President-elect Donald Trump's transition team announced on Dec. 21 that investor Carl Icahn will serve as his deregulation adviser.
"Carl was with me from the beginning and with his being one of the world's great businessmen, that was something I truly appreciated," the president-elect said in a statement released by his official transition website, GreatAgain. "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. His help on the strangling regulations that our country is faced with will be invaluable."
Icahn, a billionaire activist, will not be employed by the federal government, nor will he have official duties. He will instead advise Trump "in his individual capacity" in matters related to economic growth and small business advocacy, which means he will not be required to distance himself from his business ventures to fulfill his advisory role.
"I am proud to serve President-elect Trump as a special advisor on regulatory reform," Icahn said. "Under President [Barack] Obama, America's business owners have been crippled by over $1 trillion in new regulations and over 750 billion hours dealing with paperwork. 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."
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The New York City native, who announced his support for Trump early in his campaign, has been interviewing candidates for Trump's Securities and Exchange Commission chairman, notes Washington Examiner.
Trump indicated during his campaign that he might appoint Icahn as secretary of the treasury, though Icahn reportedly declined the appointment before it was given to Goldman Sachs partner and hedge fund investor Steve Mnuchin.