Illinois Governor Invested in Company With $2.6 Billion In State Contracts

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Real Clear Policy

Amid the national debate over whether members of Congress should be able to trade stock, the governor of Illinois is demonstrating how prevalent conflicts of interest are for elected officials who own securities.

In 2020, Gov. JB Pritzker’s trust bought stock in the health insurance company Centene Corp. That same year, Illinois gave $2.6 billion worth of Medicaid contracts to Centene Corp.

 

An investigation by the Better Government Association, a nonprofit Illinois watchdog, uncovered these interesting investments. Even though Pritzker’s investments are in a blind trust, which means that Pritzker is not privy to investment decisions, they demonstrate why blind trusts can’t prevent conflicts of interest.

Each year, Pritzker receives a copy of his current investments from his fund managers, which have the potential to influence the state contracting process.

Pritzker, a member of the family that owns the Hyatt Hotel dynasty, has a net worth of $3.6 billion, according to Forbes.