Investments held by U.S. Rep. Seth Moulton in the defense sector have appreciated significantly, with his stake in the smart-ring company Oura soaring from a value of up to $250,000 in 2021 to between $1 million and $5 million by 2024. Moulton, a member of the House Armed Services Committee, has a portfolio worth at least $1 million in various startups linked to national defense.
Among his investments is a 3D-printing company that services federal contracts and an AI firm collaborating with the U.S. Army. Despite the rapid growth of these holdings, Moulton's campaign stated that the investments posed no ethical issues, claiming none of the companies were associated with the defense sector at the time of investment.
In response to concerns, Moulton is in the process of transferring these assets into a blind trust. His campaign indicated that the funds for these investments originated from his wife's career, emphasizing that the couple had no direct involvement in investment decisions. Moulton is currently campaigning for the Democratic primary for the U.S. Senate seat held by Sen. Ed Markey.