Here's How Carl Icahn Made $2 Billion On Netflix [Chart]

Netflix has been a windfall for Carl Icahn, but now the ride has officially ended.

In a classic style of the mogul investor, Carl Icahn took to Twitter to announce his exit of Netflix. Since buying an initial stake worth $321 million in 2012, the investor has made more than $1.9 billion over the past three years, according to FORBES’ estimate based on Icahn Enterprises’ filings.

Sold last of our $NFLX today. Believe $AAPL currently represents same opportunity we stated NFLX offered several years ago.

— Carl Icahn (@Carl_C_Icahn) June 24, 2015

If the mogul had held onto all the shares, Icahn’s initial position of $321 million in 2012 (10% of Netflix at the time) could be worth $3.8 billion. His son Brett Icahn, who first brought to the deal to his father’s attention, wanted to keep all their Netflix shares while the billionaire investor decided to cut back, slicing their positions in half in 2013. “When you are lucky and/or smart enough to have made a total return of 457 percent in only 14 months it is time to take some of the chips off the table,” the elder Icahn wrote at the time.

Despite Netflix hitting an all-time high after announcing 7-1 stock split on Tuesday, Icahn cited increasingly strong competition for the TV and movie streaming service in an interview with CNBC on Wednesday afternoon. Now the billionaire investor is hoping to replicate his success in Netflix with a big bet on Apple . As of March 31, his flagship fund owns about 53 million shares of Apple stock (worth of $6.6 billion), the biggest stake he holds in terms of market value.

In addition to his announcement about Netflix, Icahn also shared his thoughts on the current state of the market on Twitter. “I believe the market is extremely overheated – especially high yield bonds,” Icahn wrote in his tweet. “If more respected investors had warned about the market in ’07, we might have avoided the crisis in ’08.”