Billionaire Carl Icahn is a born and bred New Yorker who has always run his business from Manhattan. However, this will soon change as he prepares to relocate himself, his office, and more than half of his staff to Florida early next year. The 83-year-old investor has expressed his growing fatigue with working in New York, a sentiment he has been contemplating for several years, according to close sources.
Several months ago, Icahn revealed to his team at Icahn Enterprises that he plans to shut down the Manhattan office by the end of March 2020, with the intention of launching a new office near Miami in April 2020. Having owned a home in the Miami area for many years, he is offering a $50,000 relocation package to those who choose to make the move. Conversely, employees who decide not to relocate will receive $50,000 in severance. Out of approximately 50 employees in New York, more than half are expected to make the transition south.
Icahn's decision is part of a broader trend among financial executives leaving New York for Florida's favorable climate and lower tax rates. Notable figures like David Tepper and Paul Tudor Jones have already made similar moves. Even at 83, Icahn remains dedicated to his work, often stating that it invigorates him, and he has no plans to retire. He is also committed to philanthropy, pledging to donate at least half of his $18 billion net worth.
| Attribute | Details |
|---|---|
| Name | Carl Icahn |
| Age | 83 |
| Current Residence | Florida |
| Previous Residence | New York |
| Net Worth | $18 billion |
| Philanthropy | Giving Pledge member |
Table of Contents
- Overview of Carl Icahn's Career
- Reasons Behind the Move
- Impact on Employees
- Trends Among Financial Executives
- Philanthropic Commitments
Icahn's relocation is seen as more than just a financial decision; it reflects a desire for a different lifestyle. The prospect of playing tennis after work year-round in Florida has proven to be more appealing than dining at trendy Manhattan restaurants and working late in his Midtown office.
This significant change not only marks a new chapter in Icahn's life but also emphasizes the shifting landscape of business operations as top executives seek environments that align with their personal and professional aspirations.
