July 31, 2021

Carl Icahn pockets $ 700 million thanks to the election of Donald Trump

Carl Icahn is an 80-year-old American businessman and businessman. He is the founder and majority shareholder of Icahn Enterprises, a New York-based diversified conglomerate holding company. Carl Icahn is recognized as a successful businessman since he has built a personal fortune which to date is estimated at nearly $ 16 billion by Forbes magazine, which would rank him 26th among the most great fortunes in the world. Recently Carl Icahn has been talked about and you can imagine, it is in relation to a big money story.

Carl Icahn is involved in many areas, but in recent days, it is his hedge fund that has been the subject of much ink in the financial press. It is thanks to his hedge fund that Carl Icahn partly built up his fortune, which obviously has not finished growing. In just 72 hours after the election of Donald Trump, Carl Icahn said he had generated 700 million dollars in profits thanks to its speculative investments in the financial markets.

While Carl Icahn, support of Donald Trump participated in the party organized by the new president, he quickly left to return to his computers to take a position on the financial markets. He took a position for $ 1 billion on futures contracts on the US stock index S & P500. If Icahn took a position on the stock market index, it is because it lost 5% of its value following the election of Donald Trump. The next day, the index recovered and climbed by 7%. In an interview following his performance, the hedge fund manager said that the index plunged by 5% and the markets panicked for no real reason, so he was confident about the price correction and took a stand. for a billion dollars to purchase. The market surge that has occurred has directly benefited Carl Icahn and allowed him to pocket the jackpot of approximately $ 700 million.

Carl Icahn is not the only one to have benefited from the election of Donald Trump as the new president of the United States. It seems that another hedge fund manager, John Paulson, would also have pocketed $ 500 million in profits by speculating on the surge in pharmaceutical stocks in which he has invested a lot (subject mentioned in our article: Donald Trump elected president of the United States, the impact on financial markets). And do you, as a forex trader and at the retail level, have you benefited from the election of Donald Trump? smiley