⬅ # 572 Abdul Samad Rabiu|# 574 Helen Johnson-Leipold

# 573 Carl Icahn 

$5.33B

Real Time Net Worth
as of 6/24/2024
$58.8M (1.10%)

# 573 Carl Icahn 

$5.33B

Real Time Net Worth
as of 6/24/2024
$58.8M (1.10%)
OccupationFounder, Icahn Capital Management
Source of WealthInvestments
Age88
ResidenceIndian Creek, Florida
Marital StatusMarried
Children2
EducationDrop Out, New York University; BS, Princeton University
Age-Adjusted Net Worth$802.09M
Carl Icahn
Carl Icahn
United States
Net worth: $5.33B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Carl Celian Icahn was born on February 16, 1936 in Brooklyn, New York
He earned a Bachelor of Arts in Philosophy from Princeton University, 1957

Business Career

1961: Started career as a stockbroker for Dreyfus Corporation
1968: Founded Icahn & Co. with personal and investor funds
1978: Made first takeover attempt with Tappan, doubling his investment
1985: Acquired 50% of Trans World Airlines through leveraged buyout
1986: Unsuccessfully attempted $8 billion hostile takeover of U.S. Steel
1991: Sold stake in U.S. Steel for $1 billion profit
2004: Started Icahn Partners hedge fund with $3 billion
2007: Increased stakes in Biogen and BEA Systems
2010: Made unsuccessful takeover bid for Lionsgate Films
2012: Reported 10% stake in Netflix
2013: Acquired 12.5% interest in Hologic
2014: Invested additional half billion dollars in Apple Inc.
2016: Increased stake in Herbalife Nutrition to 21%
2017: Acquired 9.7% stake in Conduent
2020: Sold entire 39% stake in Hertz Global

Public Policy and Economic Views

Endorsed Donald Trump in the 2016 US presidential election
Formed a super PAC pledging $150 million for corporate tax reform
Served as special advisor to President Trump on regulatory reform
Advocated for changes to the ethanol rule and tax advantages for oil refineries
Sold steel-price sensitive stock before announcement of steel tariffs

Philanthropy

Contributed to various educational and medical institutions, including Princeton University and Mount Sinai Hospital
Joined the Giving Pledge in 2010, pledging to give away more than half his fortune
Worked with the Humane Society of the United States on improving animal welfare standards in corporate practices

Awards and Honors

Received the Golden Plate Award of the American Academy of Achievement in 1984
Honored with the Starlight Foundation Founders Award and 1990 Man of the Year Award
Named Guardian Angel 2001 Man of the Year
Recognized by the Center for Educational Innovation and 100 Women in Hedge Funds for his contributions to education

How long would it take you to become as rich as Carl Icahn?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Carl Icahn's net worth of $5.33B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

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Carl Icahn is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Carl Icahn, Investments is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey