Decline of Ron Perlman and Carl Icahn

Ron Perlman and Carl Icahn, once titans of Wall Street, have both seen significant declines in their fortunes in recent years. Perlman, who reached a peak net worth of about $20 billion, faced challenges largely due to his heavy leverage with banks and poor performance of his investments during the COVID-19 pandemic. His company, Revlon, filed for bankruptcy, leading him to sell off many of his assets, including art worth nearly a billion dollars, to cover his debts. Similarly, Icahn, who lost around $20 billion, attributed his losses to hubris and mismanaged investments, with his focus on attracting investors through unsustainable dividend payments exacerbating his financial issues.