Top Trump aide sold MP Materials stock after federal deal
Government filings show Stephen Miller sold $50,000–$100,000 of MP Materials shares on Aug. 14, 2025, a month after the Trump administration announced it would take an equity stake in and purchase products from the rare-earth miner, a move that sharply boosted the stock. The New York Times reports Miller also unloaded holdings in nearly two dozen companies, including Intel and Westinghouse, which the administration later backed, while ethics experts say the timing raises conflict-of-interest concerns even though Miller wasn’t a named negotiator.
📌 Key Facts
- White House announced on July 10, 2025 it would buy shares in and products from MP Materials; stock jumped from $30.03 (July 9) to $45.23 (July 10).
- Miller sold MP Materials shares on Aug. 14 at $76.58, the then-record high; total sale value $50,000–$100,000.
- Miller also sold stakes in nearly two dozen firms in August, including Intel and Westinghouse, which the administration subsequently supported with equity stakes.
📊 Relevant Data
China accounted for 70% of US rare earth imports between 2020 and 2023.
RARE EARTHS1 — US Geological Survey
The US net import reliance for rare-earth compounds and metals was 80% in 2024.
RARE EARTHS1 — US Geological Survey
US production of rare-earth-oxide equivalent was estimated at 45,000 tons in 2024, accounting for approximately 11.5% of global production of 390,000 tons.
RARE EARTHS1 — US Geological Survey
China accounts for about 70% of rare-earth mining and nearly 90% of processing capacity globally.
How America fell behind in the rare-earth race—and how it hopes to catch up — Fortune