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 to thank for having to read the 4,000-word missive. But Brett and his partner David Schechter aren’t just keeping his dad enjoyablybusy in the sunset of his life: They’re also making him more money than he can possibly spend, even if he lives another 78 years.
The portfolio, dubbed the Sargon Portfolio, posted a gross annualized return 36.5% from its formation in April 2010 to the end of the third quarter….
As the Journal has reported, Carl Icahn has credited his son and Mr. Schechter with his investment in Netflix Inc.–which netted at least $2 billion for Icahn Enterprises by the Journal’s account–and in Apple Inc.
Carl Icahn Reveals Performance of Son Brett’s Portfolio [WSJ MoneyBeat blog]
‘Shares at Half Price’: Read Carl Icahn’s New Letter to Apple [WSJ MoneyBeat blog]
David Schechter, the Guy Behind Icahn, Behind the Other Icahn [Bloomberg]