Musk’s Banker To Head US “Sovereign Wealth Fund”

March 6, 2025 Elon Musk, Trump Corruption

Reuters reports:

Technology investment banker Michael Grimes, who left Morgan Stanley to take up a senior role in the U.S. Commerce Department last month, is expected to lead the new U.S. sovereign wealth fund that was unveiled by President Donald Trump. Typically, such funds rely on a country’s budget surplus to make investments, but the United States operates at a deficit. Its creation would also likely require approval from Congress.

Grimes made a name for himself at Morgan Stanley after leading several high-profile technology initial public offerings, including those of Meta, Uber, and Airbnb. He famously advised Elon Musk on his $44 billion takeover of Twitter. He has worked closely with Musk on deals involving his other companies, like Tesla. Morgan Stanley was one of the lead underwriters on the electric vehicle maker’s stock market launch.

Read the full article. The so-called sovereign wealth fund is being backed, allegedly, by Trump’s multiple crypto scams.



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