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Trump Names Carl Icahn, Former Bedford Resident, As Regulatory Adviser

Carl Icahn
Carl Icahn Photo Credit: @Carl_C_Icahn

President-elect Donald Trump has named former fellow Bedford resident Carl Icahn as his special adviser on regulatory overhauls, multiple media reports said Wednesday.

Trump’s transition team said that the billionaire will assist Trump in an “individual” capacity and will not be employed by the government, according to a report by CNBC.

Icahn, a fervent critic of federal regulations, especially when they involve fossil fuels – an area where he invests heavily -- will not have specified duties, the CNBC report said.

The octogenarian told CNBC that American businesses have been hobbled by unrestrained regulations and mountains of paperwork, adding that reforming the system is essential to making the country “work again.”

This isn’t the first time Icahn has advised Trump, who owns a large estate in Bedford. Seven Springs, as it is called, is not the billionaire businessman's primary pad.

According to CNBC, Icahn helped the future leader of the free world, pick the new head of the Environmental Protection Agency, Oklahoma’s attorney general and climate change doubter Scott Pruitt, and could have a hand in choosing the new chairman of the Securities and Exchange Commission.

Among Icahn holdings that could be affected by a Trump agenda are CVR Energy and the insurance monolith AIG, the CNBC report said.

According to a 1986 report by The New York Times, a real estate company which the then-chairman of Trans World Airlines (TWA) controlled, gobbled up hundreds of acres in Northern Westchester for high-end private homes.

The largest projects were, The New York Times story said, in Cross River, Somers and New Castle; the smaller ones, in Goldens Bridge and Bedford, where Icahn then lived.

Behind Icahn’s deep dive into the real-estate market, The New York Times reported then, were major corporations such as IBM and Pepsico moving to Somers.

The soft drinks giant moved out of its 500,000-square-foot building at 1 Pepsi Way last spring and consolidated its offices in White Plains and Purchase,. In November, IBM sold its 723-acre complex to a limited liability corporation for $31.7 million and moved to North Castle, as previously reported by Daily Voice.

To read the CNBC report, click here.

To read The New York Times report, click here.

To read other news reports about Icahn's ties to Bedford, click here.

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