Wall Street legend Carl Icahn has sold his remaining stake in Herbalife. The company has now announced that.
Icahn Enterprises became a white knight for Herbalife following a battle with billionaire hedge fund manager William Ackman, who shortened Herbalife stock for $ 1 billion in 2012 and then began a campaign against the company. Icahn invested more than a billion dollars and received five seats on the board of directors. The Icahn Invest resulted in Ackman closing his short position on Herbalife in 2018 after a fierce battle.
Icahn Enterprises sold 600 million of its common stock returned to the company and gave up his five seats on the Board of Directors in January 2021.
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