The investor has lost more than $5 billion on paper over the past two days.
(Photo: Reuters)
Dusseldorf Carl Icahn is considered one of the most successful and wealthiest investors in the USA. Forbes magazine put his fortune at over $18 billion at the beginning of the week. However, his fortune is currently shrinking at a breathtaking pace.
Because a large part of his fortune consists of shares in his company Icahn Enterprises (IPE). And its shares lost a total of 35 percent on Tuesday and Wednesday. As a result, Icahn lost a total of $5 billion in two days.
The trigger for the price drop are allegations by the equally well-known and controversial short seller Hindenburg Research. He claims in a report published on Tuesday that Icahn Enterprises is overstating the value of its private wealth portfolio. Hindenburg has therefore built up a short position in the share, earning money on falling share prices.
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