WASHINGTON – Several members of President Biden’s White House have connections with companies that have strong interests in government positions on cybersecurity, antitrust and other policies, new federal revelations show.
The revelations, which the White House has made available through an online portal upon request, detail staff and their spouses’ net worth, equity portfolios, income, nongovernment positions and debt for 2020 through when they reach the government this year came.
Some of the ties may provide an early test of how the Biden administration interprets its ethical pledge, which states that appointees commit themselves not to participate in any matter “ involving specific parties directly and substantially related to my former employer ” or former customers, including regulations and contracts. As of Saturday, the White House said that the government’s ethical pledge for White House staff has not been renounced.
It is not uncommon for senior government officials to have affiliation with prominent companies as every modern government has pulled out of the private sector to fill top positions. President Donald Trump’s first crop of White House advisers and cabinet officials hailed from the oil industry, Wall Street, and his personal real estate and licensing businesses, among others.
The new revelations from Biden’s White House particularly highlight the recent ties between national security adviser Jake Sullivan and Microsoft.
Mr. Sullivan oversees an inter-agency collaboration to tackle a recent cyber attack on Microsoft’s Exchange email software, which the company says was carried out by a network of suspected Chinese hackers. Microsoft’s network was also accessed via the recently unearthed suspected Russian hack of at least nine federal agencies and dozens of private companies.
Prior to joining the administration, Mr. Sullivan, a former campaign advisor to Hillary Clinton, served on an advisory board for Microsoft from 2017 to May last year, according to his disclosure. In that role, he received $ 45,000 last year as part of the board’s work to advise the company’s president on “important policy developments,” the disclosure said.
In response to questions about Mr. Sullivan’s disclosure, a White House official said that while Mr. Sullivan is dealing with the implications of the Microsoft Exchange hack for national security, Deputy National Security Adviser Anne Neuberger said the National Security’s response. Security Council leads.
Mr. Sullivan has not had any contact with the company, does not participate in decisions that directly affect the company and is consulting with NSC attorneys to continue to comply 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 wide and diverse skill set that they bring into 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 strong belief that the government can work for the American people.”
In response to questions about Mr. Sullivan’s role in the advisory board, Microsoft said in a statement that “like many multinational corporations, a group of individuals from across the political spectrum offers ideas and advice on a variety of national policy issues.”
Through a trust, Mr. Sullivan holds between $ 50,000 and $ 100,000 in shares in both Microsoft and Google’s parent company, Alphabet Inc.,
according to its note, which uses valuations for assets and income. He also owns between $ 15,000 and $ 50,000 worth of Facebook stock.
Mr. Sullivan’s disclosure detailed his work for the Macro Advisory Partners consulting firm, revealing that he received approximately $ 138,000 in fees last year. His clients included 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 employees listed previous positions or shareholdings in technology companies and other companies involved in the government’s Covid-19 response.
On Saturday, the White House official said that Mr. Sullivan will divest himself from all his stockholdings, which will be reflected in an upcoming government certificate of divestiture. He will withdraw from all cases involving the clients of his former Macro Advisory Partners and has no contact with those companies, the official said.
Other senior Biden employees listed previous positions or shareholdings in technology companies and other companies involved in the government’s Covid-19 response.
Susan Rice, who heads the Domestic Policy Council, has listed assets of at least $ 37.9 million.
Photo:
Yuri Gripas / Bloomberg News
Susan Rice, who heads the White House Domestic Policy Council, noted assets of at least $ 37.9 million.
Former Obama Administration National Security Adviser and United Nations Ambassador resigned from Netflix’s board of directors in mid-December Inc.
and indicated in her filing that she is in the process of liquidating stock options that she acquired after joining the streaming company in 2018. Selling less than a third of those options in August grossed her $ 305,275.
Her portfolio includes stocks in the Covid-19 vaccine manufacturer Pfizer Inc.
and Johnson & Johnson
She listed shares of between $ 1 million and $ 5 million in Johnson & Johnson, while she reported between $ 15,001 and $ 50,000 in Pfizer.
On Saturday, the White House official said Ms. Rice is not involved in the government’s decisions regarding Covid-19 vaccines.
Ms. Rice posted nearly $ 638,000 in speaking fees earned in 2020, including more than $ 128,000 after Mr. Biden’s election.
The coronavirus tsar, Jeff Zients, was a member of Facebook’s board of directors until mid-last year.
Photo:
Jacquelyn Martin / Associated Press
The coronavirus tsar of the Biden administration, Jeff Zients, who reported net worth of at least $ 89 million, was a member of Facebook’s board of directors until mid-last year. He also held stock in the company, which his disclosure reveals that he has divested himself.
The White House official said Mr. Zients has pulled out of all Facebook-related business and sold the stock as soon as he was able to. The official was referring to public reports that he was leaving the board due to disagreements over the company’s guidelines.
Louisa Terrell, the White House’s director of legislative affairs, who reported net worth of at least $ 680,000, was previously Facebook’s public policy director and owned between $ 250,000 and $ 500,000 in company stock last year. In her latest disclosure, she says she will divest herself from those assets.
Jen Psaki, the White House press secretary and veteran of the Obama administration, received at least $ 5,000 as a communications consultant for ride-hailing company Lyft Inc.
The White House official said the advice took about six months when the company did not have a communications director and it involved writing a communications plan.
—Alexa Corse and John McCormick contributed to this article.
Write to Chad Day at [email protected]
Copyright © 2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8