“Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports,” ThinkProgress reports.
Icahn Resigned Ahead of Magazine Article
“Billionaire investor Carl Icahn, who resigned Friday from an unpaid post as President Trump’s adviser on deregulation efforts, stepped down as The New Yorker was preparing to publish a lengthy article detailing Icahn’s potential conflicts of interest and questioning the legality of his actions,” the AP reports.
The must-read New Yorker piece notes Icahn “is worth more than the Trump family and all the members of the Cabinet combined — and, with no constraint on his license to counsel the President on regulations that might help his businesses, he was poised to become much richer.”
Icahn Will Lead Regulatory Overhaul
Billionaire investor Carl Icahn is expected to be named special adviser to the president on overhauling federal regulations, the Wall Street Journal reports.
“Mr. Icahn, who has spent the past four decades battling big companies as an activist investor, already has been wielding influence in President-elect Donald Trump’s transition team. He is playing a central role in selecting the next chairman of the Securities and Exchange Commission… Interested candidates have reached out to him, and he is interviewing others at the request of Mr. Trump.”
