The Huffington Post ran a misleading story claiming that President Trump owned a stake in drugmaker that makes the anti-malaria drug he has been touting to help fight the Chinese Coronavirus.
However, this isn’t true:
The report cited by the HuffPost is from a New York Times story that said: “Trump himself has a small personal financial interest in Sanofi, the French drugmaker that makes Plaquenil, the brand-name version of hydroxychloroquine.”
Trump’s personal financial interest, however, does not include a stake in Sanofi–and the New York Times did not claim it did. Instead, Trump’s financial disclosures show that his three family trusts each had investments in a $10.3 billion Dodge & Cox mutual fund that owns shares in Sanofi, the world’s fifth-largest drugmaker by prescription sales. As of its latest disclosures, those holdings amount to just 3.3 percent of the fund’s holdings.
Trump’s most recent financial disclosure forms lists holdings in the Dodge & Cox International Fund valued between $1,001 and $15,000. That means Trump holds a maximum stake in the mutual funds of $45,000, giving him an indirect interest in Sanofi of $1,485 at the most.
His “financial interest” in Sanofi, which has a market capitalization of nearly $58 billion, could be as low as $99.10.
Mike Cernovich gave us more information:
The worst part of this is the fact this is a life saving drug. It is sad that the left-wing media would rather attack President Trump than just admit that he is right about this.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri two years ago at the age of 19. Since its founding, it has gotten over 1M pages views and over 20k followers. The Palmieri Report is dedicated to debunking the lies spread by the left-wing Mainstream Media.