Transportation Secretary Elaine Chao has reportedly retained stock she said she would divest

Elaine Chao.
(Image credit: Chip Somodevilla/Getty Images)

Transportation Secretary Elaine Chao owns stock in a construction-materials company she said she would give up last year, The Wall Street Journal reported on Tuesday.

Chao, the report says, has retained shares in Vulcan Materials Co. despite an ethics agreement she signed before taking office stating that she would receive a cash payout in April 2018. In the subsequent year, company shares have risen 13 percent, and she reportedly gained $40,000 since then. The shares are reportedly worth $400,000 now.

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Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.