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Carl Icahn steps down as unofficial Trump advisor

Published Friday, Aug. 18, 2017|3:53 p.m.

Upgraded 16 minutes ago

WASHINGTON– President Donald Trump has lost another casual consultant from the business world: billionaire investor Carl Icahn, who offered the White House guidance on its deregulation efforts.

Icahn stated in a letter to Trump released Friday that he is stepping down to avoid “partisan bickering” about his informal role that Democrats suggested might benefit him economically. Trump lost a set of service advisory councils on Wednesday over his inability to condemn the function white supremacists played in violence last weekend in Charlottesville, Virginia.

However Icahn– who made his name and fortune as a business raider in the 1980s– indicated that his resignation was because of criticism regarding the appearance of possible ethical conflicts.

“I never had access to nonpublic info or benefited from my position, nor do I believe that my function presented disputes of interest,” Icahn composed.

He included that, from an abundance of care, he had actually limited his input to broad matters of policy about the oil-refining industry. Icahn controls a substantial stake in refiner CVR Energy. As an informal advisor, Icahn wasn’t needed to submit financial records to the Office of Government Ethics to address any conflicts of interest.

Icahn also said he was stepping down due to the fact that he didn’t want to cloud the work of Neomi Rao, who as head of the Workplace of Information and Regulatory Affairs is the administration’s point individual on guidelines.

On the campaign path, Trump applauded Icahn as the sort of solid dealmaker that he would bring into his administration.

At an August 2015 event in South Carolina, Trump called Icahn “one of the best” and indicated that he may be in charge of working out U.S. trade offers.

“If I put Carl in charge of Japan, ‘Carl, deal with Japan trade offers,'” Trump said. “It’s over, simply walk away, let him run the– oh, forget it. They even know that they don’t have a possibility. OK? It’s over.”