Stephen Miller Dumps Defense Contractor Stocks to Comply With Ethics Laws

White House Deputy Chief of Staff Stephen Miller and his immediate family dumped seven-figures’ worth of stock in August — including shares of several defense contractors — to comply with federal conflicts of interest rules and laws, according to a new government ethics document.

Miller and his wife, Katie Miller, who served as an adviser for DOGE before leaving the White House in May, jettisoned shares of Amazon (up to $515,000), Palantir Technologies Inc. (up to $250,000), GE Aerospace (up to $250,000), Microsoft (up to $50,000) and IonQ (up to $50,000), the document states.

Miller reported selling these and other stock shares on Aug. 14 — more than nine months after Donald Trump first announced that Miller would serve in the dual White House roles of deputy chief of staff for policy and homeland security adviser.

Miller has been a key figure advancing the president’s anti-immigration and homeland security agenda.

The White House did not answer several specific questions about Miller’s personal finances, including why he invested in and held defense contractor stocks for months after his White House appointment.

“Stephen divested from stock holdings early in the administration per the Office of Government Ethics and White House counsel guidance. There are no conflicts,” White House spokesperson Abigail Jackson said in a statement to NOTUS.

The Millers divested up to $300,000 in Intel Corp. stock about a week before the Trump administration announced the federal government would invest $8.9 billion into the computer chip company. Intel’s stock price had shot up in the days before the Millers sold their 6,000 shares. The stock has since continued to rise, nearly doubling in price.

The family also sold stock in National Beverage Corp., GE Healthcare Technologies Inc. CrowdStrike Holdings, Costco Wholesale Corp., Palo Alto Networks and Micron Technology, according to their government ethics documents.

Miller is only required by law to list the value of his family’s stock sales in broad ranges. Given this, the total value of his investments could be as little as $1.1 million and as much as $2.76 million.

Miller earns a government salary of $195,200, according to the White House’s latest salary report to Congress.

In the year prior to his White House appointment, Miller earned $508,659 from his work leading the pro-Trump America First Legal nonprofit organization, according to a personal financial disclosure report he filed earlier this year with the Office of Government Ethics.

Miller also reported earning $202,000 from consulting work through Rushmore Ventures Inc., which counted Trump’s 2024 presidential campaign and the Trump Vance 2025 presidential committee among its clients.

Florida state business records indicate that Rushmore Ventures is tied to Glenn Waldman, father of Katie Miller — who, after leaving the administration, worked for billionaire Elon Musk and now hosts a podcast targeted to conservative women.

White House officials are not barred from owning stocks. But Congress is considering bipartisan legislation that would ban government officials from buying, selling and owning individual stocks. The Senate has advanced such a bill out of committee, and a coalition of Republicans and Democrats is agitating for Speaker Mike Johnson to bring a similar measure to the House floor for a vote.

A potential sticking point: whether such a law, if passed, would extend to members of the executive and judicial branches, or just apply to members of Congress.