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Sources: http://tech.fortune.cnn.com/2013/01/09/netflix-what-happens-next/ As for Icahn, although he came out with guns barreling at the time of his 13D filing and promised a fight, he&apos;s more recently pulled back on plans to launch a proxy battle, at least for now, according to someone close to Icahn. He was impressed with the Disney deal and has watched Netflix stock, which he purchased under $60 a piece, rise to more than $97 a share since his filing, the person said.
How well do you know activist billionaire Carl Icahn?
How Well Do You Know
Activist Investor and Billionaire
Who Is Carl Icahn?
Source: Yahoo! Investor Relations via the
Often called a
or an "asset stripper,"
Icahn prefers titles like
Image: Maribel Bylund.
Icahn was raised in
Queens, New York,
by two school teachers.
Far Rockaway boardwalk, by Boris Miller via Panoramio.
From Queens to Wall Street
Hospital halls were not for Icahn.
Armed with a Princeton degree
in Philosophy, Icahn dropped out
of NYU's medical school in 1959.
Joined the army, then moved to
Carl Icahn never looked back.
Mother Wanted a Doctor, But...
Today, Icahn Enterprises manages a $14.8
billion investment portfolio.
"Fully wedded to the activist model."
Returns tend to leave even Warren Buffett's
Berkshire Hathaway behind:
Icahn Enterprises HQ
GM Building, 47th floor
Source: Wikimedia Commons.
Icahn's Strategy, in His Own Words
"A lot of people died fighting tyranny. The
least I can do is vote against it."
"I am an ardent believer that if corporate
governance in this country does not change,
our economy and markets face great
"When mediocre managements are replaced
or at least held accountable, companies
become more productive and shareholder
value is greatly enhanced."
"Some people get rich studying artificial
intelligence. Me, I make money studying
Carl Icahn and CNBC Anchor David Faber.
Icahn's Strategy, As Seen By His Peers
"[Icahn is] the most competitive person I know. …
He's especially good at terrorizing people and
wearing down their defenses."
-- Wilbur Ross
"People like to get along with people. … Carl
doesn’t have that gene quite as strongly as
-- Warren Buffett
"More often than not, he’s right. They listen to
Carl. Changes are made. Companies and
corporate America improve. In the process, Carl
has consistently done more for shareholders than
any CEO. And, of course, Carl makes money."
-- T. Boone Pickens
What Has He Done Lately?
Here's just a handful of
Icahn's biggest battles
— win, lose, or draw.
Remember, this is just
the tip of the iceberg.
Carl Icahn is almost
always in the news.
Pyramid Scheme or "No-Brainer"?
Icahn owns 16.5% of Herbalife – a stake worth $1.3 billion.
He feuded over the company with fellow activist
Bill Ackman, of Pershing Square fame.
Icahn is winning, and the investors are friends again.
The Big Boys Listen, Too
Using a $2.7 billion stake
to put pressure on Apple,
Icahn got what he wanted: huge share
(Icahn recently boosted his Apple investment to $4.4 billion. What’s next?)
But Icahn Doesn't Always Win
Before Hunger Games and Twilight,
Lionsgate beat back a hostile
attempt by Icahn.
Icahn missed out on profits of
more than $1 billion.
To repel him, the company withheld
important financial information.
Lionsgate settled charges
of misconduct for $7.5 million.
The Site of Icahn's Most Stinging Defeat...
Icahn once owned 16.9% of Blockbuster Video
and sat on its board of directors.
The company fell to digital entertainment options,
led by Netflix.
It was "the worst investment I ever made," says Icahn.
...and His Biggest Victory…
Just one year after exiting Blockbuster, Icahn
built a nearly 10% stake in Netflix.
Shares were cheap after the Qwikster debacle,
and Icahn wanted to shake Netflix up. The
company set up anti-activist shields, as Icahn
targets often do.
After meeting with management, Icahn changed
his tune. He became a Netflix supporter instead,
dropping his strategy makeover ideas and
buyout talk. Source: Netflix
…To the Tune of $800 Million
Icahn sold over half of his Netflix shares
in 2013 to a firm managed by his son, Brett
Icahn. Carl netted over $800 million on the
Icahn Enterprises still owns 3.7% of Netflix.
Warren Buffett just
bought nearly 9 million
shares of this company