Icahn said Florida could be a roadblock on Trump's path to the necessary 270 electoral votes, but a victory there would certainly boost his chances.
"If he doesn't get Florida, it's a real problem," Icahn told CNBC in an interview at his election night headquarters at the New York Hilton. "If he gets it, he's got a great shot."
When asked about the futures market plunging more than 600 points as the election results came in, he said that wasn't the issue. He suggested the dip was temporary.
"It's going to cost the rich guys in New York money, and that's too damn bad," he said. "But you have to think about where this country is going to be in the next five, 10 years and you can't have it going the way it's going."
When asked if Trump should publicly accept the results of the election if he loses, Icahn said he wouldn't comment, adding that it was up to Trump himself.