Billionaire Carl Icahn quits role as President Trump’s adviser

Billionaire Carl Icahn quits role as President Trump’s adviser
Chairman of Icahn Enterprises Carl Icahn participates in a panel discussion at the New York Times DealBook. Neilson Barnard/Getty Images
Chairman of Icahn Enterprises Carl Icahn participates in a panel discussion at the New York Times DealBook. Neilson Barnard/Getty Images

On Friday, Carl Icahn announced he resigned from his post as special adviser to President Donald Trump on regulation.

In his resignation, Icahn said he and the president came to his resignation decision together.

The billionaire investor then noted that he made the decision to leave as to not overshadow the president’s appointment of Neomi Rao as administrator of the Office of Information and Regulatory Affairs. Additionally, Icahn attempted to make it clear that he never had access to information he shouldn’t have while in his advisory role.

“I never had a formal position with your administration nor a policymaking role,” Icahn wrote in his resignation letter. He added:

“And contrary to the insinuations of a handful of your Democratic critics, I never had access to nonpublic information or profited from my position, nor do I believe that my role presented conflicts of interest. Indeed, out of an abundance of caution, the only issues I ever discussed with you were broad matters of policy affecting the refining industry.”

But his resignation letter, and its contents, seemed more of a defense against the heavy criticism he has received for his attempts at changing biofuel policies that would directly benefit his own company, Bloomberg reported.

Moreover, Bloomberg reported, Democratic Senators Elizabeth Warren and Sheldon Whitehouse sent a letter in July asking Treasury Secretary Steven Mnuchin about Icahn’s potential role in a regulatory decision that affected American International Group Inc., a company that Icahn has significant holdings in.

“We write to seek assurances that Mr. Icahn has not provided input on or received information,” the letter read.

However, in Icahn’s resignation he says he “never sought any special benefit for any company with which I have been involved” and merely shared his ideas with the president that he believed would benefit the refining industry as a whole.

He closed his letter by saying he hoped his resignation would deter any “partisan bickering” and wished the country and the president well.