- Review Financial Disclosure of Congress members by Wealth shows that no republican home and a member of the Senate have purchased shares in Trump Media & Technology Group, nor any of the President’s three crypto projects. Only two invested in TeslaAnd no one has private shares in any of the other companies Elon Musk.
In political terms, Republicans in Congress cannot get enough that President Donald Trump and Chief Government Slash Elon Musk.
But the legislator’s enthusiasm does not extend to investing their own money in business and cryptocurrencies supported by billionaires, A A Wealth Analysis of state records of financial disclosure of information.
Since Trump’s election on November 5 last year, no republican Congress member personally acquired shares in Trump Media & Technology Group, a company based in Florida behind Trump’s social platform, federal records available before early February.
Also, the legislator did not disclose investment in any of Trump’s crypto enterprises, including World Liberty FinancialTrump’s bank project project, as well as $ Trump and $ Melania Crypto Meme Coins. Both of these vehicles have shed Significant value has been submitted from the president’s inauguration a few hours before Trump.
Members of the Republican Congress, many of whom are active stock traders, similarly avoiding musk companies late, despite literally Trump and Musk audition Tesla cars earlier this month in the White House.
Taylor Taylor Green (R-GA) during herself and representative Michael Guest (R-Miss.) name From his dependent child – revealed modest purchases of shares in Tesla, Moscow Electric Campaign and a solar energy company since Trump’s election. No one replied to a comment request.
Meanwhile, no Congress member revealed personal investment in any private companies that Musk’s private companies are the richest in the world, including Space. Reference and the social media platform X.
“There is a lot of saying that they are sold – if they do not invest, they do not believe that it is a good investment,” said a former Caucasian representative, a Republican, who served in Congress from 1995 to 2011 and is now a senior advisor in the “first issue” of government reform.
Congress members may have good reasons not to invest. He invites the “conflict of interest and the emergence”, making such investments, said Michael Suri, associate professor and director of the Center for Analytics and Transformation Technology at the Texas University at the MCOMBS Business School in Austin.
“There are serious ethical consequences when Congress members personally trade enterprises related to figures such as President Trump or Mr Musk,” Suri said.
Who buys Tesla?
Interestingly, the Democrats in Congress recently showed greater interest in Tesla’s shares than the Republicans, despite the extensive doubts in the efforts of Moscow – a recent government -efficiency Department or Doge Demant numerous federal agenciesIncluding the US International Development Agency and the Consumer Financial Defense Bureau.
Musk “Basically bought the US presidency. I have no doubt what he calls the shots,” Gil Sisneras said in February 21 (D-Calif.) interview with Forbes. But in four days cisneros purchased From 1.001 to $ 15,000 TESLA’s stock on the background Extended slide Tesla’s shares, which closed on Friday at $ 248.71, which decreased in December compared to the maximum of $ 480 per share. (Legislators require only legally to disclose the cost of purchases and sales in wide ranges.)
“Unlike President Trump, who just had a Tesla Musk’s improvised advertising on the White House lawn last week, Cisneros Congressman never abused his official position in favor of a private person,” said Cisneros Press Jordan Jordan Wealth. “Both before, and after talking about the actions, Cisneros Congressman has repeatedly been critical of Ilon Musk, and he will continue to oppose him or anyone else who does not do the right American people.”
March 3 representative Vicente Gonzalez (D-Texas) purchased 65,000 to $ 150,000 Tesla shares. Gonzalez’s press -secretary, who reached the phone, refused to comment.
Res. Morgan McGari (D-Ky.) Husband and wife purchased Between $ 1.001 to $ 15,000 Tesla shares just before Trump’s election, federal information disclosure shows. His wife too purchased The day after Trump won the election, the day after Trump won the election. But they quickly sold the shares, noting in the federal disclosure that Trump Media shares were “acquired without knowledge about the filler or spouse” and “sold for loss”.
Macgarvi’s press -secretary Albert Fuji said that Congressman and his wife had “a clear agreement with their financial advisor, which they will not manage, not approve and do not even know about the purchase or sale of shares.” McGars have also since lost all individual actions, Fuji said.
Another Democrat, a spokesman Josh Gottimer from New Jersey, revealed several Tesla and sales shopping, as Trump won Democrat Kamala Harris in the 2024 elections.
Gottheimer Tony Wen’s press -secretary said that Gottheimer has an investment head that has a “full investment” without the participation of a congressman. Gottimer also collaborates with Congress’ ethics officials to formally create a “skilled blind confidence” to further protect himself about his own financial investments, said Wen, adding that the congressman supports all the Congress members who is doing the same.
Tesla price – it’s a tanker – and little legislators want stocks
Congress members can personally trade most of any assets but have required by Stop Trading the Law on Congress 2012 To reveal any purchases, sale or exchange of individual stocks, bonds, goods, futures, digital currencies and business investments in private companies.
However, dozens of legislators have disturbed Provisions on disclosure of the law with a small fine. Disappointed status -kua, biparticular coalition of federal legislators has sailed several proposals to move on. They would like to ban themselves and their colleagues to trade individual actions and cryptocurrency, citing the potential of conflicts of interest and the ghost of insider trade, given the amount of non -public information to which the members of the congress represent the secret.
While one such proposal came out of the last session of the Senate Committee, the full congress has not yet voted as the stock was trading.
This is very bad, said Morris Pearl, former head of the asset management firm Black And the current chairman of patriotic millionaires, government reform.
“Congress members are in a situation that has a conflict of interest on any number of reasons, and they have access to confidential information and the ability to change the government’s policy in such a way that may be useful or harmful to companies (Trump and Musk),” Parl Fortune said.
The rapporteur of the ward nast In June, $ 250,000 to $ 500,000 Tesla shares for federal records are among the powerful legislators who opposed the measures to limit the stock among Congress members, argument This legislators should be allowed to participate in the free market economy.
Other legislators who regularly trade shares sold their Tesla shares, including Senator Sheldon Whitehaus (RR.I.), who together with his wife stands out During the Trump’s election, US $ 130,000 to USD. Press -Secretary of Whitehouse Meaghan McCabe told Wealth that the senator himself does not trade stocks and has the manager of money, which “requires contract to act independently without any deposits from the senator.” She refused to name the money manager or provide additional details.
Similar representative Julie Johnson (D-Texas) nast In mid -February TESLA shares worth up to $ 65,000. She did not return requests for comment.
That the price of Tesla stock is a tank – and that few of the legislators want the action – it is little surprised by Daniel Taylor, Professor Vartan School in Pennsylvania and Corporate Corporate Experts and Insider Trade.
“It is quite clear that Elon’s activity in the government is expensive,” Taylor said. “Now the question is how long it can go before they cry uncle?”
Dave Levintal He is a journalist based in Washington, Colombia. Earlier, Dave worked as editor -in -chief of Raw Story, Business Insider’s deputy editor and editor or reporter at the Center for Public Honesty, Politico, OpenSecrets and Dallas Morning News. He also wrote for Atlantic, Time, Rolling Stone, Daily Beast, Notus and Ankler.
Originally this story was presented on Fortune.com
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2025-03-24 10:57:00
Dave Levinthal
