Congress
Trump: ‘NO INTENTION OF SELLING’ $3.5B stake in Trump Media
President-elect Donald Trump is doubling down on his plans to hold on to his roughly $3.5 billion stake in the parent company of Truth Social, just days after winning back the White House.
In a social media post, Trump, who is the company’s majority shareholder, said Friday he has “NO INTENTION OF SELLING” his nearly 115 million shares. He added that there have been “fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth,” which he rejected.
“THOSE RUMORS OR STATEMENTS ARE FALSE,” Trump said on Truth Social. “I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities.”
Now a major source of his estimated $5.6 billion fortune, Trump’s stock in the company — Trump Media & Technology Group — poses a new and potentially complicated element of the president-elect’s business empire as he prepares to head back to Washington.
The stock has drawn concern from ethics watchdogs, who worry that corporate interests or foreign actors could try to use Truth Social to curry favor with Trump by either buying ads on the platform or investing in the stock.
Trump Media has struggled to generate much business, despite its hefty valuation of $6.5 billion. On Tuesday night, before polls closed across the country, the company reported a $19.2 million net loss for the three months ended Sept. 30. Trump Media generates its revenue from advertising on Truth Social.
Spokespeople for the Trump campaign did not immediately respond to a request for comment about how Trump plans to handle the stock once in office.
Congress
EMILY’s List-backed Denise Powell wins Dem primary for Rep. Don Bacon’s seat
Activist Denise Powell won the Democratic primary for one of Democrats’ best pickup opportunities this fall after a prolonged vote count in an Omaha-based congressional district.
The Associated Press called the race Wednesday evening. With an estimated just shy of 90 percent of votes counted, Powell led state Sen. John Cavanaugh 38.9 percent to 36.8 percent, with court clerk Crystal Rhoades a distant third.
She will face Republican Brinker Harding in November for the chance to replace retiring GOP Rep. Don Bacon in just one of three districts former Vice President Kamala Harris won in 2024 that is currently represented by a Republican.
Powell, who ran a PAC in Nebraska supporting women for elected office, was supported by EMILY’s List and the Congressional Hispanic Caucus, whose affiliated groups combined to spend more than $1 million for her in the race. That pitted them against the Congressional Progressive Caucus, which backed Cavanaugh.
Powell also benefited from millions in outside spending — both supporting her and attacking Cavanaugh — that came from groups backed by dark money nonprofits or that showed signs characteristic of Republican meddling.
Outside groups, along with Powell and Rhoades, made the case that Cavanaugh’s candidacy could endanger Nebraska’s “blue dot” that has yielded one electoral vote for Democrats because Nebraska’s governor would get to appoint the replacement for his blue Omaha-area state legislative seat.
Money is likely to continue to flow in for the general election as the district is one of Democrats’ top targets as they look to take back the House.
Congress
Lutnick sought to clean up Epstein revelations in closed testimony to House committee
Commerce Secretary Howard Lutnick in closed-door testimony to Congress refuted accusations that he maintained a relationship with Jeffrey Epstein years after he claimed he had cut ties.
Lutnick, who has faced harsh criticism for his ties with the convicted sex offender as part of a global reckoning sparked by the release of long-sealed documents, told the House Oversight Committee that his conflicting statements weren’t intentional, according to a transcript released Wednesday.
The commerce secretary, who previously was CEO of financial services company Cantor Fitzgerald, had said in a podcast interview that he cut ties with Epstein in 2005 — a fact contradicted in the documents released by the Justice Department under a law passed by Congress.
“I was describing 20 years later a conversation I had with my wife. It was informal. It wasn’t trying to be literal,” Lutnick said of his comments on the New York Post podcast last year.
Documents within the files released by the Justice Department showed that Lutnick and his family visited the sex offender’s island in 2012 — about four years after Epstein’s conviction in Florida on charges that included soliciting prostitution from a minor.
That contradicted his podcast interview in which he said he had known for years that Epstein was a “disgusting person” and he would “never be in the room” under any circumstances.
But he told the House Oversight Committee, which is investigating the Epstein case, that he wasn’t being literal, according to the transcript.
“It was trying to tell a story and be descriptive, which I thought was an accurate description, which was that I would avoid establishing a professional and personal relationship with him,” he said.
The Commerce secretary’s interview with Congress was unusual, in part, because he was questioned by a panel led by his own party. Rep. Nancy Mace (R-S.C.) had threatened to force a subpoena vote for his testimony, before the Oversight Committee announced that he would appear voluntarily.
The politics of Lutnick’s interview are also complicated by the fact that the Trump administration has been repeatedly attacked for ties between the president and Epstein, who died in jail in August 2019 while awaiting trial on sex trafficking charges.
During the interview, Lutnick declined to discuss whether he had spoken with President Donald Trump about Epstein.
Lutnick claimed that he had “virtually nonexistent interactions” with Epstein, who became his next-door neighbor when he moved into a renovated New York City home in 2005. That year, he and his wife had been invited to Epstein’s home for coffee.
“During this brief interaction that included my wife, me, and this individual, he made a crude and gross remark in my wife’s presence, which caused us to cut the visit short and leave,” he recalled.
Epstein led Lutnick and his wife on a tour of his home, showing them a table where he told them he would get the “right kind of massage,” the Commerce secretary told the committee.
At that point, Lutnick and his wife vowed not to “establish a personal or professional relationship” with Epstein, he said.
Lutnick later met with Epstein in 2011 at the request of Epstein’s office to discuss, from what he could recall, scaffolding. About 18 months later, Epstein’s staff sent an invitation to the Caribbean island.
“My family of six and another family of six, had a brief, meaningless, and inconsequential lunch and then left,” Lutnick said. “To the best of my recollection, those were the only three occasions in which I interacted with Epstein in person. Each and every one was meaningless and inconsequential.”
The committee also released a transcript of its recent interview with Ted Waitt, the businessman and philanthropist who once dated Ghislaine Maxwell, Epstein’s convicted co-conspirator. Waitt told investigators he met Maxwell and Epstein in November 2003 in Hong Kong and later developed a yearslong romantic relationship with her.
He described Epstein as “off-putting” and said he hesitated to spend time with him, in part, because of Epstein’s previous relationship with Maxwell. And he recalled that in 2010 he brought Maxwell to Chelsea Clinton’s wedding. Neither Bill Clinton nor Hillary Clinton has been accused of any wrongdoing in connection with Epstein.
“I can say unequivocally that if I knew then what I know now about Ms. Maxwell, I never would’ve befriended her or allowed her to be around my four children, three of whom are girls and who, at that point, ranged in age from 8 to 14,” Waitt said. “I never would’ve spent 6 years in a romantic relationship with her.”
Congress
Rep. Mike Lawler ‘accosted’ by Sen. Rand Paul’s son
Rep. Mike Lawler on Wednesday said he was accosted by the son of Sen. Rand Paul on Tuesday night with a 10-minute “reprehensible” antisemitic rant.
The New York Republican told reporters the interaction occurred when he was on his way to a restaurant with at least one journalist. He said William Paul approached him and shouted at him and said he would blame “your people” if Rep. Thomas Massie loses his reelection bid.
“My people?” Lawler asked.
“Yeah, you Jews,” Paul replied.
Lawler said he told Paul that he isn’t Jewish and the senator’s son apologized before launched into an antisemitic diatribe.
“At one point, he said that he hates Jews and hates gays and doesn’t care if they die. And I think that’s fucking disgusting,” Lawler said.
The conversation, he said, ended soon thereafter, with Paul flipping him off and tripping on his way out the door.
In a post to X late Wednesday afternoon, Paul said he “had too much to drink and said some things that don’t represent who I really am.”
“I’m sorry and today I am seeking help for my drinking problem,” he added. A spokesperson for Sen. Rand Paul did not immediately respond to a request for comment.
“I think it speaks to a larger issue, obviously, in society and what we’re seeing among young people and what we see online, and this is the level of hatred and vitriol, frankly, that some of my Jewish colleagues experience, that many of my constituents experience,” said Lawler.
Lawler represents New York’s 17th Congressional District, which is home to about 90,000 Jews, or about 12 percent of the district’s population.
“I’m not going to stop standing up for my constituents. I’m not going to stop standing up for the Judeo-Christian values that are at the core of our nation, our Constitution, our rule of law,” he said.
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