New Delhi: American billionaire and corporate activist Carl Icahn have now come under attack from American short seller firm Hindenburg Research. By issuing a report against Carl’s company Icahn Enterprises LP, Hindenburg has alleged that Icahn Enterprises has adopted an economic structure like a Ponzi scheme. After the Hindenburg report came out, Carl Icahn’s wealth decreased by more than Rs 81,809 crore ($ 10 billion) in a single day on Tuesday. Shares of Icahn Enterprises LP fell by up to 20 percent after Hindenburg Research’s report came out.
Significantly, Hindenburg Research released a controversial report in January against India’s Adani Group. After this report came out, there was a huge fall in the shares of Adani group companies. Till now the Adani group has not been able to recover from this blow. After Adani, the short seller firm also targeted Block Inc, the company of Twitter co-founder Jack Dorsey.
Shares fell 20 percent as soon as the report came
After the arrival of Hindenburg’s report, there was a tremendous selloff in the shares of Icahn Enterprises LP on Tuesday and the shares fell by 20 percent. This company acts as the holding company of Carl Icahn. Carl Icahn’s wealth declined by $ 3.1 billion due to a sharp fall in the company’s share price. The short seller firm also discussed Carl Icahn’s stake in Icahn Enterprises, which has been taken as a mortgage loan. Earlier their margin was not calculated in determining net worth by Bloomberg Billionaires Index. Now the index has started including it too. In this way, there was an additional loss of $ 7.3 billion from here in the calculation of Carl Icahn’s net worth. In this way, his wealth fell by more than 10 billion dollars in a day.
Reached number 58 to 119 on the list of billionaires
According to the Bloomberg Billionaires Index, Carl Icahn was the 58th richest person in the world with a net worth of $25 billion prior to the Hindenburg report. After the report came, his wealth fell by 41 percent to $ 14.6 billion. After this decline, Carl Icahn also dropped out of the top 100 list of the world’s richest people. Now he is in the 119th position in this list.
