Billionaire activist investor Carl Icahn will serve in a non-governmental role advising President-elect Trump on cutting back regulations, the transition announced Wednesday, bringing one of Trump’s earliest prominent backers closer into his circle.
“Carl was with me from the beginning and with his being one of the world’s great businessmen, that was something I truly appreciated,” Trump said. “He is not only a brilliant negotiator, but also someone who is innately able to predict the future, especially having to do with finances and economies.
Icahn won’t be a government employee or have any specific duties, the transition said, but instead will be advising Trump in his individual capacity. That arrangement means that Icahn won’t be required to separate himself from any of his numerous business interests.
The Wall Street Journal reported Wednesday that Icahn has already been interviewing candidates for chairman of the Securities and Exchange Commission for Trump.
Icahn, who has made his fortune investing in companies and then advocating for restructuring them, endorsed Trump early in his presidential run and stood by him when a recording of Trump making inappropriate comments about women was released.
On the campaign trail, Trump sometimes suggested that Icahn could serve as his treasury secretary. After the election, however, Icahn took himself out of the running and congratulated Steve Mnuchin on earning the nomination.
Icahn has said that he favors Trump on the basis that the Obama administration has pursued policies harmful to business. “Under President Obama, America’s business owners have been crippled by over $1 trillion in new regulations and over 750 billion hours dealing with paperwork,” Icahn said in a statement released by the transition. “It’s time to break free of excessive regulation and let our entrepreneurs do what they do best: create jobs and support communities.”
