Billionaire Carl Icahn Returns Investors’ Money Worth $1.76B

By on Mar 9, 2011 in Business, Headlines, United States Comments
Billionaire Carl Icahn
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Billionaire Carl Icahn announced on Tuesday, March 8, 2011, that he is giving back about $1.76 billion to his investors, according to international sites.

Icahn, who previously attempted to get majority stakes in Yahoo Inc., RJR Nabisco and Revlon, has built a fortune by investing and influencing well-known companies.

According to Icahn, he wants to return his investors money because of a growing concern over the economic outlook and political tensions in the Middle East. “While we are not forecasting renewed market dislocation, this possibility cannot be dismissed,’’ Icahn said in a letter to his limited partners.

Reports say that about 25 percent or an equivalent of $1.76 billion of the total $7 billion that Icahn handles, are from outside investors.

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