Corporate raiders reshaped business in the 1980s
In the 1980s, corporate raiders like Carl Icahn revolutionized Wall Street by using hostile takeovers and junk bonds to amass fortunes, forever changing corporate America.
The 1980s saw the rise of the modern corporate raider, with figures like Carl Icahn pioneering hostile takeovers. These individuals amassed fortunes by targeting undervalued companies, often using high-yield junk bonds to finance their bids. This allowed them to seize control without vast personal wealth upfront, as Icahn did with Trans World Airlines in 1985.
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