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Carl Icahn Net Worth 2020


Facts of Carl Icahn

Full NameCarl Icahn
First NameCarl
Last NameIcahn
Birth NameCarl Celian Icahn
ProfessionBusinessman, Investor, and Philanthropist
Birth CityNew York
Birth CountryUSA
Father NameMichael Icahn
Father ProfessionTeacher
Mother NameBella Schnall
Mother ProfessionSchool Teacher
Gender IdentityMale
Sexual OrientationStraight
Marital StatusMarried
SpouseGail Golden
Relation WithLiba Trejbal (1979-1999)
No Of Children2
EducationPrinceton University
Date of BirthFebruary 16,1936
Age84 years
Married Date1999
Amount$16.5 billion

Founder of Icahn Enterprises, Carl Icahn is an American businessman, investor, and philanthropist. Icahn is also the Chairman of Federal-Mogul which is an American developer, supplier, and manufacturer of powertrain components and vehicle safety products.

In a similar way, Icahn served as the special economic adviser on financial regulation to U.S. President Donald Trump in 2017. According to Forbes, Carl owns a net worth of $16.5 billion making him the 26th wealthiest person on the Forbes 400 list as of 2019.

Short Biography on Carl

Carl Celian Icahn was born 16th February 1936 in New York City, New York, the United States of America. Icahn was born to father Michael Icahn and mother Bella Schnall. He holds American nationality and comes from a Jewish family.

Carl Icahn is an American businessman and philanthropist worth $16.5 billionImage Source: The Sun
Carl Icahn is an American businessman and philanthropist worth $16.5 billion
Image Source: The Sun

Carl attended Far Rockaway High School and Princeton University from where he earned his Bachelor of Arts degree in philosophy in 1957. He also went to New York University School of Medicine, however, he dropped out after two years to join the army reserves.

Beginning of His Professional Career & Stakes

Icahn began his career on Wall Street as a stockbroker in 1961. In 1968, Carl invested $150,000 of his money & $400,000 investment from his uncle, M. Elliot Schnall to buy a seat on the New York Stock Exchange.

He then formed Icahn & Co., a security firm that focused on risk arbitrage and options trading. Carl developed a reputation as a corporate raider after the hostile takeover of Trans World Airlines in 1985.

In 1988, Carl took TWA private gaining a personal profit of $469 million, leaving TWA with a debt of $540 million. A few years later, Icahn sold TWA’s London routes to American Airlines for $445 million.

Carl sold TWA for $445 million in 1991Image Source: Medium
Carl sold TWA for $445 million in 1991
Image Source: Medium

In August 2006, Carl bought stock in the video game publisher Take-Two Interactive and later increased his holdings to 11.3% in 2009 becoming the company’s second-largest shareholder.

In a similar way, Icahn purchased a 9.2% stake in a biotech company called Telik engaged in cancer research. He also made an investment of 6.1 million shares of WCI Communities and also owned about 33.5 million shares of Motorola.

On 9th February 2007, Lear Corporation’s board of directors accepted a $2.3 billion takeover offer from Icahn. The same month, he also invested $50 million in Motricity, a North Carolina-based provider of mobile content delivery technology.

The same year, Carl and his affiliates also owned majority positions in ACF Industries, American Railcar Industries, NYSE-listed Icahn Enterprises, and Philip Services. Icahn also gradually increased his stake in biotechnology company Biogen.

In February 2008, Carl sold his casino interest in Nevada including the Stratosphere, Arizona Charlie’s Boulder, Arizona Charlie’s Decatur, and Aquarius Casino Resort. The sale price of $1.3 billion was roughly $1 billion more than he paid for the properties.

The 83-year-old businessman was a director of Blockbuster until January 2010 and the chairman of Imclone, Icahn Enterprises, WestPoint Home, XO Communications, Cadus, and American Railcar Industries.

In October 2012, Carl purchased a 10% stake in Netflix which he later sold about 50% of his shares for a profit in excess of $800 million in less than one year. In February 2013, Forbes listed Icahn as one of the 40 highest-earning hedge fund managers.

Carl purchased a 10% stake in NetflixImage Source: Forbes
Carl purchased a 10% stake in Netflix
Image Source: Forbes

In January 2016, Icahn held a 4.66% stake in Gannett Co. Inc., and Cheniere Energy and Freeport-McMoRan, both of which decline in value. In October, Carl closed the Trump Taj Mahal Casino in Atlantic City citing a $350 million loss over several years as well as failure to reach a deal with striking union workers. Following the closure, nearly 3,000 workers lost their jobs.

How Rich Is Carl Icahn?

According to Forbes, Carl is estimated at around $16.5 billion as of 5th December 2019. On the other hand, Celebrity Net Worth, Icahn owns a net worth around $18 billion as of 2019.

He also owns Icahn Stadium located in New York City, the Carl C. Icahn Center for Science and Icahn Scholar Program at Choate Rosemary Hall under his name.

His organization pays for tuition, room, board, books, and supplies for 10 students every year for four years valued at about $400,000 per annum.

Philanthropic Works

The multi-billionaire founded the Children’s Rescue Fund in order to support education. The foundation built Icahn House in The Bronx, a 65-unit complex for homeless families consisting of single pregnant women and single mothers.

They also operate Icahn House East and Icahn House West, both of them are homeless shelters located in New York City.

In 2010, Carl joined the Giving Pledge list pledging to give away more than half of his fortune, however, has not decided on the specific beneficiaries.

Who Is Carl Icahn Married to?

The 83-year-old billionaire is married to his longtime assistant and former broker Gail Golden. The couple tied the knot in 1999 amidst family and friends.

Carl with his second wife Gail GoldenImage Source: Business Insider
Carl with his second wife Gail Golden
Image Source: Business Insider

Previously, Carl was married to ballerina Liba Trejbal in 1979. They shared two children: Brett Icahn and Michelle Celia Icahn Nevin. The couple separated in 1993 after 14 years of marriage.

Their divorce was officially finalized in 1999. Trejbal fought for divorce settlement of roughly $1.5 million a year when Carl was already a billionaire at that time. She eventually settled for an undisclosed amount.

Updated On Thu Dec 05 2019 Published On Thu Dec 05 2019 By Amy