‘Is Trump govt building a portfolio, or…?’ Why Bill Gates is uneasy over US govt buying equity stakes in private firms

Microsoft cofounder Bill Gates has raised concerns over the Trump administration acquiring equity stakes in private US firms, warning that the government could end up favoring companies it partly owns over rivals with better technology, undermining fair competition. The US government has already taken stakes in Intel (9.9%, now worth ~$36 billion), nine quantum computing firms ($2 billion collectively), and several rare-earth metals companies including MP Materials (~15%) and Lithium Americas (5%). Gates emphasized that businesses need policy predictability — particularly on tariffs — before committing billions in long-term investments.