Carl Icahn Loses $10 Billion In Hours After Hindenburg Report

Carl Icahn's wealth dropped by $10 billion after a scatching report from Hindenburg Research.

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Hindenburg claims Icahn Enterprises used inflated asset valuations and has "Ponzi-like" economic structures.

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The report alleges Icahn Enterprises used new investor money to pay out dividends to old investors.

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Icahn's net worth is now $14.6 billion, down 41% from Monday.

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Icahn Enterprises responded, calling the report "self-serving."

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Icahn Enterprises has $2 billion of cash and cash-equivalents on its balance sheet.

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Shares of Icahn Enterprises closed 20% lower at $40.36 on Tuesday.

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