GOP Senator Tommy Tuberville fights Chinese companies – and invests in their stocks quietly

Senator Tommy Tuberville of Alabama has been heavily criticized for companies based in Mainland China. But according to CNBC, the Republican senator bought shares in Chinese e-commerce company Alibaba – headquartered not in Taiwan or Hong Kong, but in Hangzhou, Zhejiang in the People’s Republic of China.

CNBC’s Dan Mangan reports, “Tuberville, as recently as December, made three separate purchases with his wife, Suzanne Tuberville, totaling Alibaba stock at $300,000, according to a disclosure report. financials filed Wednesday. In July, a Republican spokesman told CNBC that in mid-2020 he had ordered his financial advisors to sell off a small portion of Alibaba shares after knowing it was already in my portfolio.”

Alibaba Group, founded in 1999, has been operating for 23 years and is a major player in e-commerce in the People’s Republic of China – following the death of dictator Mao Tse Tung in 1976, went from strict communism to more of a capitalist/crony mixture. Many products sold in the US are made in Mainland China.

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“In July,” according to Mangan, “a spokesman (of Senator Tuberville) told CNBC that in mid-2020, he ordered his financial advisors to sell off one shares of Alibaba after realizing it was already in his portfolio. The previous stock sale, then worth less than $5,000, occurred when the former Auburn University football coach was running for the Senate seat. In July, Tuberville was revealed to have violated the federal financial transparency law, the STOCKS Act, by failing to disclose approximately 130 stock and stock options transactions between January 2021 and May 2018. 2021 within 45 days. “

Senator Tuberville’s transactions, Mangan noted, “include the sale of stock options on January 25, 2021 to Alibaba Group Holding.”

According to Mangan, “The sale of the put – which will give the holder the right to sell Alibaba at a share price of $230 on September 19 – is valued between $15,001 and $50,000,” according to Mangan. “That acquisition came a few months after the Alibaba stock divestment described by his spokesman.”

Tuberville was elected to the US Senate in 2020 after defeating former US Attorney General Jeff Sessions in the GOP primaries and incumbent Democrat Doug Jones in the general election.

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Huynh Nguyen

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