Icahn’s Margin Loan Deal With SEC Caps $19 Billion Wealth Plunge
- Investor’s fortune fell more than 75% since May of 2023
- SEC deal follows last year’s report by short-seller Hindenburg
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Carl Icahn’s settlement of a regulatory investigation caps a 15-month period that has seen the investor’s net worth plummet by $19 billion.
Shares of Icahn Enterprises LP fell 4.7% Monday after the billionaire and his investment firm agreed to pay $2 million to settle Securities and Exchange Commission allegations that he didn’t provide enough information about how he was borrowing against his stake in the company.