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Carl Icahn Sells The Rest Of His Herbalife Stock

Carl Icahn has sold his remaining stake in Herbalife Nutritional Ltd., according to the company.

Following a high-profile dispute with billionaire hedge fund manager William Ackman, who had taken a $1 billion short position in Herbalife stock in 2012 and then launched a campaign against the firm, Icahn Enterprises became an activist for Herbalife, investing over a billion dollars and taking five positions on the company’s Board of Directors.

Because of this investment and Icahn’s advice, Ackman was able to close his short position in the stock in 2018.

In January 2021, Icahn Enterprises returned $600 million in common stock to the corporation and relinquished its five board positions.
Last week, Icahn completed the selling of the remaining stock.

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