Carl Icahn – Short Biography
Carl Icahn became known primarily for his skills and expertise in handling financial transactions. He was a corporate raider during the 1980s and sold overvalued Internet companies in the 1990s.
He is one of the top-50 richest people in the world according to Forbes Magazine.
Carl Icahn … from One Takeover to the Next
Icahn went to Princeton University and then to the New York University School of Medicine, but he eventually dropped out. His career in finance, however, began with the hostile takeover of TWA in the 1980s.
By buying large stakes in companies, such as United States Steel Corporation and Texaco Oil, he initiates change within the management. And then he sells the company at a profit. It was through the junk bonds of Michael Milken that this business leader earned his billions.
Icahn also has large interests in Time Warner. Although he wants Time Warner to be broken up into four divisions to increase shareholder interest, there has been opposition from management. Although there has been some criticism of Icahn Enterprises, because it appears to many that they are only out to make a quick profit, Icahn has defended himself by explaining that he is only trying to make an asset more productive than it already is.