President-elect Donald Trump has made investor Carl Icahn a special adviser on regulatory reform, Trump's transition team announced Wednesday.

The statement said that Icahn would advise Trump in his "individual capacity," and would not serve as a government employee.

"Carl was with me from the beginning and with his being one of the world’s great businessmen, that was something I truly appreciated," Trump said in the statement. "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."

The Wall Street Journal reported that Icahn, 80, has played a key role in helping Trump put together his administration. According to the paper, Icahn helped vet potential candidates to head the Environmental Protection Agency, a job that went to Oklahoma Attorney General Scott Pruitt.

The Journal also reported Icahn is "playing a central role" in selecting the next chairman of the Securities and Exchange Commission and advised Trump on the nominations of Steve Mnuchin and Wilbur Ross to be Treasury and Commerce secretaries, respectively.

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