Biden adviser Anita Dunn forced to divest multimillion dollar investment portfolio to avoid conflicts
Dunn, who previously sidestepped disclosures, has an investment portfolio valued between $16.8 million and $48.2 million
President Biden's senior adviser Anita Dunn, who previously sidestepped providing financial disclosures due to a loophole, will have to divest investments valued between $16.8 million and $48.2 million to avoid conflicts of interest, according to reports.
Dunn, who returned to the White House in May amid Biden's slumping poll numbers, will also have to recuse herself from matters involving her former clients, including Pfizer, Micron, AT&T, American Clean Power Association and Lyft, among others.
Dunn's financial disclosures, first obtained by CNBC, show that she and her attorney husband, Bob Bauer, have racked up quite the portfolio.
The revelations follow her first stint in the White House, which ran from January to August 2021. She did not have to previously make public her financial information because she was classified as a "special government employee" and making less than the $132,552 salary threshold required for disclosure.
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Anita Dunn did not have to disclose her financial information during her first stint in the Biden White House because she was classified a "special government employee" and made less than the $132,552 salary threshold required for disclosure. (William B. Plowman/NBC/NBC Newswire/NBCUniversal via Getty Images / Getty Images)
The Biden adviser's multimillion portfolio includes individual stocks in brokerage accounts, including in tech giant Alphabet, Google's parent company, and retail behemoth Amazon. The disclosures also show stocks in Chevron, Dow, Boeing, Bank of America and Morgan Stanley.
Dunn and her husband further had between $1,000 and $15,000 in corporate bonds with several companies with federal oversight, such as Lockheed Martin, Target, Bank of America and Apple, among others, CNBC reported.
Dunn has also provided consulting services to a number of corporations and left-wing groups in the past, including Micron, Pfizer, the Center for American Progress and the Ford Foundation, the disclosures show.
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Anita Dunn acts as a top adviser to President Biden. (AP Photo/Andrew Harnik / AP Newsroom)
Micron recently announced they would roll out a large-scale investment after President Biden signed the CHIPS Act on Tuesday, which targets the semiconductor manufacturing industry. The company said it would invest $40 billion through the decade's end into building chip manufacturing plants, which they credited to the legislation.
A White House spokesperson told CNBC that Dunn would divest her holdings, recuse herself from matters involving former clients, and won't be able to attend meetings involving them for two years.
President Biden relied on Anita Dunn from January through August 2021, before she departed for her consulting firm. Dunn returned to the White House in May. (AP Photo/Patrick Semansky / AP Images)
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A financial planner pegged her portfolio as valued between $16.8 million and $48.2 million.
In May, Dunn returned to the White House in a senior adviser role amid President Biden facing underwater poll numbers. Dunn previously served as a Biden adviser from January to August 2021. At that time, she returned to SKDK, a liberal corporate and political consulting firm she co-founded.