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Carl Icahn

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Carl Icahn

Carl Celian Icahn (/ˈkɑːn/; born February 16, 1936) is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, Florida. Icahn's business model is to take large stakes in companies that he believes will appreciate from changes to corporate policy; Icahn then pressures management to make the changes that he believes will benefit shareholders, and him. Widely regarded as one of the most successful hedge fund managers of all time and one of the greatest investors on Wall Street, he was one of the first activist shareholders and is credited with making that investment strategy mainstream for hedge funds.

In the 1980s, Icahn developed a reputation as a "corporate raider" after profiting from the hostile takeover and asset stripping of Trans World Airlines.

Icahn is on the Forbes 400 and has a net worth of approximately $6.7 billion to $7 billion.

Since 2011, Icahn no longer manages money for outside clients. Investors can still invest in Icahn Enterprises.

Icahn was born on February 16, 1936, in Brooklyn, New York, to an Ashkenazi Jewish family. He was raised in the Far Rockaway neighborhood of Queens in New York City, where he attended Far Rockaway High School. His father, Michael Icahn, a "sworn atheist", was a cantor, and later a substitute teacher. His mother, Bella (née Schnall) also worked as a schoolteacher.

Icahn graduated from Princeton University in 1957 with an A.B. in philosophy after completing a senior thesis titled "The Problem of Formulating an Adequate Explication of the Empiricist Criterion of Meaning." He entered New York University School of Medicine, but dropped out after two years to join the Army Reserve.

In 1961, Icahn began his career as a stockbroker for Dreyfus Corporation. In 1963, he became an options manager for Tessel, Patrick & Co. and then he moved to Gruntal & Co.

In 1968, with $150,000 of his own money and a $400,000 investment from his uncle, M. Elliot Schnall, Icahn bought a seat on the New York Stock Exchange and formed Icahn & Co., which focused on risk arbitrage and options trading.

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