February 11, 2009 3:20 PM
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The Icahn Lift
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In this Thursday, May 31, 2012, job seekers gather for employment opportunities at the 11th annual Skid Row Career Fair at the Los Angeles Mission in Los Angeles. U.S. employers created 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering. (AP Photo/Damian Dovarganes, File) (Damian Dovarganes)
He says that too often boards of directors don't hold management's feet to the fire. So, other investors often call on him to step in. "Hey, I get calls all day from smart guys, hedge funds and all, 'Come, Carl, Why don't you look at this one?'" Icahn said.
He loves a good fight, no doubt about it.
For one, many of his paintings in his office hallways depict battles. Many a CEO has passed by the bloody scenes of a warrior vanquishing his enemies as they head to a meeting with Icahn.
"Does it tell me something about you is what I'm trying to figure out?" Stahl asked.
"Not really. Sends a slight message to people who come," Icahn said.
"With the sword in the hand?" Stahl asked.
"Yeah," Icahn told her.
Even as a kid, his mother said he was like Genghis Khan. He was an only child growing up during the Depression in Far Rockaway, part of Queens, New York.
"My father said, 'Son, look you have no talent.' Really. I said, 'Well thanks Dad, thanks for making me feel good about that,'" Icahn recalled.
Clearly, Mr. Icahn didn't "get" his son, who was smart and ambitious.
Icahn got into Princeton and paid for half his tuition with his winnings at the poker table. "I was always very good - I don't know if you call it talent or whatever, I was always good at making money," Icahn said.
Was he ever: now he's the 24th richest man in the United States, said to be worth $14 billion.
He's married to Gail Golden, his second wife and former assistant. Because he is such a workaholic, Gail says they have little time to enjoy the money he's made.
Icahn says they have a yacht but that they don't use it much. He also says they have a lot of houses but that they don't go there often.
"Can she have anything she wants?" Stahl asked.
"She takes it," Icahn said, laughing. "She doesn't ask me, you know."
So how do they spend their money? More and more on philanthropy, like building a track and field stadium for the schoolchildren of New York City, and building two charter schools in poor neighborhoods in the Bronx. These are overseen by Icahn's foundations, which Gail runs.
Golden works in the office, and so does his son, 28-year-old Brett.
Brett, an analyst at the Icahn firm, plays chess with his dad on the weekends, for money of course. And recently, Brett began winning.
"Beat the hell out of me. I tell them how you beat the hell out of me," Icahn said.
"Oh, no, no, he's too good. He's too good. He just says that because he wants to get odds," Brett said.
"That's bull, he beats me," Icahn insisted.
"I heard that you went out and hired somebody to teach you to play better so you can beat him again," Stahl asked.
"Yeah, I did," Icahn admitted. "I got a Grand Master."
Copyright 2009 CBS. All rights reserved. He loves a good fight, no doubt about it.
For one, many of his paintings in his office hallways depict battles. Many a CEO has passed by the bloody scenes of a warrior vanquishing his enemies as they head to a meeting with Icahn.
"Does it tell me something about you is what I'm trying to figure out?" Stahl asked.
"Not really. Sends a slight message to people who come," Icahn said.
"With the sword in the hand?" Stahl asked.
"Yeah," Icahn told her.
Even as a kid, his mother said he was like Genghis Khan. He was an only child growing up during the Depression in Far Rockaway, part of Queens, New York.
"My father said, 'Son, look you have no talent.' Really. I said, 'Well thanks Dad, thanks for making me feel good about that,'" Icahn recalled.
Clearly, Mr. Icahn didn't "get" his son, who was smart and ambitious.
Icahn got into Princeton and paid for half his tuition with his winnings at the poker table. "I was always very good - I don't know if you call it talent or whatever, I was always good at making money," Icahn said.
Was he ever: now he's the 24th richest man in the United States, said to be worth $14 billion.
He's married to Gail Golden, his second wife and former assistant. Because he is such a workaholic, Gail says they have little time to enjoy the money he's made.
Icahn says they have a yacht but that they don't use it much. He also says they have a lot of houses but that they don't go there often.
"Can she have anything she wants?" Stahl asked.
"She takes it," Icahn said, laughing. "She doesn't ask me, you know."
So how do they spend their money? More and more on philanthropy, like building a track and field stadium for the schoolchildren of New York City, and building two charter schools in poor neighborhoods in the Bronx. These are overseen by Icahn's foundations, which Gail runs.
Golden works in the office, and so does his son, 28-year-old Brett.
Brett, an analyst at the Icahn firm, plays chess with his dad on the weekends, for money of course. And recently, Brett began winning.
"Beat the hell out of me. I tell them how you beat the hell out of me," Icahn said.
"Oh, no, no, he's too good. He's too good. He just says that because he wants to get odds," Brett said.
"That's bull, he beats me," Icahn insisted.
"I heard that you went out and hired somebody to teach you to play better so you can beat him again," Stahl asked.
"Yeah, I did," Icahn admitted. "I got a Grand Master."
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