Prof. Richard Painter Quoted by Barron’s About Administration Nominees Receiving Stock From Trump Media

Professor Richard Painter, S. Walter Richey Professor of Corporate Law, was quoted by Barron’s about FBI director nominee Kash Patel and Department of Education secretary nominee Linda McMahon receiving Trump Media stock last week as current members of its board of directors. Trump Media is also the owner of the social media network Truth Social. According to guidelines from the Office of Government Ethics, presidents and vice presidents “are not legally subject to the restrictions” of conflict of interest laws, though they “should conduct themselves as if they were so bound.” Prof. Painter said that McMahon and Patel could face questions about conflicts of interest if they are confirmed by the Senate. He said, “They should resign as board directors [of Trump Media] and sell the stock. If not, they should have to recuse themselves from any matter that could effect the stock and they should stay off Truth Social.”