How Biden’s ‘Green Energy Economy’ is Benefiting Left-Wing Billionaires

Bill Gates, a Dem megadonor, and Laurene Powell Jobs see green-energy investments flooded by taxpayer cash Bill Gates (Getty Images).

President Joe Biden’s tax-funded push to build America “clean energy economy” Benefiting the left’s most prominent billionaire megadonors, Bill Gates and Laurene Poppy Jobs, Washington Free Beacon analysis discovered.

Biden’s Energy Department has announced loans of nearly $3 billion to two electric-battery companies in the last two weeks. Redwood Materials IoneerThey are backed by seed money from Jobs, Gates, and other left-leaning billionaires. These billionaires who have invested millions in the campaign to get Democrats elected to power in Washington are likely to make a large profit on their initial investment. Biden provided a loan of $700 million to Ioneer. The announcement saw the stock price rise 33 percent.

Biden’s Energy Department funds Redwood and Ioneer via its Loan Programs Office. This office is not new to controversy. Former president Barack Obama approved a $529m loan to Fisker Electric Car Manufacturer, which declared bankruptcy in 2013. The company was then sold to China. The office was largely dormant following Fisker’s taxpayer-funded failure—until Biden’s so-called Inflation Reduction Act funded it to the tune of More than $300 billion. Congressional Republicans such As Sen. Tom Cotton (R. Ark.). Warned That the money would create an “green energy slush fund”—predictions that are now proving true.

Biden’s green-energy grants go to the same people who funded dark money groups that got Biden elected. Redwood will be celebrating its 2021 birthday in July. raised $700 Million from a “carefully selected group of strategic investors,” Powell Jobs and Gates participated in the fundraising round through investment firms. According to an October 2005 report, Ioneer also boasts John Arnold, the Texas billionaire, as a major shareholder. SEC filing. Gates 2020 Sent $127 million for a liberal network of dark money working to elect Democrats. Powell Jobs gave Left-wing candidates and political parties more than $2,000,000 Arnold is also active in liberal dark money circles—he gave One such group will receive $13.5 million between 2016 and 2020.

The Energy Department did no respond to our request for comment. The spokesperson for Ioneer said that the department did not respond to a request for comment. Free Beacon The company is “grateful for the Department of Energy Loan Programs Office’s conditional commitment” But he didn’t return