Susan Rice, a former national security adviser who is now a top contender to become presumptive Democratic presidential nominee Joe Biden’s running mate, sold shares in Netflix worth more than $300,000.
According to an SEC filing late Thursday, Aug. 6, Rice, who has been on the Netflix board since 2018, sold $305,323 worth in the streaming platform’s stock base.
“The option price of Netflix shares at the point of the sale was $508.68. The stock has surged as high at $575 this year as COVID-19 [CCP Virus] has spurred the addition of 26 million subscribers in the first six months of 2020. On Friday, shares were down 4% at about $488,” reported Deadline. “Under her board compensation package, Rice gets 125 stock options a month.”
The news came as Biden is expected to name his running mate next week. Erin Pelton, Rice’s spokes woman, said the sale had nothing to do with the potential vice presidential pick.
“Ambassador Rice’s sale of a fraction of her Netflix stock has nothing to do with VP speculation,” Pelton told Deadline. “She filed a stock plan pursuant to SEC regulations over three months ago.”
Biden is spending time interviewing his finalists. According to his selection committee, Biden is going to pick a vice president who “reflects the same relationship he had with [former president] Barack Obama.”
Biden’s choices for vice president have reportedly narrowed to Rice and Sen. Kamala Harris (D-Calif.) after a series of damaging stories about Rep. Karen Bass (D-Calif.), Axios reported Wednesday.
Rice’s first financial disclosure as an Obama White House official, filed in 2008, showed her investments in an array of industries including fossil fuels, large financial institutions, pharmaceuticals companies, and holdings in Las Vegas casinos owned by the Republican megadonors Sheldon Adelson and Steve Wynn, according to Politico.
Center for Responsive Politics estimated Rice’s net worth was between $23.5 million and $43.5 million.
Rice was criticized by environmentalists for holding stock in the Keystone Pipeline XL deal when she was under consideration for secretary of state in 2012. Now, as Biden’s potential running mate pick, progressives argue that she is ill-suited to be vice president in a Democratic administration.
“It raises my eyebrows to think the potential vice president of the United States would have financial ties, whether present or historical, that are exactly opposed 180 degrees to the president,” Julian NoiseCat, vice president for the advocacy group Data for Progress who formerly worked for the environmentalist group 350.org, told Politico.
“It makes them look like hypocrites,” NoiseCat said.