The Feud: Bill Ackman vs. Carl Icahn

Activist investors, enemies.


The conflict: Ackman and Icahn first became enemies in 2004 after a deal went sour. More recently, they clashed over Ackman’s short position on Herbalife, which he says is a pyramid scheme. Icahn called in to CNBC in January when Ackman was on-air and the two sparred for nearly 30 minutes. Ackman called Icahn a “bully,” while Icahn compared Ackman to a “crybaby in the schoolyard.”

The outcome: As the fight wore on, Icahn even lashed out at the CNBC host. “Why the heck are you getting involved with it?” he snapped. The personal nature of the insults suggests these two won’t be making up any time soon. “Carl, you think I want to invest with you?” Ackman sneered at one point. Icahn’s reply: “I wouldn’t invest with you if you were the last man on Earth!”