Carl Icahn Sells Herbalife Stake, Ending Feud with Bill Ackman
Background of the Feud
The feud between Carl Icahn and Bill Ackman began in 2012 when Ackman accused Herbalife of being a pyramid scheme. Icahn, on the other hand, took the opposite position, amassing a large stake in the company.
Icahn's Billion-Dollar Profit
In an interview with CNBC, Icahn revealed that he had made a $1 billion profit from his investment in Herbalife. The sale of his remaining stake puts an end to the long-standing feud with Ackman, who had lost billions in his short position against the company.
The On-Air Brawl
In 2015, the feud between Icahn and Ackman reached a boiling point on live television. During an interview on CNBC, they engaged in a heated exchange, accusing each other of spreading misinformation and manipulating the market.
Feud Continues After Ackman's Short Position
Despite the on-air brawl, the feud continued to simmer. Ackman maintained his short position against Herbalife, while Icahn remained a staunch supporter of the company.
Hedge Fund Manager Feud
The feud between Icahn and Ackman is notable because it involves two of the most prominent hedge fund managers in the world. Their opposing views on Herbalife and their public confrontations have been widely covered in the financial media.
Herbalife Stock Performance
During the course of the feud, Herbalife's stock price has been volatile. The company's shares have been subject to significant fluctuations as investors have weighed the opposing views of Icahn and Ackman.
End of the Feud
With Icahn selling his remaining stake in Herbalife, the long-standing feud between the two hedge fund managers has come to an end. The sale puts a close to one of the most high-profile and controversial disputes in the financial world.
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