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CEOWORLD magazine - Latest - Banking and Finance - 2023, a challenging year for billionaire Carl Icahn

Banking and Finance

2023, a challenging year for billionaire Carl Icahn

Carl Icahn Profile

In 2023, it was a challenging year for Carl Icahn due to a sharp drop in his fortune of $18.1 billion, including a loss of over $10 billion in a single day after the short-seller Hindenburg Research caused a meltdown. Cahn refutes allegations and accuses Hindenburg CEO of writing misleading reports. However, Icahn is not ready to throw in the towel just yet.

He is best known for building sizable stakes in businesses and then pushing for changes to increase shareholder value. Icahn plans to launch a new proxy battle to gain control of gene sequencing firm Illumina’s board. Earlier this year, Icahn successfully removed Illumina’s chairman, John Thompson, through a proxy battle and replaced the seat with an Icahn ally. Although Illumina’s CEO Francis deSouza and other board members were also targeted, they survived the fight.

In June, deSouza resigned from his leadership position at Illumina after serving there for more than ten years. He was replaced in September by Jacob Thaysen, a candidate who had not previously worked at Illumina. Now, Icahn is seeking to remove the remaining board members involved in the closing of cancer blood test maker Grail’s acquisition.

Icahn Enterprises, 84% owned by billionaire Carl Icahn and his son, Brett, offers exposure to Icahn’s portfolio of public and private companies, including petroleum refineries, car parts makers, food packaging companies, and real estate. Its unit holders are primarily retail investors.

Wealthiest Billionaire Investors In The World:

  1. Warren Buffett: $118.6 billion
  2. Ken Griffin: $37.9 billion
  3. Jim Simons: $30.7 billion
  4. David Tepper: $20.6 billion
  5. Steve Cohen: $19.8 billion
  6. Michael Platt: $16 billion
  7. Ray Dalio: $15.4 billion
  8. Israel Englander: $11.8 billion
  9. David Shaw: $8.3 billion
  10. Paul Tudor Jones II: $8.1 billion
  11. Bruce Kovner: $7.7 billion
  12. David Siegel: $7.3 billion
  13. John Overdeck: $7.3 billion
  14. Christopher Hohn: $6.7 billion
  15. George Soros: $6.7 billion
  16. Stanley Druckenmiller: $6.2 billion
  17. Carl Icahn: $5.6 billion
  18. William Ackman: $4.1 billion

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CEOWORLD magazine - Latest - Banking and Finance - 2023, a challenging year for billionaire Carl Icahn
Harris Williams
Associate News Editor at CEOWORLD Magazine, specializing in data-led features with experience in breaking news, investigations, opinion, and analysis. I write data-led features on topics from banking to finance and work with developers and designers to create interactives and infographics.