The Three Major Tools of "Corporate Predators" - Icahn mainly uses three major investment vehicles to amass wealth.

One is his hedge fund, the Icahn Partnership, founded in 2004.

The fund requires a minimum investment of $25 million.

As a sponsor, Icahn's own firm will charge an annual fee of 2.5% and 25% of annual net profits, which is higher than the average hedge fund (other hedge funds typically charge only 1% and 20%, respectively).

Today, the fund manages $7 billion in capital, of which Icahn himself contributed $1.5 billion.

The fund mainly invests in the area of ??hostile takeovers that Icahn is good at: by holding shares of public companies, and then working hard to promote reforms in company management or strategy, so that the company's shares and value can rise rapidly in a short period of time.

According to investors, the Icahn Partnership Fund, which was established less than three years ago, has an annual return on investment of up to 40% and an after-tax net profit margin of 28%.

American Real Estate Partners (AREP) is Icahn's second investment vehicle, which is also a private investment fund.

Over the past two years, AREP*** has created approximately $4 billion in shareholder wealth.

The fund's strategy is to buy a company at a low price that no one wants to buy and the only way to go bankrupt is to run the company well, usually hold it for six or seven years, and then sell it at a high price to make huge profits when the company is favored by the market.

Icahn used this method to make many moves in real estate, casinos, energy and other fields, and it worked repeatedly and made huge profits.

Companies bought by the fund in the 1990s were sold for six times what they were purchased for.

These are not all, there is a third one: Icahn personally invested US$5 billion in rail transit manufacturing company ARI, bankrupt auto parts company Federal-Mogul, and metal recycling company Philip Services.

He also holds controlling shares in cancer drug manufacturer ImClone and telecommunications services company XO Communications.