Carl Icahn Biography - Profile |
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Carl
Icahn Biography (Carl Celian Icahn):
Investor and Entrepreneur
Famous for :
Buying and selling large stakes in major
companies, hostile takeovers, and for
being a billionaire according to Forbes
magazine.
Icahn details
: Born - 1936 USA / Lives -
United States of America
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Icahn |
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Biography - Information |
Carl
Icahn is a well known
investor and businessman that has amassed
a great fortune from buying and selling
major companies. Some have labeled Icahn
a "corporate raider" or "imperial
shareholder" that is only out to tear
companies apart for short term profits,
but he refers to himself as a "shareholder
activist" that is keeping managers
accountable. Throughout the 1980s Icahn
profited greatly from major companies like
the airline TWA (Trans World Airlines),
USX (United States Steel Corporation), and
Texaco oil.
Carl Celian Icahn was born and raised in
New York, USA. He was raised in a middle
class home with his father being a lawyer
and his mother being a teacher. Icahn went
on to receive a Bachelor of Arts and Science
at the Princeton University, New Jersey
and dropped out of the New York University
School of Medicine after 2 years.
Icahn made much of his money during the
1980s because of the "The Junk Bond
King", Michael Milken.
The American financier is known to buy large
stakes in major companies and attempt to
bring about change in management, forcing
them to improve their performance. This
often means that he is either bought out
or the company is broken up and sold at
a large profit.
"We're not about liquidating companies,
but if you do that, why is that terrible?
We're not blowing up the factories. The
person who buys it should be able to make
the asset more productive." Carl
Icahn
More recently the activist investor has
been involved in a very public battle with
the Time Warner CEO Richard Parsons. Icahn
has called the company "bloated"
and plans to dismantle the Time Warner company
into four parts (America Online, Time Warner
Cable, the publishing arm, and the television
/ film arm). Icahn and his investment group
owns 3% of Time Warner.
"A great company in the media business
needs visionary leaders, not a conglomerate
structure headquartered in Columbus Circle
that second guesses." Carl Icahn
In 2005 Forbes business magazine estimated
Carl Icahn's net worth to be $7.8 billion
American dollars, making him the 49th richest
person in the world.
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