Carl Icahn Losing Netflix Bet With Son Brett as Shares Rise

Carl Icahn, who pocketed an $800 million profit after selling more than half of his stake in Netflix Inc., is losing a three-month-old wager with his son Brett over the stock, which soared to a record yesterday.

The billionaire investor, 77, sold 2.99 million shares of Los Gatos, California-based Netflix in October after the stock rose more than fivefold in 14 months. Brett Icahn, 34, and fund co-manager David Schechter disagreed with the decision, arguing the world’s largest subscription streaming service was undervalued at $323. Aside from owing his son, Icahn missed out on the ensuing 20 percent rally, which would have made him about $196 million richer had he held those shares through yesterday, according to data compiled by Bloomberg.