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Carl Icahn steps down as special adviser to President


August 19. 2017 9:12PM
Billionaire investor Carl Icahn (REUTERS/Brendan McDermid/File Photo)

Billionaire investor Carl Icahn on Friday ended his role as a special adviser to U.S. President Donald Trump after facing criticism that his recommendations on policy could help his own investments.

Some Democratic lawmakers and biofuels advocates have argued that Icahn's policy recommendations to the Republican administration create a conflict of interest with his businesses, including oil refining company CVR Energy Inc. 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.

Icahn's departure comes after a flurry of changes at the White House. Trump on Friday fired his chief strategist Stephen Bannon, two days after disbanding two high-profile business advisory groups.

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