The Trump administration has executed approximately 30 equity and quasi-equity transactions totaling nearly $27 billion since early 2025, acquiring direct ownership stakes in private companies. The US government now holds a 10% equity stake in Intel and a 15% stake in MP Materials, tied to CHIPS Act funding and the Defense Production Act. An Intel shareholder has filed a lawsuit challenging the legitimacy of the government’s equity demands. A July 2026 CNBC poll shows 49% of voters view government ownership stakes as inappropriate, while 82% of finance economists surveyed say government ownership harms governance practices.
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