Former Secretary of the Treasury Steven Mnuchin
Steven MnuchinOn The Money: Schumer urges Democrats to remain united in the .9T bill | Collins dismisses Republican Party support for Biden’s relief plan | Powell fights inflation fears that Mnuchin hopes to launch investment fund seeking support from the Persian Gulf region is launching a new investment fund that is expected to be partially supported by reserves in the Persian Gulf region.
The Washington Post reported the plans on Tuesday, citing two people familiar with the project.
The sources, who spoke on condition of anonymity to discuss private planning, added that the former Trump administration official started hiring the Washington-based investment fund, which they added will be focused on financial technology, entertainment and other potential sectors. .
The report comes after Mnuchin, in his last weeks in office, organized a round of trips across the Middle East and North Africa, with visits to Sudan, Egypt, Israel, the United Arab Emirates (United Arab Emirates), Saudi Arabia and Qatar.
Mnuchin also planned to visit Kuwait, but he shortened his trip amid the consequences of the deadly January 6 riot on Capitol Hill.
According Sovereign Wealth Fund Institute, which analyzes public asset owners, the United Arab Emirates, Kuwait, Qatar and Saudi Arabia control some of the region’s largest investment funds.
The Post reported that Mnuchin did not immediately respond to a request for comment.
The move reported by Mnuchin, who previously worked as a banker at Goldman Sachs and hedge fund manager before joining the Trump administration in 2017, raised questions from some about the ties between former Trump employees and private companies.
Noah Bookbinder, president of the nonprofit surveillance group Citizens for Responsibility and Ethics in Washington, told the Post: “The fact that there are policies favorable to countries that can now benefit you in business matters is worrying and raises questions about whether even the prospect of future business interests may have impacted decision-making, even if there were no specific plans in place. ”
Trump throughout his presidency adopted policies towards Saudi Arabia and other Gulf countries that were widely seen as transactional, including promoting arms sales and aligning with nations to curb Iran’s influence in the region.
Mnuchin himself traveled to the region in October with a delegation to expand trade ties after the signing of the Abraham Agreements by Bahrain, Israel and the United Arab Emirates. During that time, Mnuchin joined the authorities on Israel’s first direct commercial flight to Bahrain.
Last week, Bloomberg News reported that Mnuchin started offering talks, charging about $ 250,000 for personal speeches and between $ 75,000 and $ 100,000 for virtual addresses.
The vehicle noted that Mnuchin hired the Harry Walker Agency to manage his lecture appointments. Mnuchin’s biography on the agency’s website claims that former Trump administration official “it was instrumental in helping to approve economic policy ”and“ it is often sought to talk about the direction our fiscal and economic policies are taking, given the current climate ”.
The Hill contacted the Harry Walker agency for information.