Tech billionaire Michael Dell mocks old foe Carl Icahn about his holding company’s plunging stock price

Dell Icahn

Michael Dell took photographs at his longtime foe Carl Icahn Tuesday.Diego Donamaria/CNBC/Getty Photos

  • Tech billionaire Michael Dell jabbed at his outdated rival Carl Icahn this week.

  • Dell mocked Icahn Enterprises’ plunging inventory worth in a put up on X.

  • Shares in Icahn’s holding firm have crashed 63% this 12 months, dragged down by an assault from short-seller Hindenburg Analysis.

Michael Dell took a shot at his outdated foe Carl Icahn Tuesday, mocking the investing legend’s struggles this 12 months within the newest twist in a decade-old feud between the 2 tycoons.

Shares in Icahn Enterprises, the holding firm managed by Dell’s longtime rival, have cratered 63% this 12 months. The tech billionaire made gentle of that by evaluating the inventory’s efficiency to the benchmark S&P 500 over the previous decade.

“Over the last 10 years, Icahn Enterprises inventory was down 80.7%,” he stated in a post on X. “S&P 500 was up 155.9%.”

“What’s the reverse of Play Good However Win?” Dell added, referencing the title of his personal 2021 autobiography, the place he slammed Icahn.

In Might, short-seller Hindenburg Analysis printed a report the place it disclosed it was betting towards Icahn’s firm. It stated the activist investor had intentionally inflated asset values and run his enterprise empire utilizing “Ponzi-like financial buildings”.

Since then the inventory has cratered 54%, extending its losses for the previous 10 years to over 80%, as Dell famous.

The billionaires’ feud began in 2013, when Icahn tried to cease Dell from taking the PC firm he based personal at a $24 billion valuation. Icahn constructed a stake and made a counter-offer, forcing Dell to ultimately up his bid to $13.88 a share.

Icahn later described Dell’s board as a “dictatorship” – and Dell responded by saying Icahn was “a foul man” with “no moral boundaries”.

Tensions reignited 5 years later, when Icahn sued Dell in an try and scupper its makes an attempt to go public. Icahn stated Dell and his personal fairness backers Silver Lake had been utilizing “scare techniques” to attempt to get the monitoring inventory VMWare’s shareholders to just accept a buyout provide.

Once more, the corporate was compelled to renegotiate, upping its provide from 60 cents on the greenback to 80 cents on the greenback to safe the deal and take Dell Applied sciences public as soon as once more.

Learn the unique article on Enterprise Insider

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