Icahn steps down from role as Trump's regulatory advisor

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Billionaire activist investor Carl Icahn has been pitted against Michael Dell in a battle over the future of the PC maker. (Reuters)

Billionaire investor Carl Icahn announced on Friday he would no longer be serving in his informal role as special advisor to President Donald Trump on issues relating to regulatory reform.

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Icahn said in a statement that he and Trump agreed the business magnate should abdicate his role to clear the way for Neomi Rao, Trump’s newly appointed Office of Information and Regulatory Affairs administrator.

Icahn maintains that despite criticism from Democrats, he never had access to “nonpublic information or profited from [his] position.”

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The billionaire businessman’s decision to leave his role as a regulatory advisor comes just hours after the White House announced Trump’s Chief Strategist Steve Bannon would no longer be serving in the administration. Bannon tendered his resignation on Aug. 7, sources confirmed to Fox News Friday.

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