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Carl Icahn is an investor, American businessman, activist shareholder and philanthropist was born on February 16, 1936. He is currently the Special Advisor to the President of the United States on Regulatory Reform. He is the founder and holds the maximum number of shares of Icahn Enterprises, a diversified conglomerate holding company.
Icahn grew up in the Far Rockaway, Queens section of New York City and attended Rockaway High School. In 1957, he completed his graduation from Princeton University with a Bachelor of Arts Degree in Philosophy. He then enrolled in the New York University School of Medicine but dropped out in two years to join the army reserves.
He started working as a stockbroker on Wall Street in 1961. He formed a security firm Icahn & co. that focused on options trading and risk arbitrage in 1968. In 1978 he started acquiring controlling positions various individual companies. Since then he has taken controlling positions in companies like Phillips Petroleum, Viacom, Western Union, Uniroyal, Texaco, Gulf & western, Motorola, Marvel Comics and Time Warner among others.
In 1985 Carl Icahn was involved in the hostile takeover and asset striping of the TWA(Trans World Airline). Icahn took TWA private in 1988 with a personal profit of $469 million and left the company in a debt of $540 million. He sold TWA’s London routes to American Airlines in 1991 for $445 million.
Carl Icahn purchased a bulk of stock of Mylan Pharmaceuticals when they wanted to acquire King Pharmaceuticals and threatened a proxy fight over the acquisition which Mylan Pharmaceuticals later retracted. He tried to take over Marvel Comic but in 2009 it was acquired by the Walt Disney Company. He purchased the stock of Apple on August 13, 2013 but later sold his shares in April 2016, because of Apple’s relationship with China.
Carl Icahn acquired 61 million shares of Talisman Energy in October 2013. He purchased stocks in video game publisher Take-two interactive in August 2006. He was the second largest shareholder of the company. He then purchased 9.2% stake in Telik in January 2007. Icahn disclosed his ownership of 8.5% share in business software Company BEA System on September 14, 2007. Icahn Sold his Entertainment Properties and American Casino on February 21, 2008. He purchased four casinos in Southern Nevada. Icahn purchased more than 50 million shares of Yahoo on May 13, 2008. Icahn agreed to join as a Board of Director of Yahoo on July 21, 2008. He later resigned on October 29, 2009. Icahn declared that he owns almost 12% shares of Hain Celestial Group Inc. on May 17, 2010. On May 25, 2010, Icahn declared that he owns almost 8.54% stake in Lawson Software. Icahn reported that he acquired a 6.9% stake in Mentor Graphics on May27, 2010.
Icahn exchanged his entire stock of eBay for the equal number of shares in PayPal holdings on November 16, 2015. Icahn revealed a 7.13% stake in Xerox on November 23, 2015. He was the second largest investor in Xerox. Icahn disclosed a 4.66% stake in Gannett Co. on January 13, 2016.