Instead of scratching back his assets under management, Icahn cut himself loose from the burden of limited partners entirely.

FORBES: Carl Icahn Unleashed: Wall Street's Richest Man Is On The Attack -- Just Ask Michael Dell

In February, Michael Dell confirmed an offer to buy out his PC company for USD 24.4bn alongside Silver Lake Partners, which attracted competing bids from Carl Icahn and Blackstone.

FORBES: American Greetings Take-Private Is Chance To Retool An Aging Business

With both Carl Icahn and Blackstone Group leading separate efforts to outbid the Dell internal group (Michael Dell and Silver Lake Partners aided by Microsoft), Dell stands a chance of losing his job exactly the opposite of his intention when he set out on the journey to take the company private.

FORBES: Dell Has Put Itself In Exactly HP's Position