Most carborane derivatives of the icosahedral (C2B10) or small cage (C2B4) systems are formed by varying the groups on the cage carbon atoms. This is usually accomplished in the original carborane synthesis by treating substituted acetylenes with either the decaborane(14) or pentaborane(9) precursors to give directly carboranes that have adjacent carbon atoms in the cage (“carbon atoms adjacent”). The larger cages are obtained as closo‐icosahedra, while the small‐cage C2B4 carboranes have nido structures as well as a cage geometry in which the carbon atoms are separated by a boron atom. Although these “carbon atoms apart” or nido‐2,4‐(CR)2B4H6 carboranes are thermodynamically more stable and are more symmetric than the “carbon atoms adjacent” isomers, they have not been as well studied, mainly because they must be synthesized from their “carbon atoms adjacent” analogues through a sequential series of oxidative cage‐closure/reductive cage‐opening reactions. We have concentrated much of our recent research on the reactivity patterns of C(cage)‐appended alkyl‐ and silylamido, alkyloxo, alkylphosphido, and alkylthio derivatives of the “carbon atoms apart” carboranes. We have also sought to develop a safe, bench‐scale preparation of small‐cage carboranes that does not require isolating and handling dangerous and toxic carborane precursors such as pentaborane(9). This microreview discusses the latest developments towards such a process and the subsequent reaction chemistry of the “carbon atoms apart” carboranes. ((© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2003)