Business News

Carl Icahn's son to launch company with partner

Brett Icahn and Carl Icahn in 2004.

The son of activist investor is venturing into his own business with a partner, Dow Jones reported Thursday.

Icahn: We are not disservice on boards

Brett Icahn and David Schechter currently work for the senior Icahn's company and will launch a hedge fund management company, the wire service said.

With this arrangement, Dow Jones said the two will have part ownership of the new company.

Read MoreBoards shouldn't be country clubs: Carl Icahn

"He's a good guy. I feel very proud of him. He and his partner have done extremely well," the senior Icahn said of his son during an interview in April. He's tougher than me."

—By with Dow Jones.