Dr. Oz Pledge to Sell Health Stocks if Confirmed Medicare Chief

livewell
February 21, 2025
Noah Bennett

Since 2023, Dr. Mehmet Oz has been the celebrity physician nominated by former President Trump. He led the Centers for Medicare and Medicaid Services (CMS) and has been a high-paid spokesperson for iHerb.

According to filings released on Wednesday by the Office of Government Ethics, Dr. Oz is a significant investor. Moreover, he has committed to selling the majority of his multimillion-dollar portfolio to multiple healthcare companies and artificial intelligence firms.

The Senate and Dr. Oz’s Million Dollar Stocks

Filings from the Senate campaign revealed that Dr. Oz previously held up to $500,000 in UnitedHealth Group (UNH) stock. Additionally, he also owns up to $100,000 in CVS stock. Currently, his holdings in UNH have increased to as much as $600,000, while he no longer owns CVS shares. Moreover, he possesses up to $100,000 in HCA Healthcare and AbbVie, along with as much as $26 million in Amazon.

The senate confirmation also revealed that he will step down from his advisory roles at the nutritional company iHerb. He will also leave the artificial intelligence firm, Alphabet Spinoff Sandbox AQ, and the American Association of Thoracic Surgery. However, he will retain a financial stake in Oz Property Holdings and iHerb Oz while resigning from positions within organizations.

In one filing, Dr. Oz pledged upon his selling of iHerb holdings:

“As soon as practicable but not later than 90 days after confirmation”

Responses to Dr. Oz’s Pledge

Kathleen Clark, a law professor at Washington University in St. Louis specializing in government ethics, started:

“The conflicting language in the disclosures left it vague as to whether he would sell his holdings. It is poorly drafted and unclear, containing a typographical error.”

A public health professor Lawrence Gostin at Georgetown University further highlighted Dr. Oz’s investments. According to him, healthcare policy changes have led his investments to touch nearly every aspect of the healthcare system. Moreover, Gostin also stated:

“He has his fingerprints and financing all over the health care system, from services to artificial intelligence to medical products. It seems to me that those conflicts are so intertwined in his and his family’s finances, I don’t know how he disentangles himself from it all.”

Richard W. Painter, a former ethics official in the administration of George W. Bush highlighted the filing wording and stated:

“I cannot figure out if he is going to sell or not.”

This conflict of interest in healthcare officials leaves them for further confirmation from the Senate. It is important to note in this case that Oz would be responsible for healthcare insurance programs.

The Current Scenario

There is no confirmation as to when and how the stocks will be sold. Some sources highlight that Dr. Oz is getting ready for his confirmation hearing before the Senate Finance Committee. Furthermore, he is meeting with various lawmakers in Washington. However, the panel has not yet scheduled a date for his testimony.

It is expected in the coming weeks now that his financial and ethics filings have been submitted to the committee. According to the administrator for CMS, Oz is making decisions on how the government covers all procedures.