🚨We have another victim of Hidenburg Research.🚨
📉 Corporate activist Carl Icahn's fortune suffered a record $10 billion loss after the well-known Hindenburg Research accused him of using a "ponzi-like" economic structure at his investment firm. Icahn Enterprises LP, his publicly traded limited partnership, saw its biggest-ever drop of 20%.
The 🔍 Hindenburg accused the company of excessive debt, trading at an extreme premium to net asset value and questioned the valuation of some investments. Icahn called the report "self-serving" and designed solely to generate profits from Hindenburg's short positions.
📊 Icahn's fortune plunged 41% to $14.6 billion, according to the wealth index, dropping him from 58th richest person in the world to 119th. Hindenburg has a history of successful short attacks that have caused other billionaires' fortunes to fall.
How will it work out this time? And who do you think will be next ?
I didn't expect an announcement to cause such a drop.