Brett Icahn

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    News

    Carl Icahn About Ready To Let Brett Call Him ‘Dad’ At The Office

    Junior really proved himself with that Netflix call. The days of “Sorry, Mr. Icahn, I didn’t realize you were on a call” and “I’m sorry, sir, I’ll make sure I keep my office more organized when investors visit” and pretending they hadn’t seen each other over the weekend at his cousin’s bar mitzvah may soon […]

    / Jan 28, 2015 at 4:39 PM
  • Hedge Funds

    Brett Icahn Has To Write ‘Dad Was Right About Netflix’ 200 Million Times

    Carl Icahn lost $200 million yesterday on Netflix, one of those newfangled technology stocks that his son is always pushing him to invest in. Now, Carl’s not happy about, but since he already made a 457% return when he unloaded half of his shares in the company last year, he’s not calling Brett in for […]

    / Oct 17, 2014 at 2:44 PM
  • Hedge Funds

    Carl Icahn Covers Faded Choate Honor Roll Bumper Sticker With New ‘My Child Convinced Me To Invest In Apple’ One

    Carl Icahn may have dashed his son’s hope of managing other peoples’ money by the beach in Miami, but he’s still a proud papa. In between telling a company that he thinks is so well run exactly how to run things, he notes that Tim Cook and the rest of Apple have young Brett Icahn […]

    / Oct 10, 2014 at 12:31 PM
  • Father of the year.

    Hedge Funds

    Carl Icahn Drives A Hard Bargain At Work And At Home

    Young Brett Icahn’s plans to follow in his father’s footsteps with a chunk of his father’s money have run into a snag, namely, his father. Sure, the elder Icahn would be happy to help his son remove the training wheels, but he just can’t help it if he’s the superior negotiator, even at 78.

    / Sep 12, 2014 at 1:57 PM
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    News

    But Daaad! Netflix Has So Much More Growth Potential!

    As you may have heard, starting October 10, Carl Icahn sold 2.99 million shares of Netflix. His son Brett, who works for the old man, thought this was a mistake. So that no one felt like their voice wasn’t being heard, a filing disclosing the sale included statements by both parties, “exposing [the] disagreement” between […]

    / Oct 23, 2013 at 2:32 PM
  • News

    Carl Icahn Gives Son Four Years To Prove Himself

    Ten years ago, Carl Icahn hired his son Brett to be an analyst at Icahn Enterprises and the kid didn’t fuck anything up so he got to keep his job. Two year ago, Carl gave Brett and another employee, David Schechter, $300 million to invest under the “Sargon portfolio,” and the guys returned 96 percent (before fees) through June. Last month, Carl tossed the duo an additional $3 billion and a contract that expires in 2016, at which time Papa Icahn will either officially Brett a worthy successor or offer to serve as a reference for his next gig.

    Under a 46-page legal agreement filed with federal regulators last month, Brett Icahn and Schechter will get to invest their boss’s capital in companies with stock market values between $750 million and $10 billion. The deal may free the elder Icahn, who still has final say over many aspects of the portfolio, to focus on larger targets for shareholder activism. Brett, who turns 33 this month, along with Schechter has been running $300 million for his father, who owns more than 90 percent of Icahn Enterprises LP, a holding company with $24 billion in assets including activist investing partnerships as well as the Tropicana casinos, an oil refiner and an auto-parts maker. The arrangement expires after Carl turns 80 in 2016, giving Brett the chance to both prove his mettle as a successor and develop a track record to start his own hedge fund.

    After hiring Brett as an investment analyst a decade ago, Icahn allocated the $300 million to his son and Schechter in April 2010 to invest in loans and securities of companies with less than $2 billion in equity value. Their investments, internally dubbed the Sargon portfolio, generated a gross cumulative gain of 96 percent by the end of June, according to a July 27 filing with the U.S. Securities and Exchange Commission…“These two guys doubled our money over the last two years,” the elder Icahn said in an interview. “You can’t complain about that.”

    Carl Icahn Hands Son Brett $3 Billion To Prove His Mettle [Bloomberg]

    / Aug 14, 2012 at 12:23 PM
  • News

    Carl Icahn Likens Judge Saying He Owes Bill Ackman $8 Million To Being Wrongfully Accused Of Murder, Sent To Death Row

    Five weeks ago, Carl Icahn announced he’d be closing the hedge fund he opened in 2004. Was this a sign retirement was next to come, some wondered? Hell no, Icahn recently told a reporter who checked in with the activist investor. “What else would I do? Play shuffleboard somewhere?” Mr. Icahn said from his vacation […]

    / Apr 18, 2011 at 4:48 PM

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