"Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity." Carl Icahn shared his idea of getting more productive.
Carl Icahn is one of the most successful investors of Wall Street and has been ruling corporate America since 1961.
How Much Is The Net Worth Of Carl Icahn?
Carl Icahn is estimated to have a net worth of $18 billion as per celebrity net worth. In contrast, other sites, including Forbes claimes, his net worth is $16.7 billion & The Richest reported his fortune to be over $20 billion.
Net Worth Throughout Time
Ichan is an American businessperson, investor, and philanthropist. He is the founder and around 93% owner of Ichan Enterprises L.P. previously known as American Real Estate Partners.
In 2016, the American holding company raised the revenue of more than $16.3 billion. The firm's net income was estimated to be $1.1 billion while maintaining the total assets of $33 billion and total equity of $8 billion.
Besides that, he also served as the exclusive economic adviser of the United States President Donald Trump in 2017 for a brief time.
How Did Carl Icahn Make His Huge Fortune?
In 1961, Carl Icahn began his career as a stockbroker on Wall Street. In the late 1960s, he launched his own company Ichan & Co., which grabbed a seat on the New York Stock Exchange with $150 thousand and a loan of $400 thousand from his uncle.
Eventually, Ichan gained a reputation as a corporate raider. He was named one after he took over Trans Wolrd Airlines in 1985. Moreover, he sold the assets of Trans World Airlines and made the company private profiting him a massive sum of $469 million. In 1991, he sold TWA's London routes for $445 million to American Airlines.
After six years, he launched a $7 billion hostile takeovers in late 1986. In the late 1990s, Icahn gained the possession of several companies and brands like Marvel Comics, Netflix, Motorola, Fairmont Hotels, Yahoo, Revlon, and many others.
The 2000s: Later Career
In his 200s, Carl Icahn managed to be included with American Railcar Industries, XO Communications, Philip Services, ACF Industries, and his own company Icahn Enterprises.
In mid 2001s, he exchanged 2 million shares of Riverdale, LLC company, for an immense $100 million. A few years later, he sold some of his significant shares worth over $1 billion and profit of the same price.
Moreover, the 83 years old recently gained control over a U.S based shale producer, SandRidge Energy.
With his net worth of $16 billion to $20 billion, Carl Icahn placed him on the #30 position of Forbes 400 list of 2019. He is even ranked #11 on the list of the highest-earning hedge fund managers.