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Former Trump Adviser Dina Powell McCormick Appointed Meta President and Vice Chairman

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Meta Platforms on Monday named former Trump administration official Dina Powell McCormick as its president and vice chairman, a move widely seen as strengthening the company’s lobbying and political ties in Washington.

U.S. President Donald Trump congratulated Powell McCormick shortly after the announcement in a post on Truth Social, calling her “fantastic” and praising her service in his administration with “strength and distinction.”

Her appointment comes amid a broader strategic realignment at Meta that has brought the company closer to Trump and Republican leadership. Chief Executive Mark Zuckerberg has been seeking political backing for Meta’s expanding investments in frontier artificial intelligence and so-called personal superintelligence, including plans to build massive data centers and secure long-term energy capacity. Ahead of Trump’s second inauguration, Zuckerberg visited him at his Mar-a-Lago resort in Florida.

Over the past year, Meta has taken several steps that have appealed to Trump, including scrapping its U.S. fact-checking program, promoting Republican executive Joel Kaplan to chief global affairs officer, ending diversity programs, and hiring former Trump trade adviser C.J. Mahoney to lead its legal team. Meta declined to say whether Powell McCormick’s appointment was intended to curry favor with Trump.

Dina Powell McCormick Joins Meta as President and Vice Chairman

According to the company, Powell McCormick will focus on expanding Meta’s data center footprint, building new strategic capital partnerships, and increasing the firm’s long-term investment capacity—areas critical to its AI ambitions. Meta has committed up to $72 billion in capital spending for 2025 as it works to regain momentum in Silicon Valley’s AI race after a muted reception to its Llama 4 model.

Powell McCormick brings extensive experience in both finance and government. She spent 16 years in senior leadership roles at Goldman Sachs, served as deputy national security adviser during Trump’s first term, and previously held a senior White House advisory role under former President George W. Bush. She is married to David McCormick, a Republican senator from Pennsylvania who chairs a Senate subcommittee overseeing energy policy—an area relevant to Meta’s data center expansion.

A spokesperson for Senator McCormick said he will continue to comply with all Senate ethics rules. However, critics raised concerns about potential conflicts of interest. Sacha Haworth, executive director of the Tech Oversight Project, said the senator should recuse himself from any votes or committee actions involving Meta’s business.

Powell McCormick’s new role echoes the influence once wielded by former Chief Operating Officer Sheryl Sandberg, who used deep ties to Washington and the Democratic Party to help Meta navigate regulatory scrutiny. Notably, Powell McCormick had resigned from Meta’s board in December, just eight months after joining, before being elevated to her new executive position.

Crypto Lobbying Risks Regulatory Capture, South African Central Bank Head Says at Davos

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During a panel at the World Economic Forum in Davos, South Africa’s central bank governor Lesetja Kganyago criticized the growing influence of the cryptocurrency industry on U.S. financial regulation. He warned that crypto lobbying risks “regulatory capture,” a situation where regulations are shaped to benefit powerful industry players at the expense of broader public interest.

Key Points:

  • Regulatory Capture Concerns: Kganyago expressed concerns that the push for government-held bitcoin reserves and other crypto-friendly regulations were being heavily influenced by the industry’s lobbyists, pointing out the dangers of letting money dictate regulatory decisions.
  • Criticism of Bitcoin as a Reserve Asset: He likened the idea of holding bitcoin as a reserve asset to holding assets like beef or apples, arguing that it lacked the historical and economic grounding of assets like gold.
  • Trump’s Crypto Policies: The panel also discussed the potential effects of President Trump’s crypto-friendly policies, including the creation of a U.S. government bitcoin stockpile. Proponents like Coinbase’s CEO, Brian Armstrong, argued that Trump’s presidency could be a major boon for the industry, pointing to the initial rise in bitcoin’s price after his election.
  • Lobbying Influence: The crypto sector has spent heavily on lobbying, with major firms like Coinbase and Ripple backing pro-crypto congressional candidates, which Kganyago believes could lead to skewed regulatory outcomes.
  • Need for Regulation: Jennifer Johnson, CEO of Franklin Templeton, noted that institutional investors were hesitant to enter the crypto market without clear regulatory guidance, which she described as crucial for enabling large-scale investment in the sector.

Elon Musk’s Contradictory Stance: Supporting Trump While Lobbying for EV Subsidies

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Elon Musk, the CEO of Tesla, has increasingly aligned himself with former President Donald Trump, endorsing his candidacy and embracing some of his political rhetoric. However, this alignment contrasts sharply with the ongoing efforts by Tesla to secure government benefits, particularly those associated with the Democratic Party’s environmental policies. Despite Musk’s public endorsement of Trump, who has vowed to “end the electric vehicle mandate” and reduce subsidies, Tesla continues to lobby for regulations and benefits that have been instrumental in its success as a leading electric vehicle manufacturer.

Tesla’s reliance on government support has been crucial to its rapid growth. From a $465 million loan from the U.S. Department of Energy that helped establish its first major manufacturing facility to the nearly $9 billion earned since 2018 through the sale of regulatory credits, Tesla’s financial success is deeply intertwined with government policies designed to promote cleaner energy. These credits, awarded for surpassing emissions standards, have been a significant revenue stream for Tesla, as they can be sold to other automakers that fail to meet these standards.

Musk’s support for Trump raises questions about his motivations, especially given that the former president’s policies often contradict the interests of the electric vehicle industry. Critics argue that Musk’s stance is a pragmatic one, driven by a willingness to accept public money if available, even if it conflicts with his broader ideological beliefs. This approach is evident in Tesla’s continued lobbying efforts, which have included advocating for stricter emissions regulations and the phaseout of gasoline-powered vehicles—policies that are at odds with Trump’s views.

The dissonance between Musk’s public statements and Tesla’s lobbying activities has drawn scrutiny. While Musk has criticized subsidies and expressed support for free markets, Tesla has continued to benefit from government incentives. This contradiction extends to other areas as well, including Musk’s shifting views on climate change and identity politics, where he has distanced himself from progressive platforms while Tesla maintains a corporate stance that aligns with those values.

Ultimately, Musk’s actions suggest a complex balancing act between his personal beliefs, business interests, and long-term ambitions. As Tesla continues to shape public policy in favor of electric vehicles and clean energy, Musk’s relationship with Trump and the Republican Party remains a point of tension, highlighting the challenges of navigating the intersection of business and politics in a rapidly changing world.