The LSE Directory / Hedge fund managers
Carl Celian Icahn (born 1936) is one of the most influential activist investors and corporate raiders in Wall Street history, credited with pioneering the modern model of shareholder activism. Beginning in the late 1970s and accelerating through the 1980s, Icahn accumulated stakes in companies he viewed as poorly managed, then pressured boards to return capital, restructure, sell assets, or sell the entire company, often in hostile battles that transformed the concept of shareholder rights. Famous campaigns include the hostile takeover of TWA (1985), battles with Texaco, Motorola, and Marvel Comics in the 1990s, and more recently Apple (2013-2014, arguing for a $150 billion buyback), Herbalife (took a long position opposite Bill Ackman's short), Netflix, eBay, and Dell. Icahn operates through Icahn Enterprises LP (IEP), a publicly traded diversified holding company listed on Nasdaq, which gives him a publicly accountable vehicle for his investments. In 2023, Hindenburg Research published a short-seller report alleging that IEP used a Ponzi-like structure, which caused significant stock decline. Icahn has faced SEC scrutiny regarding undisclosed personal loans backed by IEP shares.
