WASHINGTON – Several members of President Biden’s White House staff have ties to companies with significant stakes in the administration’s positions on cybersecurity, antitrust and other policy areas, according to new federal disclosures.
The disclosures, which the White House made available on request through an online portal, detail the assets of staff members and their spouses, stock portfolios, income, non-government positions and debts for in 2020 until they joined the government service this year.
Some of the ties may be early evidence of how the Biden administration interprets its promise of ethics, which requires appointees to agree not to participate in any matter “involving specific parts that is directly and substantially related to my former employer or former clients, including regulations and contracts. ”Since Saturday, the White House has said no waivers of the administration’s ethical commitment have been issued to White House staff.
It is not uncommon for senior government officials to have links with prominent companies, as all modern administrations have approached the private sector to hold key positions. The initial group of advisers and officials in President Donald Trump’s White House cabinet came from the oil industry, Wall Street and his personal real estate business and licenses, among other sectors.
The new Biden White House disclosures highlight especially the recent ties between National Security Adviser Jake Sullivan and Microsoft.
Sullivan is overseeing an interagency effort to deal with a recent cyberattack on Microsoft Exchange e-mail software, which the company said carried out a network of alleged Chinese hackers. Microsoft’s network was also accessed in the recently unearthed suspected Russian hacking of at least nine federal agencies and dozens of private companies.
Prior to joining the administration, Mr. Sullivan, Hillary Clinton’s former campaign assistant, served on a Microsoft advisory board from 2017 through May last year, according to its release. In that role, he was paid $ 45,000 last year as part of the board’s work advising the company’s president on “key policy developments,” according to the statement.
In response to questions about Mr. Sullivan’s disclosure, a White House official said that while Sullivan is addressing the national security consequences of Microsoft Exchange hacking, Deputy National Security Adviser Anne Neuberger leads the response of the National Security Council.
Mr Sullivan has had no contact with the company, is not involved in decisions that directly affect the company and consults with NSC lawyers to maintain compliance with ethical requirements, the official said.
“These White House officials are experienced government leaders whose past experience in the private sector is part of a broad and diverse set of competencies they bring to government service,” the White House said in a statement. “They have returned to government because of their deep commitment to public service, their desire to help get our nation out of this time of crisis, and their firm belief that government can work for the American people.”
In response to questions about Sullivan’s role on the advisory board, Microsoft said in a statement that “like many multinational companies, a group of individuals from across the political spectrum offer ideas and advice on a variety of policy issues. national “.
Through a trust, Mr. Sullivan has between $ 50,000 and $ 100,000 in shares in both Microsoft and Google’s parent company, Alphabet. Inc.,
according to its disclosure, which uses valuation ranges for assets and income. He also owns between $ 15,000 and $ 50,000 worth of Facebook shares.
Mr. Sullivan’s revelation detailed his work for consulting firm Macro Advisory Partners, showing that last year he was paid about $ 138,000 in fees. Among its customers was Uber Technologies Inc.,
Mastercard Inc.,
Lego, the insurance company Aviva PLC, Standard Life Aberdeen,
Standard Chartered and a subsidiary of Bank of America Corp.
Other senior Biden staff members listed previous positions or stakes in technology companies and other companies involved in the Covid-19 government response.
On Saturday, the White House official said Mr Sullivan is being dismissed from all his holdings, which will be reflected in an upcoming government divestiture certificate. He will withdraw from any issues related to his former Macro Advisory Partners clients and will have no contact with those companies, the official said.
Other senior Biden staff members listed previous positions or stakes in technology companies and other companies involved in the Covid-19 government response.
Susan Rice, who heads the Home Affairs Council, included assets of at least $ 37.9 million.
Photo:
Yuri Gripas / Bloomberg News
Susan Rice, who heads the White House Interior Policy Council, included assets of at least $ 37.9 million.
Former Obama administration national security adviser and UN ambassador resigned in mid-December as a member of Netflix’s board of directors Inc.
and indicated in his presentation that he is in the process of liquidating options on shares acquired after having joined the transmission company in 2018. The sale of less than a third of these options to the August reported him $ 305,275.
Its portfolio includes shares of vaccine manufacturer Covf-19 Pfizer Inc.
and Johnson & Johnson.
He listed shares of $ 1 million to $ 5 million to Johnson & Johnson, while he reported $ 15,001 to $ 50,000 to Pfizer.
On Saturday, White House officials said Rice is not involved in administration decisions related to Covid-19 vaccines.
Rice listed nearly $ 638,000 in fees earned during 2020, including more than $ 128,000 after the Biden election.
The coronavirus tsar, Jeff Zients, served on Facebook’s board of directors until mid-last year.
Photo:
Jacquelyn Martin / Associated Press
Biden administration coronavirus tsar Jeff Zients, who reported assets of at least $ 89 million, served on Facebook’s board of directors until mid-last year. He also had shares in the company, so his disclosure shows he has undressed.
The White House official said Mr. Zients had withdrawn from any Facebook-related issues and sold the shares as soon as it could. The official referred to public reports left by the council over disagreements over the company’s directions.
Louisa Terrell, the White House’s director of legislative affairs, who reported assets of at least $ 680,000, previously served as Facebook’s director of public policy and held between $ 250,000 and $ 500,000 in company shares since last year. In its latest disclosure, it says it will get rid of those goods.
Jen Psaki, White House press secretary and veteran of the Obama administration, received at least $ 5,000 as a communications consultant for Lyft Inc.
The White House official said the consultation took place for about six months when the company had no communications director and involved writing a communications plan.
—Alexa Corse and John McCormick contributed to this article.
Write to Chad Day at [email protected]
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