Monday, November 16, 2009

#22 Carl Icahn $10,500 million

© AP Photo/Mark Lennihan
Cowboy Billionaire
Dallas Cowboys owner Jerry Jones on building his fortune and a $1 billion stadium.
#22 Carl Icahn
$10,500 million

America's richest "shareholder activist" had busy summer: in June contentious proxy battle with Biogen yielded 2 board seats. That same month received approval to buy Tropicana Casino & Resort out of bankruptcy. Grew up middle class in Queens, eventually got a securities arbitrage gig at Dreyfus & Co. Minted billions staging buyouts in 1980s. Shares of his Icahn Enterprises up 40% since January; still down 40% since last fall. Publishes blog about corporate ills: "Managements are overcompensated in myriad ways, even when stockholders—the owners—take tremendous losses."

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