From Startup Fortune · · 1m 10s
Gottheimer Buys AI Chip Stocks After Trading Ban
Rep. Josh Gottheimer bought AI chip stocks despite voting to stop lawmakers from trading individual stocks.
In brief
Rep. Josh Gottheimer bought AI chip stocks despite voting to stop lawmakers from trading individual stocks. Rep. Josh Gottheimer purchased AI hardware stocks using a Morgan Stanley account after supporting a trading ban. Originally reported by Startup Fortune.
Gottheimer's Stock Purchases
Rep. Josh Gottheimer bought AI hardware stocks using a Morgan Stanley account on November 4.
Voting for Trading Ban
Gottheimer voted for the Stop Insider Trading Act in July, which bars lawmakers from buying individual stocks.
Account Details
The Morgan Stanley account bought Benchmark Electronics and Applied Materials in the $1,001 to $15,000 range.
Multiple Purchases
The account bought AMD three times this spring and Applied Materials multiple times in 2023.
Investment Defense
Gottheimer's office claims an independent third party has full investment discretion over the account since 2017.
AI Stock Holdings
About one in five members of Congress hold AI-related investments, including those on AI safety committees.
Trading Ban Status
The Stop Insider Trading Act failed to become law after a Senate procedural vote on September 30.
The essence
Rep. Josh Gottheimer purchased AI hardware stocks using a Morgan Stanley account after supporting a trading ban.
