares after the company's stock price plummeted by 71%.

2015-05-15
Carl Icahn invests in Lyft

On May 15, 2015, Carl Icahn invested $100 million in Lyft, a popular ride-sharing service, showing his interest in the tech and transportation industry.

2015-08-01
Investor Presentation

An investor presentation that took place on August 1, 2015, providing information and insights to potential investors.

2016-12-21
Carl Icahn becomes Special Advisor to the President

On December 21, 2016, Carl Icahn was appointed as the Special Advisor to the President on Regulatory Reform by President Donald Trump, showcasing his influence in political circles.

2017-11-06
Carl Icahn loses nearly $2 billion after firm's stock price plummets 25%

On November 6, 2017, Carl Icahn faced a significant loss of nearly $2 billion when the stock price of Icahn Enterprises plummeted by 25%.

2018-05-29
SandRidge Presentation

A presentation dated May 25, 2018, related to SandRidge, a company or project that was discussed or presented.

2018-11-12
DELL’S OFFER TO BUY DVMT SHARES AT A 42% DISCOUNT

An open letter criticizing Dell's offer to buy DVMT shares at a 42% discount, urging shareholders to reject the offer.

2020-05
Sale of Hertz Global Stake

In May 2020, Carl Icahn sold his entire 39% stake in Hertz Global for 72 cents a share, resulting in a substantial loss of almost $2 billion on the investment.

2021
Carl Icahn presses McDonald's for new commitments on pork suppliers

Carl Icahn has urged McDonald's to require all pork suppliers to stop using crates within certain deadlines. McDonald's believes this request goes against industry standards and could impact their ability to offer quality products at affordable prices.

2022-02
Nomination for McDonald's Board of Directors

In February 2022, Carl Icahn, holding 200 shares of the company, nominated two people for election to McDonald's board of directors, potentially initiating a proxy fight to pressure McDonald's to improve conditions of pigs raised by its suppliers.

2022-04
Icahn accuses company of failing commitment to eliminate gestation crates

In April 2022, Carl Icahn accused a company of not fulfilling its promise to stop using cruel gestation crates in its supply chain. He urged McDonald's shareholders, especially ESG-focused asset managers, to support his board nominees.

2022-05
McDonald's Shareholders Vote on Icahn's Nominees

In May 2022, only 1% of McDonald's shareholders voted in favor of nominees put forward by Icahn, leading to a victory against his demands for improving pig-raising conditions. McDonald's stated that they were already moving towards a more humane approach since 2012, deeming Icahn's demands unreasonable.

2023-05
Hindenburg Research Analysis on Icahn Enterprises

In May 2023, Hindenburg Research released an analysis claiming that Icahn Enterprises was over-valued due to large dividends funded by new investors. The analysis also highlighted Icahn's loans against his holdings, leading to a 20% drop in Icahn Enterprises' share price.

2023-08
Carl Icahn's Net Worth Reaches $7.8 Billion

As of August 2023, Carl Icahn's net worth is reported to be $7.8 billion. This showcases his continued success and financial growth over the years.

2024-01-02
Carl Icahn FAQs

An article written by Lenny Lubitz, a pen name of an Investopedia contributor, providing information about Carl Icahn, including his background, accomplishments, and frequently asked questions.

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Carl Icahn
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