Carl Ichan Ups Ownership of Chesapeake, Continues to Lose $

Corporate Raider Carl Ichan continues his stranglehold on Chesapeake Energy. Ichan, you may recall, holds the second highest number of Chesapeake shares of stock and was largely the person responsible for booting Aubrey McClendon from the company he co-founded in April 2013 (see McClendon Exits Chesapeake, Well-Bonused “Friends” Replace Him). In the lead-up to ejecting McClendon, Ichan increased his ownership in the company, starting in November 2012 (see Carl Ichan Ups Stake in Chesapeake Energy). He upped his ownership again after McClendon left, in August 2013 (see Corporate Raider Carl Ichan Ups Stake in Chesapeake – Again). How has that worked out for Carl? He’s losing money hand over fist (see Carl Icahn Has Lost $633 Million on Chesapeake Gamble…So Far). But channeling his inner Britney Spears (“Oops I Did It Again”), Carl just can’t get enough of the money-losing Chessy. He’s just increased his stake again–to 11% of the company. He remains Chessy’s #2 stockholder, behind fellow corporate raider Mason Hawkins…

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