Trump‘s (R) Networth jumped by hundreds-of-millions in a single day last week, after Shares of Trump Media & Technology Group (TMTG) surged on News of a $6 billion Merger with Private Nuclear Fusion Firm TAE Technologies. According to Forbes, Trump’s Net Worth rose by $504 million to an estimated $6.7 billion last Thursday, due to His Majority Ownership of Trump Media, currently held in a Revocable Trust managed by His Eldest Son, Donald Jr., against Revocable Trust Rules.
The Merger is Controversial because it poses a glaring Conflict-of-Interest, Ethics Experts warn, because it means that Trump will soon simultaneously have a Major Financial Iinterest in a Rapidly Expanding Energy Company whose Fortunes will be Influenced by the Actions of a Government that Trump Presides Over. Nuclear Fusion Companies are Regulated by the Federal Government and will likely need Federally-Supported Research and Development to become Commercially Viable. The Merger needs to be Approved by Federal Regulators, some were Nominated by Trump.
“There is a clear conflict of interest here,” Richard Painter, the Top Ethics Official under former President George W. Bush (R) said: “Every other president since the Civil War has divested from business interests that would conflict with official duties. President Trump has done the opposite.” 5 Fusion Startups Have also Raised Billions Backed By Bill Gates, Sam Altman, And Google.
The All-Stock Merger with TAE will Transform Trump Media, the Parent Company of Truth Social, from an Underperforming Niche Social Media and Media Platform into a Speculative Venture in Clean Energy and Advanced Technology of Great Interest to the Financial Markets. Fusion Energy is considered a possible “Holy Grail” of Clean Energy, as it offers Significant Energy Generation withoutCcarbon Emissions. While Government Researchers have achieved Impressive Results in recent years, No Private Company has reached the Point where the Fusion Reaction creates as much Energy as it Consumes.
In 2018, TAE’s Chief Executive, Michl Binderbauer, said He expected the Company to achieve that Milestone in Five or Six years. Last Thursday, the Merged Companies said they Plan to create the First “Utility-Scale Fusion power Plant” in 2026. The Department of Energy (DOE) recently created an Office of Fusion to Support Commercialization. The Deal, should it be Completed, would put Trump in Competition with other Energy Companies over which His Administration holds Financial and Regulatory Sway, that Trump has sought to Speed-Up Safety Reviews of New Nuclear Power Plants and Lower Thresholds for Acceptable Radiation Exposure.
“Having the president and his family have a large stake in a particular energy source is very problematic,” said Peter A. Bradford, who previously Served on the Nuclear Regulatory Commission (NRC), the Independent Agency that Oversees the Industry. Painter, now a Professor at the University of Minnesota Law School, said that anyone other than the President or the Vice President could be Committing a Crime, if they participated in a U.S. Government Matter that they knew they had a Financial Interest in.
For instance, He said the Secretary of Energy would have to Recuse themselves from Any Matter Linked to Fusion, if they Simultaneously had a Significant Stake in a Fusion Company. “It’s only legal because the criminal conflict of interest statute does not apply to the president,” Painter said, adding that while it is “technically legal” He doesn’t believe Presidents should be excluded from the Law.
The Trump Administration has sought to Accelerate Nuclear Power Technology, including Fusion, which remains Unproven, in its drive to meet America’s Quickly growing Demand for Energy, particularly as Tech Companies build Power-Hungry Data Centers in the Race for Artificial Intelligence (AI). That Support has come in the form of Federal Loans and Grants, as well as Executive Orders directing the NRC to Review and Approve Applications more Quickly.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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