Icahn Enterprises Shares Jump To 7-Week High As Billionaire Chief Reportedly Fixes Loan Issue Flagged By Short-Sellers

by activist firm Hindenburg Research in its fiery May report revealing a short position in the company.Icahn inked new agreements with several banks which increased the amount of private collateral pledged for his personal loans, according to thePreviously, Icahn pledged about 60% of his Icahn Enterprises stake as collateral for these loans, Hindenburg alleged.

Shares of Icahn Enterprises rallied 14% to $33 in early Monday trading, hitting their highest price since May 18. Even still, the stock is still down 24% since May 1, the day before Hindenburg published its scathing report on Icahn.Icahn is worth $10.1 billion, according to our latest calculations, making him the 187th richest person in the world. Despite tacking on $830 million to his fortune Monday, Icahn is still far less rich than he was two months ago just before the Hindenburg report, when he was worth $18.3 billion.

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Icahn Enterprises' stock climbs 5.7% after report of amended loan agreementIEP pops after a report that Carl Icahn and banks finalized amended loan agreements that untie his personal loans from the trading price of his company.
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