Carl Icahn’s holding company, Icahn Enterprises, lost $49 million in the third quarter, bringing its year-to-date loss to $941 million, it reported Tuesday. The vast majority of the losses came from Icahn’s investment portfolio.
Coming at a time when the stock market is reaching new heights, the stunning losses recall the three-year period between 2014 and 2016, which Icahn also ended in the red, largely due to bad energy bets.
