Carl Icahn Biography, Age, Assets, Wife, Houses, Career & Net Worth

American investor Carl Icahn was born on February 16, 1936. Icahn Enterprises, a public firm and multinational conglomerate holding company with offices in Sunny Isles Beach, is a company he founded and controls. Icahn invests heavily in businesses that he thinks will benefit from changes in company policy and then exerts pressure on management to implement such changes.

He is credited with popularising that investment technique for hedge funds as one of the first activist shareholders. Icahn gained notoriety as a “corporate raider” in the 1980s after making money off the aggressive takeover and asset looting of Trans World Airlines. Since 2011, Icahn no longer manages money for outside clients, although investors can invest in Icahn Enterprises.

Carl Icahn Bio/Wiki

Birth Name	Carl Celian Icahn
Nick Name	Corporate Raider
Age	87 years (as in 2023)
Religion	Jewish
Sun Sign/Zodiac Sign	Pisces
Birth Place	New York City, U.S.
Date of Birth	16 February 1936
Nationality	American
Hobbies	Playing Golf
Family
Mother's Name	Bella
Father's Name	Michael Icahn
Brother	None
Sister	None
Girlfriends/Affairs
Affairs/Girlfriends	NA
Marital Status, Wife and Children
Wife/Spouse
Children	Brett Icahn, Michelle Icahn
Education
School	Rockaway High School.
College/University	Princeton University
Profession	Inverstor and financer
Height, Weight, and Figure Measurements
Height (Approx.)	176cm
Weight (Approx.)	82kgs
Extra Ordinary Features
Race / Ethnicity	American
Hair Color	White
Eye Color	Blue
S*xual Orientation	Straight
Favourite Things
Favourite Food	Mexican
Favourite Book	The Intelligent Investor
Favourite Colors	Red
Favourite Sport	Horseriding
Controversies	NA

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Early Life

As an only kid, Icahn was. His father was a lawyer, a Jewish cantor, and both of his parents were educators.  Before quitting his medical studies at New York University and enlisting in the US Army, he was a student there. He joined the Dreyfus Corporation as a stockbroker after being discharged.

He left Dreyfus in 1963 and started working as a stock options trader at Tessel, Patrick, and Company. He moved to Gruntal & Co. a year later and kept trading options there. Icahn was born to an Ashkenazi Jewish household in Brooklyn.  Bella (née Schnall), his mother, was a schoolteacher as well.

Icahn wrote a senior thesis titled “The Problem of Formulating an Adequate Explication of the Empiricist Criterion of Meaning” and earned an A.B. in philosophy from Princeton University in 1957. His next step was to enrol at the New York University School of Medicine, but after two years he left to join the military reserve.

The Jewish family of Michael and Bella Icahn welcomed Carl into the world on February 16, 1936, in New York City, New York, in the United States. His mother taught in a school, while his atheist father was a cantor who eventually filled in as a teacher. 

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Carl Icahn Education

He was reared in New York City’s Far Rockaway, Queens neighbourhood, and went to Far Rockaway High School. Michael Icahn, his father, and a “sworn atheist,” served as a cantor and afterwards as a substitute teacher. Icahn earned a B.A. in philosophy from Princeton University in 1957.

He attended Princeton University and Far Rockaway High School while pursuing his education. In 1957, he graduated from Princeton University with a Bachelor of Arts in philosophy. By his mother’s wishes, he enrolled at the “New York University School of Medicine,” but after two years, he departed to enlist in the US army.

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Personal Life

Icahn, who was 41 at the time, met Liba Trejbal, a ballerina from former Czechoslovakia when she was 28 years old. Eight months later, she discovered she was pregnant, and Icahn proposed marriage if she agreed to a prenuptial agreement. They tied the knot in March 1979. Liba filed for divorce in October 1993 and then launched a lawsuit to have the prenuptial agreement declared void, alleging that she was forced to sign it because she was pregnant.

A divorce settlement was reached in July 1999. Brett Icahn and Michelle Celia Icahn Nevin are their two children. Rick Schnall is his nephew.  From 1979 to 1999, he was married to Liba Trejbal. They have two youngsters. Brett Icahn, a businessman, investor, and philanthropist, is one of them. In 1999, Carl Golden wed Gail Golden. 

Named in his honor are the “Icahn Scholar Program,” “Icahn Institute for Genomics and Multiscale Biology,” “Carl C. Icahn Centre for Science,” and “Icahn Stadium.” This tough investor and negotiator are renowned for his charitable work as well. At “Princeton University,” he provided funding for the “Carl C. Icahn Laboratory,” a genomics research facility.

He made contributions to the New York-based “Mount Sinai Hospital,” which was renamed the “Mount Sinai School of Medicine” and the “Icahn School of Medicine at Mount Sinai” and dubbed another structure the “Icahn Medical Institute.” Homeless people can find shelter through his nonprofit, the “Children’s Rescue Fund,” which also operates the “Icahn House West” and the “Icahn House East” in the Bronx.

In 2010, he signed up for the “Giving Pledge” list. In addition, he received numerous honors and accolades for his humanitarian work, including the “Founders Award of the Starlight Foundation.”

Professional Career 

In 1961, Carl Icahn started working for Dreyfus Corporation as a stockbroker. He joined Tessel, Patrick & Co. as an options manager in 1963, and then transferred to Gruntal & Co. Icahn established Icahn & Co., a firm that specialized in risk arbitrage and options trading, in 1968 with investments totalling $400,000 from his uncle M. Elliot Schnall and $150,000 of his own money.

In his first takeover effort, he gained control of Tappan in 1978 and compelled the sale of the business to Electrolux, forcing a profit of $2.7 million, or twice his initial investment. In 1979, Icahn purchased Bayswater Realty & Capital Corporation. He bought ACF Industries in 1983, then sold the company’s shares to Phillips Petroleum in 1985 for a $50 million profit.

Icahn purchased 50% of Trans World Airlines in 1985 by pooling his finances with investor funds and monies borrowed from banks; in 1988, he completed the acquisition of the company through a leveraged buyout. Icahn used “asset stripping”—the methodical sale of TWA’s assets—to pay off his debts, earning him the moniker “corporate raider.”

He gave American Airlines the London routes of TWA in 1991 for $445 million. He left TWA with a $540 million debt in addition to a $469 million profit. To sell TWA tickets, he established lowestfares.com and bought Ramy El-stake Batrawi in Global Leisure Travel. Icahn attempted to acquire 89 per cent of U.S. Steel for $8 billion in a hostile takeover in October 1986; the attempt was abandoned in January 1987.

He earned $200 million in profit when he sold his $1 billion investment in the business in 1991. Icahn made a $700 million profit in June 1989 when he sold his stock in Texaco for $2 billion in the largest share transaction ever on the New York Stock Exchange. He made a $375 million acquisition bid for Pan Am in 1990.

He acquired a 6.6 per cent stake in Western Company of North America in 1994 as BJ Services was acquiring the company. Icahn made a $125 million profit when he sold his 7.3 per cent stake in RJR Nabisco in February 1997. In a conflict with Ronald Perelman, Icahn acquired ownership of Marvel Comics in June 1997.

He submitted a second bid for Pan Am in March 1998 with a $43 million offer. Icahn was the leader of an investment group that bought a 5% share in RJR Nabisco in December 1998 and put pressure on the management to split the company’s food and tobacco businesses.  Icahn’s Riverdale, LLC loaned $100 million to Genesis intermedia in July 2001 in exchange for options to purchase 5.5 million of the company’s shares at an average price of $5.09. In 2004, Carl Icahn started raising $3 billion to launch Icahn Partners, a hedge fund.

He acquired equity holdings in Time Warner and Blockbuster Video. Icahn bought a significant amount of stock in 2004 following the announcement by Mylan of a $4 billion stock proposal to acquire King Pharmaceuticals. He then threatened a proxy battle, asking shareholders to vote against the merger.

Mylan gave up on trying to buy King in February 2005. He made a $375 million acquisition bid for Pan Am in 1990. He acquired a 6.6 per cent stake in Western Company of North America in 1994 as BJ Services was acquiring the company. Icahn made a $125 million profit when he sold his 7.3 per cent stake in RJR Nabisco in February 1997. In a conflict with Ronald Perelman, Icahn acquired ownership of Marvel Comics in June 1997.

He submitted a second bid for Pan Am in March 1998 with a $43 million offer. Icahn was the leader of an investment group that bought a 5% share in RJR Nabisco in December 1998 and put pressure on the management to split the company’s food and tobacco businesses. The wired portion of XO Communications’ business would be sold to Carl Icahn, who was then the company’s chairman and a significant shareholder, for $700 million.

The proceeds would be used to settle debts and to repurchase its preferred stock from Icahn for around $600 million. Then, Icahn would have fully owned the wired company and retained ownership of his 60% interest in XO.

R2 and other minority shareholders blocked the transaction through the legal system in 2008, which charged Icahn with penalties due to his conflict of interest, even though Icahn owned the majority of the company and the board of directors had declared the deal to be in the best interest of shareholders. 

In August 2006, Carl Icahn purchased stock in Take-Two Interactive, a publisher of video games. By 2009, he had raised his stake to 11.3 per cent, making him the second-largest shareholder in the business. He bought a 9.2 per cent investment in Telik, a biotech business that conducts cancer research, in January 2007. Additionally, he bought 6.1 million shares of WCI Communities, which Lennar later acquired. Icahn, who owned 3% of Motorola, was unsuccessful in his bid to join the board of directors in a May 2007 election.

The board of directors of Lear Corporation approved Icahn’s $2.3 billion buyout offer on February 9, 2007. In February 2007, Icahn made a $50 million investment in Motricity, a mobile content delivery technology company based in North Carolina. A few months before Oracle Corporation announced its acquisition of BEA Systems, which Icahn supported, he upped his investment in BEA Systems to 13.22% in September 2007.

Icahn gradually boosted his ownership of Biogen beginning in 2007. Icahn sold his Nevada casino holdings, including the Stratosphere Las Vegas, Arizona Charlie’s Boulder, Arizona Charlie’s Decatur, and Aquarius Casino Resort, which was run by American Casino & Entertainment Properties, a division of Icahn Enterprises, to a division of Goldman Sachs in April 2007 for $1.3 billion, or $1 billion more than he paid for the properties.

Icahn sued Motorola in March 2008 to get four seats on the company’s board and compel the sale of its mobile division. Icahn bought a significant amount of Yahoo! stock in May 2008 and, when the board of directors rejected a buyout offer from Microsoft, vowed to launch a proxy battle to have them removed.

Instead, he compelled Yahoo’s board to increase to eleven members, including Icahn and two additional individuals of his choosing. Icahn started a blog called The Icahn Report in June 2008.  Imclone was eventually sold to Eli Lilly and Company for $6.5 billion in cash in September/October 2008 after Bristol-Myers Squibb’s attempted purchase of the drug was denied. Icahn was involved in both transactions.

He sued Realogy regarding a potential debt swap in December 2008. Icahn took part in a proxy conflict for Amylin in April 2009. He proposed to pay $0.55 per share for the shares of XO he did not already own in September 2009. Later, he increased his bid to $0.80, but it was eventually rejected. He left the Yahoo! board of directors in October, and by February of the following year, his holdings had fallen from a peak of 75 million shares to just 12 million.

Through a division of his Icahn Enterprises LP, Icahn paid around $150 million for the Fontainebleau Las Vegas in February 2010. He was one of the lenders who, in March, paid $200 million for Tropicana Casino & Resort Atlantic City, saving it from bankruptcy. He made an unsuccessful acquisition attempt for Lionsgate Films in March 2011.

He declared the acquisition of an 8.54 per cent stake in Lawson Software in May 2010. Icahn increased his ownership of Mentor Graphics from 6.9% in May 2010 to 14% in July. Icahn made an unsuccessful offer to purchase the company for around $1.86 billion in cash in February 2011.

Mentor attempted to respond by implementing a shareholder rights plan, but this failed to deter Icahn. In January 2011, Carl Icahn made a $10.2 billion purchase offer for Clorox. He had amassed a 9.08 per cent ownership in the business by the end of February. Icahn announced a 10% ownership investment in Netflix in October 2012. He attempted to take over the Oshkosh Corporation board of directors in November 2012.

Icahn was one of the 40 hedge fund managers with the highest salaries according to Forbes in February 2013. Icahn acquired a 9.2 per cent interest in Nuance Communications by April 2013. Icahn sued Dell and its board on August 2, 2013, to block CEO Michael Dell’s $24.4 billion takeover offer in favour of his alleged upcoming offer.

In October 2013, Icahn had 4.7 million shares of Apple Inc. Icahn bought over 61 million shares of Talisman Energy in the same month, which caused the share price to soar. He also sold roughly half of his Netflix stock that month, making over $800 million in profit in less than a year.

He purchased a 12.5% stake in the maker of medical equipment and diagnostics Hologic in November 2013. Icahn contributed another $500 million to Apple Inc. in January 2014. Icahn pressured eBay to execute the corporate spin-off of PayPal in January 2014 as well. A proxy war sprang out as a result, but it was resolved by April. Icahn purchased Talisman Energy in October 2014.

He sold his shares two months later after the company’s stock price dropped by 71%. Icahn invested $100 million in Lyft on May 15, 2015. Icahn recruited CBRE Group in November 2015 to find purchasers for the unfinished Fontainebleau Las Vegas. He exchanged his interests in eBay for shares in PayPal in November 2015 as well. Icahn reported a 7.13 per cent position in Xerox in November 2015 as well. Icahn made a purchase offer for Pep Boys in December 2015.

Additionally, he increased his holding in Cheniere Energy to 13.8 per cent, making him the company’s largest stakeholder. Carl Icahn sold the unfinished Fontainebleau Resort Las Vegas for $600 million in August 2017, more than four times what he had originally paid. In addition to holding shares in Cheniere Energy and Freeport-McMoRan, all of which saw a decline in value, Icahn reported in January 2016 that he owned a 4.66 per cent investment in Gannett Company.

Icahn sold his Apple stock in April 2016 because of worries about the company’s ties to China. Icahn upped his interest in Herbalife Nutrition to 21 per cent in August 2016. In addition, in October 2016, Icahn shut down the Trump Taj Mahal Casino in Atlantic City, alleging a $350 million deficit over several years and the inability to resolve a labour dispute.

Almost 3,000 individuals experienced job losses.  He expanded his stake in The Hertz Corporation in November 2016, following a sharp decrease in the stock price of the rental car company. Icahn boosted his investments in Navistar International and Herbalife Nutrition while selling out of Allergan and Nuance Communications and acquiring a 9.7% position in Conduent. Icahn sold all 55.3 million shares, or his 39 per cent ownership in Hertz Global, for 72 cents each in May 2020.

Almost $2 billion of his investment was gone. Icahn, who owned 200 shares of the firm, proposed two candidates for election to McDonald’s board of directors in February 2022, possibly kicking off a proxy battle. Icahn wants to put pressure on McDonald’s to upgrade the living circumstances of the pigs reared by its suppliers. 

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Carl Icahn Donations

The Carl C. Icahn Centre for Science and the Icahn Scholar Program at the Connecticut prep school Choate Rosemary Hall bears his name, as does Icahn Stadium on Randall’s Island and the Icahn Centre for Science in New York City. With an endowment worth around $400,000 each year, this charity provides for 10 students’ tuition, lodging and board, books, and supplies each year for four years (freshman to senior).

Icahn donated a sizable gift to his alma school Princeton University to support the Carl C. Icahn Laboratory for Integrated Genomics, a genomics research facility that carries his name. A trustee of Mount Sinai Hospital in New York, which he also generously supported, named a building the Icahn Medical Institute in his honour and renamed the Mount Sinai School of Medicine the Icahn School of Medicine at Mount Sinai in 2013 in return.

The Eric Schadt-led Icahn Institute for Genomics and Multiscale Biology has changed its name. Icahn House, a 65-unit building for homeless families made up of single women with children and pregnant single women, was erected by his charity, the Children’s Rescue Fund, which also runs Icahn House East and Icahn House West, two homeless shelters in New York City.

Icahn pledged to donate more than half of his wealth when he signed up for the Giving Pledge list in 2010. Icahn, an activist investor who has partnered with the Humane Society of the United States to achieve its goal of ending the sourcing of pigs produced in gestation crates, is pressuring McDonald’s to fulfil this commitment.

Political Information About Him

Donald Trump received Carl Icahn’s support in the 2016 US presidential election. He also disclosed the creation of a super PAC with a $150 million pledge to promote corporate tax reform, particularly about tax inversions, which happen when businesses relocate their headquarters from the United States to another country with lower tax rates.

As the presumed Republican candidate for president, Trump declared that he will put Icahn forth as Treasury Secretary of the United States. He chose Steven Mnuchin as his replacement, nevertheless. On December 21, 2016, it was revealed that Carl Icahn would work for President Donald Trump as a special advisor on regulatory reform.

He would support Trump in an “individual capacity” rather than on behalf of the government, and since he wouldn’t have any “specific duties,” he wouldn’t have to give up his business interests. On August 18, 2017, Icahn resigned from this position, citing a wish to avoid interfering with Neomi Rao’s duties as administrator of the Office of Information and Regulatory Affairs.

Icahn sold some of his assets in a stock that was sensitive to changes in the price of steel in February 2018, only days before the Trump administration announced a 25 percent tariff on steel imports, preventing him from suffering a $6 million loss. Icahn explicitly questioned Scott Pruitt about his views on the EPA’s Renewable Fuel Standard when the President had Pruitt interviewed for the position of Administrator of the Environmental Protection Agency. Icahn personally discussed his proposed modifications to the ethanol rule with Gary Cohn and President Trump.

If Icahn proposed to pass, CVR Energy, of which he owns 82 percent, would save $205.9 million annually. When President Trump issued an exception to his regulation freeze to increase the tax benefit of master limited partnerships, the Sugar Land, Texas oil refinery profited. Following President Trump’s victory, the value of CVR Energy’s stock increased by $455 million.

Carl Icahn Net Worth

Around $23.4 billion is thought to be Carl Icahn’s net worth.

His work as a financier and investor provides the majority of his income. Icahn enjoys a comfortable lifestyle and enjoys taking expensive travels thanks to his successful profession. One of the wealthiest and most powerful persons in the US, he is. Icahn is portrayed in the HBO documentary Icahn: The Restless Billionaire, which was produced and directed by Atlas Media Corp. in 2022.

Estimated Net Worth in 2023 (Approx)	$23.4 billion
Estimated Net Worth in 2022 (Approx)	$22 billion
Estimated Net Worth in 2021 (Approx)	$17 billion
Estimated Net Worth in 2020 (Approx)	$16.7 billion
Annual Salary	$6 Billion
Assets
Houses
Yachts
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