Carl Icahn Net Worth: Lifestyle and Charity

A successful American entrepreneur, investor, and philanthropist, Carl Celian Icahn has a net worth of a staggering $16.8 billion as of 2023.

Icahn grew up in the Queens neighborhood of Far Rockaway. He earned a bachelor’s degree in philosophy from Princeton in 1957.

He is the founder, owner, and chairman of ‘Icahn Enterprises,’ an American conglomerate that invests in various businesses.

The intelligent investor Icahn has been shaking up corporate America for decades and is one of Wall Street’s most successful investors.

Carl Icahn | Quick Facts

Some quick facts about Carl Icahn are listed below:

Carl Icahn Net Worth and Income

As of December 2023, the successful investor Carl Icahn’s net worth is $ 16.8 billion.

Icahn started his business with $150,000 of his own money and a $400,000 investment from his uncle, M. Elliot Schnall, and founded Icahn & Co., specializing in risk arbitrage and options trading.

In the 1980s, he doubled his money on Texaco, made $800 million on Nabisco, and made nearly $3 billion on CVR Energy.

Similarly, he won the first proxy fight over stover stone maker Tappan for a profit of 193% in 1979.

The majority of Carl Icahn’s net worth comes from his holdings in “Icahn Enterprises,” a diversified holding company, as well as his successful investments in various enterprises and ventures.

In 2013, Carl bought almost $2 billion in Dell stock when the company planned to go private.

In 2017, Icahn sold X.O. Holdings to Verizon for $1.8 billion. Icahn sold the unfinished Fontainebleau Resort Las Vegas for $600 million in August 2017, more than four times the price he paid.

His fortune is currently split between publicly traded Icahn Enterprises, his family company Icahn Partners, and a diverse portfolio of personal investments in real estate and railcars.

According to Forbes, the daring businessman was named one of the top five highest-earning hedge fund managers in the world in 2015.

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Carl Icahn’s Net Worth in Different Currencies

Let’s look into Carl Ichan’s net worth in different currencies, including BitCoin.

Carl Icahn | Houses and Yacht

House

Carl Icahn spends his time in his Lily Pond Lane mansion without making billions. Those who have seen his residence describe it as more of a palace than a house, with the garden the size of a football field.

The property is also painted white and resembles a palace, and it is located in East Hampton, one of the most coveted zip codes among the wealthy.

Similarly, the mansion is surrounded by lush greenery. The house is built in an antique French style and tennis court.

Yacht

Carl, a billionaire businessman, owns the expensive luxury boat “Starfire,” one of his prized possessions.

His favorite boat was recently rumored to be on the market for $37.5 million due to the American business magnate’s desire to purchase a bigger Yacht.

Carl Icahn | Lifestyle

Lifestyle

Icahn grew up in Queens, the son of a synagogue cantor and a high school teacher, and went to public school before enrolling at Princeton University to study philosophy.

He developed his interest in investing after experiences in medical school and the service.

At 41 years old, Icahn married a 28-year-old Czechoslovakian ballerina, Liba.

However, she filed for divorce in October 1993, claiming that she signed the prenuptial agreement under duress because of the pregnancy.

In July 1999, the divorce was finalized. Brett Icahn and Michelle Celia Icahn Nevin are their two children.

Nevertheless, Carl married his longtime assistant and former broker, Gail Golden, in 1999.

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Charity

Carl signed the pledge 20 years ago, much like other billionaires who pledge to donate their wealth to charity. He has promised to donate $20 billion to charity.

His charity, the Children’s Rescue Fund, has established a 65-unit building for homeless families of unmarried pregnant women and single mothers with children.

He also opened a homeless shelter in New York City, naming them Icahn House East and Icahn House West.

Similarly, The Carl C. Icahn Center for Science and Icahn Scholar Program at Choate Rosemary Hall provides for ten students’ tuition, lodging and board, books, and supplies for four years (freshman–senior), with an endowment of around $400,000 per year.

Carl Icahn | Investment & Books

Investment

Icahn is an activist investor who buys shares in companies, sometimes in tiny amounts, giving him power and a stick to use in shareholder votes to force changes on the board of directors.

According to annual SEC filings, the billionaire invests his wealth through multiple businesses, including Icahn Partners, in which Icahn Enterprises is the only other shareholder.

The value of Icahn Partners’ holdings is published around once a quarter in Icahn Enterprises regulatory filings.

He also owns Icahn Enterprises Holdings, the parent firm of publicly-traded Icahn Enterprises, with a stake of 1.99 percent.

Carl got himself into trouble in 2014, as the SEC looked into his financial decisions. His equities had lost about 4% of their value at the time, and he had lost $420 million in a single day.

Despite this, Carl Icahn still holds the title of richest trader on Wall Street, with a net worth of $ 23.6 billion.

Icahn made a $100 million investment in Lyft on May 15, 2015.

In November 2015, he also exchanged his eBay stock for PayPal stock. Icahn also declared a 7.13 percent investment in Xerox in November 2015.

Books

There are several books written on the business strategies of Carl Icahn.

However, one book that caught everyone’s attention was written by Peter Paris titled Carl Icahn: Earn Your First Billion Dollars Using The Proven Methods of The World’s Greatest Investors.

Carl Icahn | Career

Initially, Icahn was a registered sales representative on Wall Street in 1961, and by the end of the decade, he built up a large enough client base to open his brokerage firm.

He started brokerage Icahn & Co. by borrowing $400,000, and he has built up a billion-dollar fortune for himself.

Carl’s one of the renowned milestones is, buying TWA outright. This sale netted him $469 million and left TWA with a $540 million debt. Then, in 1991, he sold TWA’s coveted London routes for $445 million to American airlines.

In recent years, he’s also gotten media attention for endorsing Donald Trump’s candidacy, arguing that the then-nominee was a “positive” for the U.S. economy, not a “negative.”

Carl Icahn is also featured in the HBO documentary “Icahn: The Restless Billionaire”, which was released in February 2022.

As of  2023, Carl Icahn’s net worth is $16.8 billion.

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 Facts About Carl Icahn

• Carl publicizes his letter by giving direct advice to his clients and others. It’s a plan to manipulate stock prices to his advantage.
• The successful businessman had invested $ 321 million in NETFLIX in 2012. Still, in 2015, he believed the company was having trouble and sold his investment too soon, missing out chance of earning $4 billion in NETFLIX.
• Carl couldn’t afford the fees because he wasn’t wealthy enough, so he started playing poker with the owners at the country club and won enough money to pay for his tuition.

FAQs

 Is Carl Icahn a corporate raider?

He was called a corporate raider in the 1980s, although he was more commonly referred to as an activist investor later.

How much did Carl Icahn lose on blockbuster?

Carl Icahn lost roughly $200 million on the blockbuster stock investment.

Does Carl invest in Cryptocurrencies?

Carl is one of those who think cryptocurrencies are unsafe and silly. He also stated that he doesn’t fully comprehend it.

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