Pete Hegseth's broker attempted to make defense investments before Iran war
CNBC • • nation
Key Points:
- A broker for U.S. Defense Secretary Pete Hegseth reportedly sought to invest millions in a defense-focused ETF managed by BlackRock ahead of the Iran war, according to the Financial Times.
- The ETF includes major defense contractors like RTX Corp, Lockheed Martin, and Northrop Grumman, but the investment did not proceed as the fund was not yet available to Morgan Stanley clients.
- The Pentagon has strongly denied the report, with spokesperson Sean Parnell calling it "entirely false and fabricated" and demanding a retraction from the Financial Times.
- The U.S. conflict with Iran has extended into its fifth week, with U.S. Marines deployed to the region and preparations reportedly underway for potential ground operations.
