“Activist or raider, name me what you want, I made this money because the system is so corrupt, no longer because I’m a genius,” says Wall Avenue fable Carl Icahn in a trailer out at the present time from HBO Documentary Movies. Icahn: The Restless Billionaire airs Feb. 15.
Icahn, who turns 86 next week, grew up in Some distance Rockaway, Queens with a schoolteacher parents a cantor at the native synagogue. He became a poker whiz to pay his manner via Princeton (where he majored in philosophy), dropped out of clinical faculty, joined the navy and sooner or later made his manner to Wall Avenue. There he hounded firms from Lionsgate and the worn Time Warner, to Yahoo (when it was fair) and Ebay along with oil firms, airways and gargantuan pharma. Within the tedious 1990s, he took adjust of Shock Comics in a contention with Ronald Perelman.
His playbook: identifying public firms he thinks are undervalued, making an strive to search out stock and pressuring CEOs to shake issues up. If they refuse, he’s waged big PR campaigns to woo shareholders, speed his have alternate slate of directors at annual meetings, and forced them to if he can.
He calls himself a corporate activist. His mantra: CEOs are overpaid and incompetent, boards are servile and shareholders haven’t got any recourse. Yes, firms he’s targeted have long past bankrupt, been equipped and shed many jobs. But he argues he’s moreover made a full bunch money for investors together with “the tiny guys” (along with accumulating tens of billion for himself) over the final half of century.
No chief govt wants Icahn — phase inspiration for Gordon Gekko, the ruthless corporate raider in Wall Avenue — to approach knocking. His targets have ranged from RJR Nabisco to Texaco, TWA to Lyft, Rubbermaid and Herbalife. In most cases Icahn’s a more passive investor, at one level owning 10% of Netflix. His high-profile investment in Apple in 2013 provoked a stock rise of $17 billion greenbacks — an carry out known on Wall Avenue as The Icahn Do away with.
In a brand new roughly project, the WSJ reported this week that’s he has no longer too long ago teamed with the Humane Society to rigidity McDonald’s over where it buys its pork.
The movie facets Icahn sprinkled with appearances by Microsoft co-founder Invoice Gates, Wall Avenue director Oliver Stone and a raft of exchange journalists together with Andrew Ross Sorkin (Contemporary York Cases), Cara Lombardo (The Wall Avenue Journal), Rana Foroohar (Financial Cases), Scott Wapner (CNBC) and Bryan Burrough (co-writer of the legendary Barbarians at the Gate), along with Icahn’s partner, daughter and son, who stands to be successful him.
Carl Icahn: The Restless Billionaire is an Atlas Media Corp. Manufacturing. It’s written, produced and directed by Bruce David Klein; produced by Alexander J. Goldstein; co-produced by Marc Kusnetz and Jim Bruce; govt produced by Jay Firestone. For HBO: senior producer, Tina Nguyen; govt producers, Nancy Abraham and Lisa Heller.
It debuts Tues., Feb. 15 (9: 00-10: 45 p.m. ET/PT) on HBO and will almost definitely be within the market to circulate on HBO Max.