Some wonder if Icahn’s empire is crumbling

American Empire Is Crumbling


Ever since the New York firm Hindenburg Research released a report accusing Icahn Enterprises L.P. of a “Ponzi scheme,” the debate and discussion have grown whether billionaire Carl Icahn could be seeing his empire falling apart.

After all, he has lost billions of dollars since the report was published. Or is the speculation just that—someone filling the airwaves and internet with something to keep the story alive?

Icahn, if you recall, is the well-known corporate raider who first became known in Oklahoma in the 1980s when he attempted a takeover of then-Phillips Petroleum in Bartlesville. It was 1985 and he offered more than $8 billion for the company.

Over the years, his wealth has grown and his takeovers included Oklahoma City-based SandRidge Energy, of which he is still the majority holder of shares. He also is the majority share-holder of CVR Energy,  operator of the Wynnewood Refinery and a refinery in Coffeyville, Kansas.


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