Carl was heir to the Eicken Skin Care family fortune, a company founded in the mid-1800's that sold petroleum-based skin creams and balms to cultured women in New York. Carl took over the company when he was too young to handle the responsibility, and his greedy and reckless nature soon brought the company to the brink of bankruptcy after his newest product was found to contain cancer-causing agents. Using his business saavy, sheer force of will and exceptional luck, Carl managed to save the company -- though it would never regain its domination of the marketplace. Ashamed and broken by this pyrrhic victory, Carl left Eicekn's Skin Care and drifted out of society like a newspaper carried on the wind.
Of course, there are also rumors that Carl fed the safety deposit box keys to a pet alligator he keeps in the sewers...but that can't be true.