Jump to Main ContentJump to Primary Navigation

This billionaire just dumped all his Apple shares


Carl Icahn is a very rich, very smart man.

With a net worth thought to be in the region of $21.3 billion (£14.4 billion), his conglomerate Icahn Enterprises invests in... well pretty much everything. Icahn has taken a controlling position in corporations including Texaco, Time Warner, Netflix and Western Union.

In short, Carl Icahn knows what to do with his cash. Which is why it's very interesting that he's just sold his massive stake in Apple.

It's thought that Icahn will have made around $2bn (£1.37bn) from selling over 50 million shares in Apple - but he wasn't looking to sell to make some cash (he's got quite a bit). He was concerned by the tech firm's dwindling prospects in China. 

Icahn told reporters that China's economic slowdown and concerns over the government's ability to interfer with the activities of companies "hastened" his exit from Apple shares. "China obviously could be a shadow for it," he told CNBC.

In addition to stiff competition from China's Huawei smartphone group and Samsung's dominant presence, China recently passed a law that required all digital content provided in the country to be stored on serves based in the nation - having drastic implications for Apple's iBooks and iTunes movies services. If Apple can't be a major player in China, that's not great news for its investors.

Icahn apparently called Apple CEO Tim Cook to inform him of the reasons for the sale. 

"I called him this morning to tell him that, and he was a little sorry, obviously. But I told him it's a great company," said Mr Icahn.

No, it's not the beginning of the end of Apple - but it adds further pressure on the tech giant to come up with a new piece of gadget magic in the coming months. 

iPhone Air? The Apple Car? Apple VR? They need something...

[Via: BBC]

(Images: Rex)



iPhone users are going to love this new keyboard app


Things don't look good for Apple and the iPhone 7


This headphone patent could piss off a lot of Apple fans


Fidget spinners might contain deadly levels of lead

Is your toy slowly poisoning you to death?

by Gary Ogden
02 Jun 2017

We might be about to get smartphones that charge fully in five minutes

An Israeli start-up claims it's going to go into production next year

by Tom Mendelsohn
15 May 2017

5 of the best fidget toys on the market right now

Tackle your knuckle cracking head on

by Matt Tate
10 May 2017

Some Italians have created a phone cover that also makes espresso

No, we don't know why either

by Tom Mendelsohn
08 May 2017

New app will rebalance the London rental market in favour of landlords

Finally, the capital's hard-up property owners will get their due with Rentberry

by Tom Mendelsohn
26 Apr 2017

This knife-toting robot playing stabby hand will make you nervous

I for one welcome our new robot overlords

by Tom Mendelsohn
25 Apr 2017

Now you can turn your iPhone into a retro mac

For the man who has everything

by Tom Mendelsohn
21 Apr 2017

The best turntables of 2017

How the tables have turned

by David Cornish
20 Apr 2017

The Tamagotchi is back

Great news for fans of neglecting responsibilities and watching tiny creatures literally shit themselves to death!

by Emily Reynolds
11 Apr 2017

Self-healing smartphone screens could exist by 2020

Could it be curtains for shady smartphone repair stalls across Britain?

by Tom Mendelsohn
05 Apr 2017