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Politicians Who Voted to Ban TikTok May Own as Much as $126 Million in Tech Stocks | Disclosures suggest Congress holds millions worth of stock in Amazon, Google, Meta, Microsoft, and Snap, companies that could benefit from a TikTok ban.
Disclosures suggest Congress holds millions worth of stock in Amazon, Google, Meta, Microsoft, and Snap, companies that could benefit from a TikTok ban.
Among the 352 members of the House of Representatives who voted “yes” on the bill, 44 reported they own shares of companies including Amazon, Google, Meta, Microsoft, and Snap—all corporations that could stand to benefit if TikTok is forced into a sale or a full-on ban. “Even if members of Congress are able to make completely unbiased decisions without any consideration of their personal stake, I think that even just the possibility of conflict of interest is harmful enough,” said Christopher Kardatzke, co-founder of Quiver Quantitative. According to Debra Perlin, Policy Director at the advocacy group Citizens for Responsibility and Ethics in Washington, the problem is the mere fact that Americans even have to ask questions about whether or not politicians’ financial interests factor into their decisions in the first place.
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