Rep. Thomas Massie criticized President Trump after Trump said the government received a 10% stake in a U.S. chipmaker as part of a bailout, a stake Trump claimed is now worth $80 billion. Massie called the move a "shakedown" and challenged conservative free-market groups for their silence. Critics including Sen. Rand Paul warned the step resembled government ownership and raised concerns about socialism. The dispute comes amid broader political tensions after Trump opposed Massie's reelection.
Massie Rebukes Trump for Boasting He 'Shook Down' Chipmaker for 10% Stake Now Worth $80 Billion
Rep. Thomas Massie (R-Ky.) publicly criticized President Donald Trump after Trump said the federal government secured a 10% ownership stake in a U.S. chipmaker in connection with a bailout — a stake Trump later claimed is now worth $80 billion.
Massie's Reaction
Massie shared a clip of Trump’s remarks on social media and wrote: “Imagine if Biden or Obama had bragged about shaking down a private company for 10% public ownership.” He also called out conservative free-market groups by name, asking, “Where are the supposed stalwarts of free markets like @club4growth or @Heritage or @freedomcaucus?”
What Trump Said
“And then I got, as a gift — another gift — I said to Intel, 'Give the United States of…' they needed something, they needed some help, the chip maker. I said, 'Give the U.S. of America' — I'll do it for you — 'but give the U.S. of America 10 percent of your company.' He said, 'You have a deal.' He said it so fast, I said, 'I should have asked for more.' But he said, 'You have a deal.' And that stake is now worth $80 billion. I made $80 billion for the country in eight months. Does anybody talk about it? No. Have a good time. Have a good flight. Enjoy the plane.”
Trump first announced that the government would take a partial ownership stake in Intel in August 2025 — a move that sparked pushback from some conservative commentators and lawmakers at the time.
Conservative Pushback
Sen. Rand Paul (R-Ky.) questioned whether government ownership of part of a major company would amount to a step toward socialism, calling the idea “terrible.” Columnists like David Harsanyi of The Washington Examiner suggested Republicans would likely have reacted strongly if a Democratic president had taken a comparable ownership stake during an emergency.
Political Context
The episode also has personal political overtones: Trump opposed Massie's reelection and endorsed the GOP primary challenger who went on to defeat Massie this summer.
Source: Originally reported on Mediaite. Photo credit: Tom Williams/CQ Roll Call via AP Images.
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