Billionaire Icahn borrowed $118.7 million from charity he started

A charity started by Carl Icahn lent the billionaire a substantial amount of money, according to the Wall Street Journal.

Icahn's loan from the Foundation for a Greater Opportunity hit $118.7 million, according to the Journal.

The debt, which Icahn repaid, came in the form of IOUs, given in lieu of payment when Icahn bought back some stock shares, according to WSJ.

The shares in question were from a railroad company, owned by Icahn, that had recently gone public, according to the Journal. Shares of this same company were used to initially fund the charity.

Read the full report at the Wall Street Journal.