Postmaster general Louis DeJoy is under fire over a new CNN report that shows he holds stock options in Amazon, an apparent conflict of interest.
Federal law prohibits employees of the executive branch from holding a financial interest in a company that could have an impact on their government duties. Amazon is a significant customer of the USPS, with some analysts estimating the e-commerce giant uses the post office for around 40 percent of its shipping.
DeJoy held between $100,000 and $250,000 worth of stock in Amazon when he joined the Trump administration, CNN reported, citing financial disclosures. DeJoy divested the shares on June 24th but on the same day bought between $50,000 and $100,000 of Amazon stock options, which give him the right to buy shares in Amazon at $1,860 per share, according to CNN. As a result, he still stands to benefit financially if Amazon’s share price increases. (Amazon stock closed on Thursday at $3,161 per share.)