Donald Trump has named billionaire investor Carl Icahn, a frequent critic of some Obama administration rules and a major fossil fuel investor, a special advisor on regulation, the president-elect's transition team announced Wednesday.
Trump's team said in a statement that the activist investor will aid him in an "individual capacity" rather than as a federal employee or special government employee, adding that he will not have "specific duties." He therefore likely will not have to give up his varied business interests while advising Trump on policy.
"I am proud to serve President-elect Trump as a special advisor on regulatory reform. 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. "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."
Icahn, 80, has informally given the president-elect advice in recent months and helped Trump to pick Oklahoma Attorney General Scott Pruitt as head of the Environmental Protection Agency, according to Dow Jones, which first reported the news. Icahn will also help to choose the next chairman of the Securities and Exchange Commission, the report said.