2017-08-22 18:27:52

Billionaire Carl Icahn Resigns as Trump Adviser After Reaping Millions From His Time in White House

On Friday billionaire investor Carl Icahn left his role as regulatory adviser to Donald Trump, just before the New Yorker published an article entitled "Carl Icahn’s Failed Raid on Washington." The article detailed Carl Icahn’s potential conflicts of interest, including his heavy lobbying for a rule change about blending ethanol into gasoline, a rule which affects the profits of Icahn’s Texas-based petroleum refining company, CVR. According to the New Yorker, in the months after Trump’s election, the stock price of CVR nearly doubled, which meant Icahn’s own wealth surged, at least on paper, by a half a billion dollars.

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