TheBadPlaceyahoo news | Hegseth’s Broker Reportedly Sought To Invest Millions in Defense Contractors in ...
Secretary of Defense Pete Hegseth’s financial broker allegedly sought to place a multimillion‑dollar order for BlackRock’s iShares Defense Industrials Active ETF (IDEF) in the weeks leading up to the February 28 attack on Iran. The fund, launched in May 2025, concentrates on global defense, aerospace and security companies whose revenues are tied to heightened government spending on military and security programs. According to three sources cited by the Financial Times, the inquiry was made on behalf of a “high‑profile potential client” and was flagged internally at BlackRock, though the investment never materialised because the ETF was still too new to be offered to Morgan Stanley’s clients.
The IDEF’s portfolio includes firms that count the U.S. Department of Defense among their top customers, aligning with BlackRock’s stated goal of giving investors “growth opportunities” in sectors that may benefit from geopolitical tensions and economic competition. Hegseth himself has earned $4.6 million in two years at Fox News plus $1 million from speaking engagements, a financial backdrop that has drawn scrutiny of lucrative trades made ahead of major policy moves by the Trump administration.
President Donald Trump praised Hegseth on March 23, calling him “the first” to advocate for the Iran war and urging a swift outcome to prevent the nation from acquiring nuclear weapons. Trump’s remarks highlighted ongoing discussions about the conflict, while the Mediaite article that first reported the broker inquiry noted that neither BlackRock, Morgan Stanley nor Hegseth have commented on the matter.
#petehegseth #blackrock #isharesdefenseindustrialsactiveetf #u.s.departmentofdefense #donaldtrump
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