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Who is Carl Icahn? Donald Trump’s billionaire special advisor on regulation – here’s what we know

He has taken up the President-elect's offer of a position in the newly established role

US President-elect Donald Trump is selecting who will be a part of his presidential transition team, and has chosen the person to fill the role of Special Adviser on Regulation.

Billionaire Carl Icahn, born and bred in New York, will take the position after he tweeted his acceptance.

 Carl Icahn is joining Trump's team of billionaires who will advise him on running the country
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Carl Icahn is joining Trump's team of billionaires who will advise him on running the countryCredit: AP:Associated Press
 On December 21 it was announced Icahn would serve as Special Adviser to the President on Regulatory Reform
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On December 21 it was announced Icahn would serve as Special Adviser to the President on Regulatory ReformCredit: Getty Images

Who is Carl Icahn?

He is an American business magnate, investor, activist shareholder and philanthropist.

The 80-year-old is the founder and majority shareholder of Icahn Enterprises - a conglomerate holding company based in New York.

He began his career on Wall Street as a stockbroker in 1961 and in 1968 he formed Icahn & Co, a securities firm focused on risk arbitrage and options trading.

He made his billion dollar fortune through a series of purchases and sales over his vast career.

He married Liba Trejbal, a ballerina from the former Czechoslovakia.

The pair divorced in 1999 after a lengthy court battle about money.

In 1999 Icahn married his assistant and former broker Gail Golden.

What is his relationship with Trump?

Icahn endorsed Trump in his bid to become US President.

He announced the formation of a super PAC pledging $150million to push for corporate tax reform, in particular inversions, which happen when corporations leave the US to take advantage of lower tax rates elsewhere.

When Trump became President he announced he would nominate Icahn for Treasury Secretary, but the position went to Steve Mnuchin instead.

On December 21 it was announced Icahn would serve as Special Adviser to the President on Regulatory Reform.

What is this position?

It is not an official government position.

This means Icahn will not need to divest of his business holdings in order to comply with government-mandated conflict of interest rules.

He will be a special adviser to the President, overseeing regulation.


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