Carl Icahn named a special adviser in the Trump administration

Carl Icahn, the hedge fund titan, will be a part of Donald Trump's administration.

Icahn will be a special adviser to the president-elect overseeing regulation specifically, according to the transition team.

The investor has long been a critic of various government regulatory agencies, most notably the Environmental Protection Agency.

"Carl was with me from the beginning and with his being one of the world's great businessmen, that was something I truly appreciated," said Trump in a release from the transition team.

Carl Icahn through the years
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Carl Icahn through the years
NEW YORK CITY - MARCH 13: Businessman Carl Icahn attends the Starlight Starbright Children's Foundation of New York's Fifth Annual Benefit Gala Honoring Carl Icahn on March 13, 1990 at New York Hilton Hotel in New York City, New York. (Photo by Ron Galella, Ltd./WireImage)
Carl Icahn during Lincoln Center for the Performing Arts Spring Gala - March 30, 2005 at The Rose Theatre at the Time Warner Center in New York City, New York, United States. (Photo by Robin Platzer/FilmMagic)
UNITED STATES - FEBRUARY 07: Billionaire investor Carl Icahn listens during an announcement of The Lazard Report in New York Tuesday, February 7, 2006. The report recommends forming separate companies for America Online, Time Warner Cable, the publishing unit, and film and TV networks, as well as buying back $20 billion in stock. (Photo by Daniel Acker/Bloomberg via Getty Images)
UNITED STATES - JUNE 10: Carl Icahn, a billionaire investor and chairman of Icahn Enterprises LP, greets guests after speaking at the New York Financial Writers Association dinner in New York, U.S., on Tuesday, June 10, 2008. Biogen Idec Inc. shareholders should reject Icahn's proposed slate of directors, the proxy advisers ISS Governance Services and Glass, Lewis & Co. said today. (Photo by Jeremy Bales/Bloomberg via Getty Images)
Carl Icahn, billionaire investor and chairman of Icahn Enterprises Holdings LP, stands outside of the Nasdaq MarketSite in New York, U.S., on Tuesday, March 27, 2012. Icahn announced his intention last month to offer $30 a share and give CVR Energy Inc. holders a right to as much as an additional $7 a share, a proposal that values the company at at least $2.6 billion, according to Bloomberg via Getty Images calculations. Photographer: Scott Eells/Bloomberg via Getty Images
Billionaire activist investor Carl Icahn speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York, U.S., on Tuesday, Oct. 21, 2014. Icahn said Warren Buffett is sometimes 'way too easy' on companies in which his Berkshire Hathaway Inc. invests. Photographer: Peter Foley/Bloomberg via Getty Images

"He is not only a brilliant negotiator, but also someone who is innately able to predict the future especially having to do with finances and economies. His help on the strangling regulations that our country is faced with will be invaluable."

According to a report from the Wall Street Journal, Icahn has already assisted the transition on vetting candidates for the EPA chief. The nomination eventually went to Scott Pruitt, the attorney general of Oklahoma. Icahn's experience with the EPA comes from a number of investments in oil and gas companies

Icahn will also have a role in selecting the new head of the Securities and Exchange Commission according to the report.

Icahn has been a long-time friend and supporter of Trump, advocating for the president-elect before the Republican primaries. The hedge fund legend has said Trump will bring economic growth back to America by rolling back regulation and giving companies the ability to invest again.

"I am proud to serve President-elect Trump as a special advisor on regulatory reform," said Icahn in the press release. "Under President Obama, America's business owners have been crippled by over $1 trillion in new regulations and over 750 billion hours dealing with paperwork. It's time to break free of excessive regulation and let our entrepreneurs do what they do best: create jobs and support communities."

The role, according to the Trump announcement, will not be an official government position and will not have any "specific duties."

This adds another billionaire to Trump's administration, which already had a net worth of well over $10 billion.

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