Rep. Thomas Massie (R-Ky.) on Thursday accused fellow Republicans of overlooking what he called the Trump administration’s “nationalization” of several publicly traded companies while criticizing Democrats’ alleged communist influence.
Massie Targets Government Stakes
Massie, in a post on X, highlighted the administration’s ownership interests in Intel Corp (NASDAQ:INTC), MP Materials Corp (NYSE:MP), Lithium Americas Corp (NYSE:LAC), Trilogy Metals Inc (NYSE:TMQ) and a “golden share” in United States Steel Corp (NYSE:X).
The Kentucky Republican said the administration’s ownership stakes in private companies conflicted with Republican criticism of Democrats over alleged communist influence.
“Republicans decrying communist involvement in the Democrat party just looked the other way…” Massie added.
Government Backed Strategic Industries
The Trump administration has backed several strategic industries through direct investments and financing, particularly companies tied to semiconductor manufacturing, critical minerals and domestic steel production.
The U.S. government acquired a 10% non-voting stake in Intel in August after converting $11.1 billion in CHIPS Act funding into 433.3 million shares.
The Department of Defense is the largest shareholder in MP Materials with a roughly 15% stake, while the government also holds a 5% stake in Lithium Americas and a 10% stake in Trilogy Metals.
The government also secured a “golden share” in U.S. Steel as part of Nippon Steel Corp‘s acquisition of the company, giving Washington veto authority over key corporate decisions.
Massie said the investments amounted to the administration having “nationalized ownership of these private companies.”
Strategic Investments Under Scrutiny
Massie’s criticism comes as government ownership of private companies has become a broader topic in Washington, particularly around artificial intelligence.
Earlier this month, Vice President JD Vance said Trump supports the U.S. taking ownership stakes in major AI companies, while Sen. Bernie Sanders (I-Vt) separately proposed a bill aimed at granting the American public ownership of these companies.
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