The CEO Diary with Fexingo · 2026-07-13 · 10 min
Episode 112 of The CEO Diary dives into the career arc of Carl Icahn, the original activist investor, and how he adapted his playbook from the junk-bond era to today's ESG-conscious market. Lucas and Luna unpack Icahn's $1.8 billion stake in Illumina and his battle over the Grail acquisition, comparing it to his early campaigns at TWA and Texaco in the 1980s. They explore the shift from hostile takeovers to proxy fights and board influence, and how Icahn's model has influenced a new generation of activists like Elliott Management and Starboard Value. The episode also examines whether the old-style 'corporate raider' can still win in an age of stakeholder capitalism - or if Icahn's recent mixed results signal a changing of the guard. Specific numbers: Icahn's 16.5% return over 10 years vs. the S&P 500's 220%. #CarlIcahn #ActivistInvesting #Illumina #Grail #CorporateGovernance #ShareholderActivism #ProxyFight #BoardSeat #ElliottManagement #StarboardValue #TWA #Texaco #JunkBond #ESG #StakeholderCapitalism #Business #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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