- Review of Financial Publishing Members of Congress per Wealth It shows that no Republican home or a member of the Senate bought supplies at Trump Media & Technology Group or in any of the three presidential crypto projects. Only two invested in TeslaAnd none do not have a private role in any of the other Elon Male companies.
Politically speaking, the Republicans in Congress cannot get enough of what President Donald Trump and the Principal Government owner Elon Musk did.
But the enthusiasm of the MP is not expanded to invest its own money in companies and the CRIPTO currency supported by a couple billionaires, states Wealth Analysis of records on the financial publication of the Government.
Since Trump’s elections on November 5 last year, no Republican Congress member personally bought supplies at Trump Media & Technology Group, a company based in Florida behind Trump’s social platform for truth, federal records available until the beginning of February.
No MP has revealed to invest in any of Trump’s cryptocurrency, including World Freedom FinancialTrump’s crypto banking project and $ Trump and $ Melania Crypto Meme Coins. Both of these vehicles have shed Significant value since Trump introduced them in hours before his inauguration of the President 20. January.
Republican members of the congress, many of which are active shares traders, are similarly avoided late, despite Trump and male literally insignificant Tesla vehicles earlier this month on the White House grounds.
Only two MPs-Rep. Marjorie Taylor Greene (R-g.) for alone and Ambassador Michael Guest (R-Mish.) On name From their addicted child – they discovered modest shopping for shares in Tesla, Musk’s electric vehicle and solar energy companies, from Trump’s choices. No one responded to the comment requests.
In the meantime, no member of the Congress has discovered personal investments in any company that is privately held by Musk, the richest person in the world, including Universe,, Star and the social media platform X.
“He says a lot about what they sell – if they don’t invest, they don’t think it’s a good investment,” said former envoy Zach Wamp, a Republican who served in the congress from 1995 to 2011 and is now a senior advisor in the first edition of the Government Reform.
Congress members may have good reasons not to invest. He calls “Conflict of Interest and the onset of inappropriateness” by entering such investments, said Michael Sury, Associate Professor and Director of the Center for Analytics and Transformation Technologies at the University of Texas at the Austin Mccombs School of Business.
“There are serious ethical implications when members of the Congress personally trade a venture related to figures such as President Trump or Mr. Musk,” Sury said.
Who buys Tesla?
Interestingly, Democrats in Congress recently showed more interest in Tesla’s shares than Republicans, despite their broad misconceptions about Musk efforts – the newly established department of the Government Efficiency, Via Trump dismantle numerous federal agenciesincluding the US Agency for International Development and Consumer Protection Office.
Musk “Basically bought himself the Presidency of the United States. I have no doubt that he is the one who calls shootings,” said the Reverend Gil Cisneros (D-Calif) on February 21st February 21st. interview with Forbes. But four days later, Cisneros bought Between $ 1,001 and $ 15,000 Tesla’s stock in the middle of an extended slide Tesla’s shares prices, which closed on Friday on Friday at $ 248.71, which is December, a drop of $ 480 per share. (Legislators are only legally obliged to discover the value of shopping and sales in wide range.)
“Unlike the president of Trump, who only held improvised Tesla’s Infomercial for Elona Musk on the White House lawn last week, Congressmen Cisneros never abused his official position in favor of a private entity,” said Cisneros Nic Jordan spokesman Nic Jordan Wealth. “Even before and after the transaction in question, Congressmen Cisneros was repeatedly critical of Elon Musk, and would continue to speak against him or anyone else who does not work properly.”
March 3, Rev. Vicente Gonzalez (D-Texas) bought Between $ 65,000 and $ 150,000 Tesla shares. He came to the phone, a spokesman for Gonzalez, Mauricio Armaz, refused to comment.
Tail. Morgan McGarvey (D-Ky.) Spouse bought Between $ 1,001 and $ 15,000, Tesla’s shares just before Trump’s elections, indicate federal posts. His wife too bought Trump Media & Technology Group Group worth $ 15,000 a day after Trump won the election. But they quickly sold shares, noticing in the federal discovery that Trump’s media stock “bought” without the knowledge of a fillet or spouse “and” sold for loss “.
McGarvey spokesman Albert Fujii said that Congressmen and his wife have “explicit a contract with his financial advisor that he will not direct, approve or even have knowledge of buying or selling shares.” McGarvey is also rejected by all individual stocks, Fujii said.
Another Democrat, Ambassador Josh, received from New Jersey, revealed several Tesla’s shares and sales to sell Democrat Kamal Harris in the 2024 election.
Gottheimer’s spokesman Tony Wen said Gottheimer employs an investment manager who has a “completely discretionary investment” without the involvement of Congressmen. Gottheimer also cooperates with the Congress Ethics officials to officially create a “qualified blind trust” to further protect knowledge of his own financial investment, Wen said, adding that Congressman supports all members of the Congress working.
Tesla price is tanted – and few legislators want shares
Congress members are free to trade in most of any assets but are required according to Stop trading on the 2012 Congress Knowledge Act To discover any purchase, sale or exchange of individual shares, bonds, goods, future, digital currencies and business investments in private companies.
Still, dozens of legislators have violated Provisions on the detection of the law with a small sentence. Frustrated by status quo, a double -sided coalition of federal legislators floated several proposals to go on. They would like to ban themselves and their colleagues to fully trade individual stakeholders and crypto currency, citing the potential for conflicts of interest and a spectrum of insider trading, given the amount of non -non -demon data to which members of the Congress are Secrets.
While one such proposal passed from the Senate Committee on the last session of the Congress, the whole congress has yet to vote on the measure of the brackets.
That’s too bad, said Morris Pearl, former CEO of asset management company Black -haired And the current President Patriotic Millionires, a government reform group.
“Congress members are in a situation where they have a conflict of interest in any number of reasons, and they have access to confidential information and the ability to change government policies in ways that could be useful or harmful to [Trump and Musk] Companies, “Pearl Fortune said.
Home speaker Emeritus Nancy Pelosi (D-Calif.), Whose husband ejected Between $ 250,000 and $ 500,000, Tesla’s shares in June, according to federal records, are part of powerful legislators who have declared themselves against measures to limit shares trading among Congress members, quarrel These legislators should be allowed to participate in the free market economy.
Other legislators who trade the shares regularly sold their Tesla shares, including Senator Sheldon Whitehouse (RR.I.), who with his wife with his wife covered Between $ 130,000 and $ 350,000 Tesla in the days before Trump’s elections. Spokeswoman Whitehousea Meaghan McCabe Wealth That the senator does not trade in trade shares and has a money manager who is “contracted to act independently without any contribution from the senator.” Refused to appoint a money manager or provide further details.
Tail. Julie Johnson (D-Texas) similar ejected In mid -February to $ 65,000 Tesla’s stock. She did not return the commentary requests.
The fact that Tesla’s price tanked the price – and that few legislators want shares – is a little surprising for Daniel Taylor, a professor at the Wharton school at the University of Pennsylvania and experts in corporate discoveries and trading insiders.
“It is quite clear that Elon’s activity in the Government costs shareholders pretty much,” Taylor said. “The question is now, how long can it be before they cry uncle?”
Dave Levinthal is Washington’s research journalist, DC based in DC. Dave previously worked as the editor-in-chief of RAW Story, Deputy Editor-in-Chief at Business Insider and as an editor or journalist at the Public Integrity, Politico, Opensecrets and Dallas Morning News Center. He also wrote for the Atlantic, Time, Rolling Stone, Daily Beast, Notus and The Ankler.
This story is originally shown on Fortune.com
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