The Investor Who Missed the Chance to Make Millions With Netflix
Grow Your Business, Not Your Inbox
It was October 2013 when famous Wall Street investor Carl Icahn began selling his shares in a DVD rental company that had recently managed to switch to streaming. Icahn had already made a 457% return on his initial capital injection so he decided to retire. His son Brett begged him not to, but the investor went on to finally sell in 2015, earning $ 2 billion for his shares.
The company that Icahn left? Netflix .
Since then, the price of the entertainment company's stock has increased by almost 10. However, Ichan has no regrets about his decision.
In a recent interview with the US version of Forbes , Icahn indicated that the market was telling him that it was time to "take some chips off the table."
The 85-year-old Icahn illustrates the change on Wall Street, Forbes suggests, as companies with less tangible assets like GameStop and Bitcoin have grown, while old-guard investors like Ichan continue to bet on wealth-rich companies. assets and cash that need restructuring.
As reflected in Nathan Vardi's article , this investor's strategy is not totally wrong. His company Icahn Enterprises owns shares in the CVR Energy refinery and the retailer Pep Boys, which are trading at about $ 60, growing 20% a year.
It also has Occidental Petroleum investments, bullish shares thanks to the recovery in the price of crude oil to 60 dollars a barrel since last year.
With everything and his "mistake" with Netflix, Carl Icahn's net worth is around $ 15.8 billion. Almost nothing.