Investor Carl Icahn steps down as special adviser to US President Donald Trump amid claims of conflict of interest
Icahn was so sure Trump’s election last year would give a boost to stocks that he left the campaign’s victory party to make a US$1 billion bet on the market
Billionaire investor Carl Icahn ended his role as a special adviser to US President Donald Trump on Friday after facing criticism that policy recommendations he offered could help his own investments.
Some Democratic lawmakers and biofuels advocates argued that Icahn’s guidance to the Republican administration created a conflict of interest with his businesses, including oil refining company CVR Energy. Icahn has denied any conflict of interest.
“I chose to end this arrangement [with your blessing] because I did not want partisan bickering about my role to in any way cloud your administration,” Icahn wrote in a letter to Trump released on his website.
The White House declined to comment. A call to Icahn’s office was not immediately returned.
The activist investor, who leads Icahn Enterprises LP, was an early and close ally of Trump who was often praised by the Republican for his business acumen.