Carl Icahn Admits Making A Mistake On Bearish Bet, Said He Should Have Kept His Own Advice - $IEP
- last year
Prominent activist investor Carl Icahn has acknowledged his error in placing a substantial bet on a market crash, ultimately resulting in his group suffering losses of nearly $9 billion over six years.
The net asset value of Icahn Enterprises decreased from $7.9 billion in 2017 to $5.6 billion this month, posing a potential issue for Icahn, as he traditionally opted for an annual dividend of $8 per share in stock rather than cash.
Consequently, the number of outstanding shares more than doubled over the six years, resulting in a decline in net asset value per share from $33 to roughly $16.
The net asset value of Icahn Enterprises decreased from $7.9 billion in 2017 to $5.6 billion this month, posing a potential issue for Icahn, as he traditionally opted for an annual dividend of $8 per share in stock rather than cash.
Consequently, the number of outstanding shares more than doubled over the six years, resulting in a decline in net asset value per share from $33 to roughly $16.