Carl Icahn To Be Trump's Special Adviser On Regulatory Issues

Posted: Dec 21, 2016 8:15 PM

Billionaire investor Carl Icahn will be advising Trump on regulatory issues. The announcement was made on Wednesday.

Carl Icahn, the founder of Icahn Enterprises, will not be serving in an official capacity nor will he be getting paid for his services. The arrangement will allow Icahn to continue with his own business endeavors while avoiding any conflict-of-interest issues.

Icahn, who was an early endorser of Trump’s candidacy, has been sought after for his business acumen. Throughout his life, he has proven to be an extraordinary businessman. At different points in his professional career, he’s held pivotal positions in major companies such as Phillips Petroleum, Viacom, RJR Nabisco, Time Warner, and many others. His position as regulatory advisor to Trump means the president-elect is serious about streamlining regulations to make for a better American economy.

"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," Trump said about Icahn. "His help on the strangling regulations that our country is faced with will be invaluable.”

Icahn appears to be hitting the ground running with his honorary position. He is already vetting candidates to become the next chairman of the Securities and Exchange Commission.

He will be pushing ahead with a pro-business agenda.

“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 about the current president’s economic agenda.

"It’s time to break free of excessive regulation and let our entrepreneurs do what they do best: create jobs and support communities. President-elect Trump is serious about helping American families, and regulatory reform will be a critical component of making America work again.”

Market-friendly Republicans should be very happy with this advisor pick.