Carl Ichan Sells Rest of his Chesapeake Stock, Good Riddance

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Carl Icahn – Evil Corporate Raider

Now that the damage has been done, evil corporate raider Carl Ichan has sold off the rest of his Chesapeake Energy stock–completely exiting the company. The one solace we have is that Ichan didn’t make any money from his dalliance with the company. He lost something like over $1 billion, according to our best guess (back in 2014 it was already $633M, see Carl Icahn Has Lost $633 Million on Chesapeake Gamble…So Far). We’ve chronicled the rise and fall of Ichan, and of Chesapeake, over the past four years. The purpose of investing, for people like Ichan, is to seize control of the company, fire a bunch of people, sell off a bunch of assets, which leads to a rise in the stock price. Said corporate raider then sells his shares and makes boatloads of money. Except that didn’t happen with Ichan’s investment in Chesapeake…

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