Carl Icahn Dumped Millions In Stock Tied To Steel Before Trump’s Tariffs Announcement by the Forward

Carl Icahn Dumped Millions In Stock Tied To Steel Before Trump’s Tariffs Announcement

Image by Twitter

Trump confidant and billionaire corporate raider Carl Icahn got a lucky break on a conspicuous trading decision last week, ThinkProgress reported.

SEC filings from February 22 show that Icahn dumped a million shares of an American company that relies heavily on use of steel imports — roughly a week before Donald Trump announced a planned 25% tariff on steel imports. Icahn sold off shares of Manitowoc Company, Inc., which makes construction cranes and “lifting solutions.”

When Trump made his announcement, the construction industry was hit hard. Manitowoc lost 6% of its value. Today, the company’s stock was trading around $26. Icahn sold his shares for between $32 and $34 each. This February marked Icahn’s first trades of his Manitowoc stock since 2015.

Icahn is a famously close confidant of Trump, with various news outlets reporting that the two speak multiple times a week. Icahn quit an advisory role in the White House after concerns emerged over conflicts of interest. In particular, Icahn drew criticism for pushing a biofuel policy that would benefit an energy company he owns.

Over the course of his early career, Icahn gained a reputation as a corporate raider for his leveraged takeovers of various companies.

Contact Ari Feldman at or on Twitter @aefeldman


Ari Feldman

Ari Feldman

Ari Feldman is a staff writer at the Forward. He covers Jewish religious organizations, synagogue life, anti-Semitism and the Orthodox world. If you have any tips, you can email him at Follow him on Twitter @aefeldman.

Carl Icahn Dumped Steel Stocks Ahead Of Trump Tariffs

Your Comments

The Forward welcomes reader comments in order to promote thoughtful discussion on issues of importance to the Jewish community. All readers can browse the comments, and all Forward subscribers can add to the conversation. In the interest of maintaining a civil forum, The Forward requires that all commenters be appropriately respectful toward our writers, other commenters and the subjects of the articles. Vigorous debate and reasoned critique are welcome; name-calling and personal invective are not and will be deleted. Egregious commenters or repeat offenders will be banned from commenting. While we generally do not seek to edit or actively moderate comments, our spam filter prevents most links and certain key words from being posted and the Forward reserves the right to remove comments for any reason.

Recommend this article

Carl Icahn Dumped Millions In Stock Tied To Steel Before Trump’s Tariffs Announcement

Thank you!

This article has been sent!