Trump Advisor Stephen Miller Reportedly Holds Stake Worth Millions In ICE Contractor Palantir: 'He Could Easily...Have A Direct And Predictable Impact'

The White House’s deputy chief of staff, Stephen Miller, known for shaping the Trump administration’s stringent immigration policies, reportedly owns a significant amount of stock in ICE contractor Palantir Technologies Inc. PLTR.

What Happened: Miller’s financial disclosures reportedly indicate that he holds up to $250,000 worth of shares in Palantir, a company that plays a crucial role in the operations of U.S. immigration officials. The investment is held in a brokerage account belonging to one of Miller’s children, raising concerns about potential conflicts of interest. The financial filings were obtained by the watchdog group Project on Government Oversight, which revealed the revisions as recent as June 4.

Since the Obama era, Palantir's technology has enabled ICE to consolidate data sources to more effectively identify immigrants for arrest and deportation, with ICE calling its services "Mission Critical."

The investigation also found 11 other officials with Palantir stock holdings, though none as substantial as Miller's, the report said. Don Fox, a former acting head and former general counsel of the Office of Government Ethics, told the watchdog, "He could easily become involved in policy matters that have a direct and predictable impact on Palantir.”

Meanwhile, Homeland Security spokesperson Tricia McLaughlin dismissed the report as "very silly,” reported The Independent, while the White House said Miller has assured ethics officials he will continue to recuse himself from any matters that could affect his stock holdings.

The White House did not immediately respond to Benzinga’s request for comment.

Why It Matters: In April, Palantir secured nearly a $30 million contract with the U.S. Immigration and Customs Enforcement (ICE) to enhance its immigration enforcement tools, focusing on tracking visa overstays and self-deportations through a system called ImmigrationOS. This deal was an expansion of an existing agreement.

Palantir has also been under scrutiny for its role in the Trump administration’s immigration policies. In June, the company rejected allegations of mass surveillance and compared the criticism to collaboration with Nazi Germany and South Africa’s apartheid regime. The company has been vocal about its commitment to transparency and ethical data use.

Palantir has had a very successful run on Wall Street this year. On a year-to-date basis, the stock surged 90.49%, while over the past year, it gained 483.18%, as per Benzinga Pro.