At 76 years old, Carl Icahn does not seem to be slowing down at all. Last year Icahn did return his hedge fund’s outside money to focus on investing his own funds but his activity as an activist shareholder does not seem to have waned significantly. Just recently he was proposing a new slate of directors for Forest Laboratories, which has been up ~18% YTD. Shareholder activists take an equity stake in a public company and proceed to pressure management into making certain changes or replacing management to achieve goals that benefit shareholders. Icahn has been doing this since the 1980s involving companies like B.F. Goodrich and more recently, Imclone, The Walt Disney Company, Biogen, Mentor Graphics, and Clorox. At one point he owned part of the bankrupt Fontainebleau Las Vegas, declaring that “the acquisition of the Fontainebleau property was a great opportunity to purchase a distressed asset that I believe has considerable value.” Icahn has been very successful through this strategy of taking controlling positions in companies to enact change, racking up a net worth of $14 billion.... Company, Ticker, Value ($000s), Activity. ICAHN ENTERPRISES L P, IEP, 4008551, 17% ... Continue to read.
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