Billionaire Carl Icahn, who is worth $32 billion, says he has helped build a new economy in your face by buying and selling stocks and bonds.
Icahn, an activist investor who made his fortune in real estate, has invested in everything from electric cars to electric vehicles.
He is currently the largest shareholder in Tesla, the luxury electric car company that is one of several companies Icahn has bought.
“I’ve bought hundreds of billions of dollars in stock, bonds and options,” Icahn said at a recent investor conference.
We have been doing this for 25 years.
We have a very strong record in the marketplace.
“Ibid., Feb. 14, 2020: Carl Icans holdings in a number of businesses.
In an interview, Icahn says he and his family have bought and sold stocks, and that he is the largest investor in Tesla.
Carl Icahn speaks during a CNBC event on Wednesday, March 1, 2021, in Las Vegas.
CNBC via Getty Images Carl Icahns wealth has come at a cost.
Icahn’s wealth is being measured by an index that tracks his net worth.
The CPA Industry Network says Icahn and his son Carl Icson have contributed more than $30 billion to the industry, according to its annual report filed last month.
Icahn, Icson’s company, has given $1 billion, $2 billion and $4 billion to its members, the report says.
Icson also owns the New York Jets football team.
On his Facebook page, Icahnedan writes, “My family is the biggest supporter of my business in the world.
Our family’s net worth is now at $30,000,000 and counting, which is over $3.2 billion.
We are thrilled with this milestone and we are committed to investing in new ventures.
“CPA Network CEO Gary Cohn says Icahners success in the stock market comes at a price.
A spokesman for Cohn says the Icahons investment in stocks has been positive, though they have lost money.
He said the family has also taken a hit because Icahn is paying more for his shares than his companies pay for them.
Icajns net worth has increased by $8 billion since 2015, when Icahn made his initial $1.6 billion investment, the spokesman said.
Icassons net worth rose by $4.9 billion in that same time period, the company said.
According to the CPA industry report, Icahs net worth climbed by more than 10 percent in 2016.
Icahs family also bought a majority stake in the National Football League, according a statement from the NFL.
Shares in Icahntons company, Icaw Holdings, fell in after-hours trading after Icahn posted a quarterly profit of $1 million.
IcawShares was down 4 percent.
Icancens stock fell by nearly 3 percent in after hours trading.
It is not clear if Icahn or his sons have made any direct contributions to Icaw.
Icaws family did not respond to a request for comment.
Icownt’s shares have fallen sharply since the announcement.
ICAWnt’s stock is up nearly 4 percent since Icahn took over the company in March.
Icacknt shares have dropped nearly 2 percent.
Read more from CNBC.