The Trump administration has committed about $26.7 billion across roughly 30 equity or equity-like transactions, according to Fortune. The largest position is a 9.9% stake in chipmaker Intel, now valued at about $42 billion. Other holdings include a $400 million investment in rare earth miner MP Materials, a “golden share” retained in U.S. Steel during its acquisition by Japan’s Nippon Steel, and multiple equity positions in quantum computing companies. Fortune said the holdings are spread across at least four agencies: the Commerce Department with 17 deals, the Department of Defense with seven, the US International Development Finance Corporation with six, and the Department of Energy with two. The report added that only DFC has explicit statutory authority to make equity investments, an authority Congress created in 2018 for overseas development projects. There is no unified public ledger for federal holdings at present, and the most complete public tracking is maintained by the Council on Foreign Relations. Some deals remain only at the signed-agreement stage or near a term sheet, especially nine quantum computing-related transactions announced by the Commerce Department within a week.
According to Fortune, the Trump administration has put about $26.7 billion into roughly 30 equity or equity-like transactions.
Intel is the largest position
The biggest holding is a 9.9% stake in chipmaker Intel, which the report said is currently worth about $42 billion.
Portfolio also includes rare earths, steel and quantum computing
Other transactions include a $400 million investment in rare earth miner MP Materials, a “golden share” retained in U.S. Steel during its acquisition by Japan’s Nippon Steel, and multiple equity stakes in quantum computing companies.
Holdings are spread across at least four agencies
Fortune said the positions are distributed across at least four government bodies:
- Department of Commerce: 17 deals
- Department of Defense: 7 deals
- U.S. International Development Finance Corporation (DFC): 6 deals
- Department of Energy: 2 deals
Among them, only DFC has explicit statutory authority to make equity investments. That authority was created by Congress in 2018 for overseas development projects.
No unified public ledger exists
The report said there is currently no unified public ledger of US government equity holdings. The most complete public tracking is maintained by the Council on Foreign Relations.
Some of the transactions are only at the stage of signed agreements or are near the term-sheet stage, especially nine quantum computing-related deals announced by the Commerce Department within a week.
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