Icahn may sell his yacht `Starfire' for $37.5 million: report

18 October 2008

Billionaire investor Carl Icahn has offered to sell his 177-foot motor yacht, the Starfire, for about $37.5 million, reports citing sources at brokerage firm Northrop & Johnson said.

Icahn,72, who made a fortune on his ImClone holdings, is selling his beloved yacht, just when markets nosedive to levels not seen since 2002.

Icahn had consistently made money by turning around troubled companies, but is facing tougher times now. His company, Icahn Enterprises, is down 76 per cent this year and his hedge funds are now some of their worst performers with investments in some now-loss-making companies, including Motorola and Yahoo.

The vessel, which boasts of a helipad, jacuzzi, gym, personal chef, high-speed wireless internet access and Quantum Zero speed stabilisers, can accommodate 12 guests in six luxurious rooms, according to the brokers.

The floating palace may cost up to $3 million a year to operate and requires a staff of 12 to run it, according to reports.

An activist shareholder, Icahn had a net worth of roughly $14 billion and was ranked 46th in a Forbes magazine's list of the world's richest people, published in March.