Billionaire Carl Icahn called the surprise win by U.S. President-elect Donald Trump "a step in the right direction" on Wednesday.
"I'm certainly happy about it," he said on CNBC's "Fast Money Halftime Report." "I really think it's a very important thing for our economy in general."
Icahn spoke to CNBC just hours after Trump clinched the presidency in an outcome that surprised most poll forecasts. He has been a vocal supporter of Trump's bid to win the presidency and had turned down a chance to be on his economic advisory team because the chairman of Icahn Enterprises was considering funding a super PAC.
Overnight, futures tumbled more than 800 points as returns started to point to an increased chance of a Trump win. U.S. stocks traded higher midday Wednesday, momentarily by 200 points, as investors digested the news Trump had won.
Icahn said he used the market dip as an opportunity to buy more stock last night, adding that he does not think that a Trump presidency will be a negative for the market.
"I'm glad I did that," he said. "I guess that's what makes me happy too."
Icahn stressed the need to end the gridlock in D.C., saying the Fed cannot hold up the economy alone through low interest rates — a policy that just builds a bubble.
To boost investment, business owners must feel like the government is with them, rather than against them. While he does not think regulators should be "running the country," Icahn stressed the need for a middle ground. Still, Icahn said he thinks Wall Street does need regulation and he would not be in favor of rolling back the Dodd-Frank act.