Carl Icahn: Is there a single family office?

Where is Carl Icahn’s wealth coming from?

Carl Icahn is an American entrepreneur and investor. He is the founder and controlling shareholder of Icahn Enterprises, a diversified holding company based in New York City, formerly known as American Real Estate Partners. He is also the Chairman of Federal-Mogul, a US developer, manufacturer and supplier of power train components and vehicle safety products. Icahn’s total net worth is estimated at around $5.9 billion.

How did the Icahn family business develop?

Icahn began his career on Wall Street in 1961 as a stockbroker. In 1968, with $150,000 of his own money and an investment from his uncle, he founded Icahn & Co, a securities firm that focused on risk arbitrage and options trading. In 1978 he began to take controlling positions in individual companies. In 1987, he founded Icahn Enterprises in New York City. The conglomerate holding company has investments in industries as diverse as auto parts, energy, metals, railroads, casinos, food packaging, real estate and home fashion. Today, the company employs more than 2,000 people and has revenues of more than $10 billion.

Is there a Carl Icahn family office?

Yes, there is. Icahn Capital LP is a New York-based single family office that invests and manages all of Carl Icahn’s assets. The investment firm is also part of his large holding company.

How does the Carl Icahn family office invest?

Icahn Capital LP operates in the shadows, so almost nothing is known about its investment activities. However, we have found that Icahn is likely to invest through three vehicles: the $7 billion hedge fund, Icahn Partners; Icahn Enterprises, his listed private equity firm; and ICAHN MANAGEMENT LP, a $2 billion hedge fund. He usually takes minority stakes in public companies and usually pushes for change. Key business segments include Real Estate, Automotive, Energy, Food Packaging, Fashion, and Pharma.

This article is part of our detailed report “The single family offices of the richest US families“.

Picture source: Chris Barbalis

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