Odaily, citing Fortune, reported that the Trump administration has accumulated roughly $26.7 billion in investments through 30 equity or quasi-equity transactions involving companies including Intel, MP Materials, and U.S. Steel. The report said those holdings are spread across multiple government agencies and are not subject to a unified public portfolio disclosure system. It also said there is no centralized oversight or regular reporting framework comparable to the Troubled Asset Relief Program, or TARP, used during the 2008 financial crisis. At least four departments are involved: the Department of Commerce with 17 transactions, the Department of Defense with 7, the U.S. International Development Finance Corporation, or DFC, with 6, and the Department of Energy with 2. The largest single position is the Commerce Department’s 9.9% stake in Intel. White House National Economic Council Director Hassett said the equity investments are “like the down payment on America building a sovereign wealth fund,” a remark the report said points to possible expansion in direct government ownership of corporate equity.
Odaily reported, citing Fortune, that the Trump administration has invested about $26.7 billion through 30 equity or quasi-equity deals involving companies such as Intel, MP Materials, and U.S. Steel.
According to the report, those holdings are spread across multiple government departments. There is no unified public disclosure mechanism for the overall portfolio, and no centralized oversight or periodic reporting structure comparable to the Troubled Asset Relief Program, or TARP, used during the 2008 financial crisis.
So far, the administration’s equity holdings are dispersed across at least four entities: the Department of Commerce with 17 deals, the Department of Defense with 7, the U.S. International Development Finance Corporation, or DFC, with 6, and the Department of Energy with 2. The largest single investment is the Department of Commerce’s 9.9% stake in Intel.
White House National Economic Council Director Hassett said the equity investments are “like the down payment on America building a sovereign wealth fund,” which the report said suggests the U.S. government may expand its direct ownership of corporate equity.
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