Icahn Nets $3.4B To Date On Apple Inc. (AAPL) Stake

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Icahn Nets $3.4B To Date On Apple Inc. (AAPL) Stake
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The legend of billionaire investor Carl Icahn continues to grow. Icahn has been a successful investor for more than 50 years, but most of his biggest successes have come in the last decade or so. Take his investment in Apple, for example. According to CNBC, Icahn has made about $3.4 billion from his investment in the iPhone maker since he initially tweeted about his position back on August 13th, 2013.

More on Carl Icahn and Apple (AAPL)

Icahn’s incredibly profitable investment in Apple (NASDAQ:AAPL) puts him in rarefied company. John Paulson made nearly $15 billion in profits shorting subprime mortgages in 2007; Icahn contemporary George Soros brought home an estimated $1 billion in a massive short against the British pound in 1992; David Tepper’s Appaloosa Management made more than $7.5 billion investing in financial stocks in 2009; and Bill Ackman pocketed at least $3 billion holding onto General Growth Properties from the lows in 2008 to the highs in 2014.

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When asked if he thought his Apple (NASDAQ:AAPL) trade was one of the greatest of all time in a recent interview, Icahn wouldn’t talk about his profits, but told CNBC: “I will certainly say Apple is one of the greatest companies of all time.”

Icahn owns more than 52 million shares of Apple (NASDAQ:AAPL) as of his last SEC filing, and says he plans to make much more money on Apple in the future.

Icahn Sent letter To Apple CEO Cook on Monday

Icahn sent a letter to Apple CEO Tim Cook on Monday, saying he believes the firm’s shares are worth $240, which is a solid 90% higher than the current share price of around $130. In his letter, the billionaire said he believed that the $240 share price was justified as it’s likely Apple will become a major player in both the  television and automobile sectors in the next few years.

If Icahn is right, Apple (NASDAQ:AAPL) would be the world’s first $1.5 trillion company. The letter sent on Monday, which was also written by Brett Icahn and David Schechter, called on cook to lead the BoD to adopt even higher share buybacks than those currently planned.

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