When Carl was a young teenage boy, he joined the US Army leaving out his study to pursue career in strict discipline. It was because he thought he was too whimsical to shine in career. He needed some chain and the Army was not doubt the best option.
After about 3 years in strictly regulated life, Carl left the Army to begin his journey. Perhaps he too didn’t know he’d come this far today. The determined journey he began back then has now made him one of the biggest businessmen in holding industry of New York.
Carl Icahn lacked one thing in his life that is fear. He never feared to take risk which is the reason why he is successful today. He started his career as stock market broker in New York. But, soon he initiated his own securities firm Icahn & Co. To secure a place in the New York Stock Exchange for this company, he borrowed whooping $400,000 from his uncle and started his business with grandeur.
There is a saying that the luck favors those who are brave. No wonder, luck favored this vigorously encouraged man on his journey. Carl’s big investment didn’t go in vain and he became millionaire within a few years. In the mid-1970s, he started to acquire shares at random to increase his influence in the market.
A man of courage like Carl could never confine himself in the share market only. Soon he began to accumulate capital to invest in other business. Buying out a major American airline, TWA was first of his many diverse investments. Though he faced some stiff competition on buying the airline, he came out as the winner and became the chairman of the airline. Soon he took the airline private which was already in debt.
This move made it drown in more debt but he earned a huge buck. By the year 1991, he made $914 million from the airline that was drowning in debt with his sheer intelligence. Later, he introduced ‘lowestfares.com’ to attract more ticket sell for the dying airline. This move effectively revived the company.
In the meantime, Carl got himself involved in a notorious corporate war to buy an American steel giant U.S. Steel and made many enemies in business sector. However, he came out of the war soon realizing the hazards. Rather, he founded the Icahn Enterprise and incorporated it to enter numerous business sectors such as energy, real estate, auto parts, car, home fashion, casino, metal, food packaging etc. This huge conglomerate currently own profitable ventures like Pep Boys, Federal Mogul, Trump Entertainment Resorts etc.
In 2004, Carl entered the pharmaceutical industry with a bang. He bought major portion of shares of King Pharmaceuticals for $4 billion. This buyout made him one of the biggest stake-holders in American Pharmaceutical industry. In the following years, he became infamous for his thirst of acquisition as he made several attempts to buy many companies which were not interested to be sold.
From the beginning of 2008 to the end of 2009, Carl had a short chapter with search engine giant Yahoo. He bought lion’s share stakes of the company to gain total control. But, the boardroom of the company opposed his takeover strongly as they created constraint on his way of becoming the chairman. He got bored of boardroom tensions and left the company soon by selling out majority of his shares.
Besides all those diverse sectors of business, Carl Icahn got associated with Apple, Dell, Netflix, eBay with significant amount of shares in each of these companies. He is not that interested in politics but supports Republican view. He supported Donald Trump’s election campaign with significant amount of money. He also served as President Trump’s special adviser for a year. Currently, he is ranked o 61st position in the list of richest businessman in the world with $18.7 billion of net worth.
Carl Icahn was born in a Jewish family of New York on 16th February, 1936. He attended to the Princeton University to obtain a bachelor’s degree in arts. Later, he got himself enrolled in New York University’s medicine school to fulfill his mother’s wish. But, soon he left the university to pursue career in army. He was married to Leba Trejbal for 20 years and had 2 children with her.
In the year 1999, the couple got divorced and Carl married Gail Golden. He has fame for donation in education and research programs. He has also founded several hospitals and takes no money from them. He established Children’s Rescue Fund which works for children’s welfare and gives shelter to the homeless.