Business

In Icahn investments, son also rises

Brett Icahn is firing on all cylinders down a road less taken (by his dad, anyway).

Carl Icahn’s son, 33, is making his father tech-savvy, but with a decidedly different approach than America’s most famous activist is used to taking.

Brett spotted what he considered an undervalued stock in Take-Two Interactive, the maker of the “Grand Theft Auto” video games, and his father’s firm in January 2010 revealed it had accumulated an 11 percent stake.

The son soon after became a board member. But unlike his father, Brett has gained a reputation for letting management execute and seeing board members as peers.

However, Carl has hardly been a silent partner. In fact, after Brett spotted the Take-Two opportunity, Carl turned to long-time investment partner Strauss Zelnick to shake up the board, a source close to the situation told The Post.

An analyst who requested anonymity told The Post that Take-Two’s management is weak and its Rockstar Games development team essentially calls the shots.

“That’s why ‘Grand Theft Auto’ was delayed, delayed, delayed,” the analyst said.

Management had to give the Rockstar team autonomy to keep them at the company, the analyst said.

Despite all that disarray, last week Take-Two said the fifth and latest installment of the GTA franchise rang up $800 million in first-day sales, blowing past the previous $500 million record set by Activision’s “Call of Duty: Black Ops 2.”

Since 2010, the shares have risen from $10 to close last week at $16.99.

Overall, team Icahn has made roughly $200 million from Take-Two, of which it now owns a 13 percent stake.

Carl Icahn, who declined comment for this article, has credited Brett and David Schechter, 37, with being more tech-adept than he is and with finding investment opportunities in Netflix, Apple and voice-technology company Nuance, as well as Take-Two.