Sen. Jim Inhofe, R-Okla., the chairman of the Senate Armed Services Committee, has reported buying tens of thousands of dollars in stock in one of the top defense contractors, according to The Daily Beast.
Inhofe has repeatedly pressed President Donald Trump to increase the Pentagon’s annual budget. And Trump has announced he would seek even more funding for fiscal year 2020.
The Daily Beast reported that on Tuesday, Inhofe’s financial adviser bought him between $50,000 and $100,000 in stock in defense contractor Raytheon. The Daily Beast attributed its information to documents filed with Senate ethics officials.
The website reported that after it asked about the purchase, Inhofe’s office said he had asked his financial adviser to cancel the deal. In addition, Inhofe reportedly instructed the financial adviser to avoid defense and aerospace purchases in the future.
“All of Sen. Inhofe’s financial transactions are handled by a third-party adviser,” wrote spokesperson Leacy Burke in an email. “The senator has had no involvement in and has not been consulted about his stock transactions.”
Burke said the transaction was canceled before it was settled, CNN reported. Burke said Inhofe never took ownership of it.
"Because of my new position as chairman of the Senate Armed Services Committee, it is important for me to not own or trade any defense or aerospace companies," Inhofe wrote in a letter to his financial adviser.
© 2026 Newsmax. All rights reserved.