Doge employees hold stock in firms set to benefit from cuts, Democrats allege
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Source: The Guardian
Employees of Elon Musk's "department of government efficiency" (Doge) own lucrative stock in companies that stand to directly benefit from their work gutting federal agencies, Democratic senators have alleged.
The potential ethics violations merit an investigation by the justice department and other oversight bodies, urges a letter co-authored by senators Elizabeth Warren of Massachusetts, Ron Wyden of Oregon and Jack Reed of Rhode Island and obtained by the Guardian.
"We write regarding new reports that Doge employees at the treasury, Internal Revenue Service (IRS), and the Consumer Financial Protection Bureau (CFPB) have been engaged in the dismantling of these agencies while holding hundreds of thousands of dollars of stock in private companies benefitting from these individuals' efforts to eliminate key programs, staff, and policies," the senators state.
[snip]
Tom Krause, the Doge team leader at Treasury, reportedly holds substantial stock in major financial institutions - including JPMorgan Chase and Bank of America - that do business with or provide services to Treasury. He also owns shares in the tech giants Google, Oracle and Amazon while leading treasury's IT modernisation efforts. A government ethics expert described this to Politico as "a massive, glaring red flag of a conflict of interest".
Read more: https://www.theguardian.com/us-news/2025/may/29/democrats-doge-elon-musk
ALSO.... Linda Whitridge of the treasury Doge team is said to own shares in Intuit (parent of TurboTax), a company actively opposing the IRS's free tax filing program Direct File.
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