Carl Icahn’s wealth plunges $10 billion after Hindenburg report

Corporate activist Carl Icahn’s fortune tumbled more than $10 billion on Tuesday after short-seller Hindenburg Research accused him of using a “ponzi-like” economic structure at his investment company.

Icahn Enterprises, his publicly traded limited partnership that operates as a holding company, fell by 20 per cent — the most on record — erasing $3.1 billion from his fortune. Hindenburg also detailed the investor’s margin loan collateralised by his stake in the company. That lopped off ...