Icahn Enterprises (IEP) public SEC filings, Hindenburg Research report, Bloomberg
Carl Celian Icahn is one of the most famous activist investors and corporate raiders in Wall Street history. Now 89, he has been a dominant force in financial markets for over five decades through Icahn Enterprises, a diversified conglomerate and investment vehicle.
Icahn grew up in Queens, New York, graduated from Princeton University, and entered Wall Street in the 1960s. He became famous in the 1980s as a corporate raider, with hostile takeover bids for companies including TWA, Texaco, and RJR Nabisco.
In recent years, Icahn Enterprises has struggled significantly. Short seller Hindenburg Research published a critical report in May 2023 alleging the company used a "Ponzi-like" structure, causing the stock to drop approximately 50%. Icahn settled SEC charges in late 2024 related to undisclosed personal loan pledges. Despite these setbacks, Icahn remains an influential figure in corporate America. His net worth has declined from a peak of approximately $22 billion to around $5 billion.