Cationic ionenes bearing hydrophobic side chains were synthesized, which behave as micellar polymers of the polysoap type. The hydrophobic chains were either hydrocarbons or fluorocarbons, or a mixture of both, in the form of statistical as well as block copolymers. These amphiphilic polymers were studied and compared with each other and with low molar mass analogous surfactants, especially with respect to their hydrophobic association in aqueous solution. The particular molecular structure of the ionenes synthesized results in polymeric surfactants with high mobility of the fluorocarbon chains. Most noteworthy, the behavior of the hydrocarbon-fluorocarbon block copolymer soaps in aqueous solution indicates microphase separation into hydrocarbon-rich and fluorocarbon-rich hydrophobic domains, thus yielding multicompartment micelles.