Trump DHS Nominee Mullin Made Heavy Stock Bets Before Venezuela Attack
The New York Times reports that Sen. Markwayne Mullin, President Trump’s nominee to lead the Department of Homeland Security, made up to $2.8 million in stock purchases across 31 companies on Dec. 29, including buying Chevron shares just days before Trump publicly attacked Venezuela over oil terms. Chevron is the only major U.S. oil company operating in Venezuela, and its stock has climbed since Trump’s comments even as broader markets slipped, raising questions about whether a well‑placed senator benefited from moves closely tied to U.S. foreign‑policy pressure. Mullin, a member of the Senate Armed Services Committee who says he speaks with Trump “all the time,” has become one of Congress’s most prolific stock traders, though there is no direct evidence he had inside knowledge of the Venezuela move or broke existing law. The timing and scale of the trades are drawing fresh scrutiny as the Senate prepares to examine his nomination to helm DHS, which is steering billions of dollars in immigration‑related contracts after Kristi Noem was forced out over conflict‑of‑interest concerns. Ethics advocates and many politicians, including Trump himself in other contexts, have called for tighter limits or outright bans on stock trading by lawmakers and their families, warning that current rules leave the door open for self‑dealing and erode public trust.
📌 Key Facts
- On Dec. 29, Sen. Markwayne Mullin reported buying as much as $2.8 million in stock across 31 companies.
- His trades included Chevron, the only major U.S. oil company producing in Venezuela.
- Five days after the Chevron purchase, President Trump publicly attacked Venezuela and demanded better terms for U.S. oil firms, after which Chevron’s stock rose while the broader market fell.
- Mullin sits on the Senate Armed Services Committee and has said he speaks with Trump “all the time,” but there is no evidence presented that he had inside information or violated current law.
- These financial dealings surface as the Senate is set to consider Mullin’s nomination to lead the Department of Homeland Security, which is managing billions in new contracts tied to the administration’s immigration crackdown.
📊 Relevant Data
More than 100 members of Congress have made around 10,000 stock trades each year since at least 2021, and their portfolios tend to outperform the market.
Congressional Stock Trading: Who Trades and Makes the Most — The Motley Fool
In 2025, members of Congress made 13,324 stock trades totaling $635.57 million.
Congress Made Over $635 Million In Stock Trades While Americans Struggled—See Who Traded The Most — Common Cause
US-led sanctions caused Venezuela to lose oil revenue equivalent to 213% of its GDP between 2017 and 2023, exacerbating economic collapse and contributing to migration outflows.
They Are Making Venezuela's Economy Scream: The Eighteenth Newsletter (2025) — Tricontinental: Institute for Social Research
US sanctions on Venezuela are estimated to have caused 4.1 million of the 7 million Venezuelans who fled the country to do so, representing a major driver of migration to the US and other regions.
Economic Sanctions: A Root Cause of Migration — Center for Economic and Policy Research
The FY2026 Budget includes $11.3 billion for US Immigration and Customs Enforcement (ICE), supporting expanded operations under the immigration crackdown.
US Immigration and Customs Enforcement - Homeland Security — Department of Homeland Security
Chevron is the only major US oil company still operating in Venezuela, with production activities dating back to 1923, and its operations have been affected by US sanctions and Venezuelan government policies.
Venezuela Highlights of Operations — Chevron
📰 Source Timeline (1)
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