Icahn Enterprises L.P. is an American conglomerate headquartered at Milton Tower in Sunny Isles Beach, Florida. The company has investments in various industries including energy, automotive, food packaging, metals, real estate and home fashion. The company is controlled by

Carl Icahn Carl Celian Icahn (; born February 16, 1936) is an American financier. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach. Icahn takes l ...

, who owns 88% of it.

History

The company was incorporated on February 17, 1987. In 2006, the company sold the

Sands Atlantic City Sands Atlantic City was a casino and hotel that operated from August 13, 1980 until November 11, 2006 in Atlantic City, New Jersey. It was formerly known as the Brighton Hotel & Casino. It consisted of a 21-story hotel tower with 532 rooms and a ...

hotel in

Atlantic City, New Jersey Atlantic City, often known by its initials A.C., is a coastal resort city in Atlantic County, New Jersey, United States. The city is known for its casinos, boardwalk, and beaches. In 2020, the city had a population of 38,497.

and several of the adjacent lots for $274.8 million to

Pinnacle Entertainment Pinnacle Entertainment, Inc. was an American gambling and hospitality company. It was acquired by Penn National Gaming in 2018. At the time of acquisition, it operated sixteen casino properties, located in Colorado, Indiana, Iowa, Louisiana, Missi ...

. In April 2007, the company sold its

American Casino & Entertainment Properties American Casino & Entertainment Properties (ACEP) owned and operated 4 casinos. It was purchased by Golden Entertainment in October 2017 for $850 million. ACEP was a casino holding company headquartered at the Stratosphere Las Vegas. ACEP was a who ...

to an affiliate of

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

, for $1.3 billion. In September 2007, American Real Estate Partners, another entity controlled by Icahn, merged with the firm and changed its name to Icahn Enterprises L.P. In 2008, the company acquired PSC Metals for $335 million. In February 2016, Icahn Enterprises purchased

Trump Entertainment Resorts Trump Entertainment Resorts, Inc. was a gambling and hospitality company. The company previously owned and operated the now-demolished Trump Plaza and Trump World's Fair (both in Atlantic City), the now-closed Trump Marina, Trump Casino & Hote ...

, which owned the

Hard Rock Hotel & Casino Atlantic City The Hard Rock Hotel & Casino Atlantic City (formerly Trump Taj Mahal) is a casino and hotel on the Boardwalk, owned by Hard Rock International, in Atlantic City, New Jersey. The casino, originally known as the ''Trump Taj Mahal,'' was inaugu ...

. The company sold the casino to the owners of

Hard Rock Cafe Hard Rock Cafe, Inc. is a British-based multinational chain of theme restaurants, memorabilia shops, casinos and museums founded in 1971 by Isaac Tigrett and Peter Morton in London. In 1979, the cafe began covering its walls with rock and rol ...

for $50 million in May 2017 - which represented a recuperation of just 4 cents on the dollar. Also in February 2016, the company acquired

Pep Boys Pep Boys is an American automotive aftermarket service chain. Originally named Pep Auto Supply, the company was founded in Philadelphia, Pennsylvania, in 1921 by Emanuel (Manny) Rosenfeld, Emanuel "Manny" Rosenfeld, Maurice "Moe" Strauss, Jack J ...

. In January 2017, the company acquired

Federal-Mogul Federal-Mogul Corporation is an American developer, manufacturer and supplier of products for automotive, commercial, aerospace, marine, rail and off-road vehicles; and industrial, agricultural and power-generation applications. It was acquire ...

. In June 2017, the company acquired Precision Auto Care, a chain of over 250 vehicle repair shops. In August 2017, the company sold the property formerly known as the

Fontainebleau Resort Las Vegas The Fontainebleau Las Vegas (formerly The Drew Las Vegas) is a hotel and casino currently under construction on the Las Vegas Strip in Winchester, Nevada. It is on the site previously occupied by the El Rancho Hotel and Casino and the Algiers Ho ...

for $600 million. The company had acquired the property in 2010 for $148 million. In October 2017, the company acquired American Driveline Systems. The company had 89,034 employees as of 2017. In October 2020, Carl Icahn announced his son Brett would succeed him as chairman of Icahn Enterprises and CEO of its investment subsidiary Icahn Capital LP. In November 2020, Icahn Enterprises reported third quarter losses of $714 million, compared to a loss of $49 million the same quarter the previous year.

Investments

The company owns the following:2021-10-K https://www.sec.gov/Archives/edgar/data/0001034563/000155837021002010/tmb-20201231x10k.htm *

* CVR - petroleum refining and nitrogen fertilizer manufacturing *

American Railcar Industries American Industrial Transport, a business formerly known as American Railcar Industries, is a specialist in railcar leasing and repair, headquartered in Saint Charles, Missouri. AITX, both the name and primary railcar mark, leases railcars in the ...

* PSC Metals * Ferrous Resources (77.2%) - owns mining rights in Brazil *

Viskase Viskase (formerly Visking) is a global corporation based out of Lombard, Illinois, United States that supplies plastic, cellulose, and fibrous film and packaging to the food service industry, including casings for processed meats such as hot dog ...

(74.6%) - produces cellulosic, fibrous and plastic casings for the processed meat and poultry industry. * Bayswater Development - a

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

company operating in

Vero Beach, Florida Vero Beach is a city in and the seat of Indian River County, Florida, United States. Vero Beach is the second most populous city in Indian River County. Abundant in beaches and wildlife, Vero Beach is located on Florida's Treasure Coast. It is thi ...

and

New Seabury, Massachusetts New Seabury is a census-designated place (CDP) in the town of Mashpee in Barnstable County, Massachusetts, United States, on Cape Cod. The area consists primarily of summer homes for wealthy families. Attractions include county cluband the Fells P ...

WestPoint Home WestPoint Home, Inc., is a supplier of fashion and core home textile products. WestPoint Home is headquartered in New York City with manufacturing and distribution facilities in the United States and overseas."WestPoint Home to Shutter Greenvil ...

- bed and bath fashion productions *

Vivus Vivus () is a small pharmaceutical company headquartered in Campbell, California, working in obesity, sleep, and sexual health. Vivus is developing an erectile dysfunction drug, Avanafil, that has completed Phase 3 clinical trials. The drug has b ...

- pharma

References

External links

{{Finance links , name = Icahn Enterprises L.P. , google = IEP , yahoo = IEP , bloomberg = IEP.US , symbol = IEP , sec_cik = IEP Conglomerate companies of the United States Holding companies of the United States Publicly traded companies based in New York City Companies listed on the Nasdaq American companies established in 1987 Holding companies established in 1987 1987 establishments in New York (state) Conglomerate companies established in 1987 Companies based in Miami-Dade County, Florida