Michael Kratsios
The data on this page comes from a financial disclosure filed by Michael Kratsios, who was picked to be: Director, Office of Science and Technology Policy. It is part of a collection of thousands of ethics documents ProPublica has been collecting from across the Trump administration.
Roles Outside Government
Officials are required to disclose paid or unpaid positions they hold or recently held outside the federal government, including roles as officer, director, trustee or employee. (Form 278e, Part 1)
| Organization | Position held | Endnote | Line No. |
|---|---|---|---|
| Scale AI, Inc. | Managing Director, 3/2021 - 1/2025 | 1 | |
| Foundation for Student Communication Inc. | Trustee, 2/2022 - 1/2025 | 2 | |
| Stanford University | Distinguished Visiting Fellow, 4/2024 - 1/2025 | 3 | |
| Dunes Point Capital | Senior Advisor, 2/2024 - 1/2025 | 4 | |
| Foundation for American Innovation | Board Member, 5/2023 - 1/2025 | 5 | |
| University of Oklahoma | Oklahoma University Strategic Research Advisory Board Member, 5/2023 - 11/2024 | 6 | |
| Council on Competitiveness | Distinguished Fellow, 2/2021 - 1/2025 | 7 |
Employment Assets
Officials are required to disclose assets associated with their employment, including salary, retirement accounts, stocks, intellectual property and awards or prizes. (Form 278e, Part 2)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| Thiel Capital 401(k) plan: | 1 | ||||
| Vanguard Target Retirement 2055 Fund Investor Shares (VFFVX) | $250K - $500K | None (or less than $201) | 1.1 | ||
| Roth IRA | 2 | ||||
| iShares iBoxx $ Invst Grade Crp Bond (LQD) | $1,001 - $15,000 | None (or less than $201) | 2.1 | ||
| Vanguard Total Stock Market ETF (VTI) | $50,001 - $100K | None (or less than $201) | 2.2 | ||
| Vanguard REIT ETF (VNQ) | $15,001 - $50,000 | None (or less than $201) | 2.3 | ||
| VANGUARD FTSE EMERGING MARKETS ETF (VWO) | $15,001 - $50,000 | None (or less than $201) | 2.4 | ||
| Schwab US Tips ETF (SCHP) | $1,001 - $15,000 | None (or less than $201) | 2.5 | ||
| VANGUARD FTSE DEVELOPED MARKETS ETF (VEA) | $15,001 - $50,000 | None (or less than $201) | 2.6 | ||
| Scale AI, Inc., vested stock options | $1M - $5M | None (or less than $201) | 3 | ||
| Stanford University 4/2024 - 1/2025 | $20,000 | Fellowship Income | 4 | ||
| Dunes Point Capital | $87,500 | Senior Advisor Fee | 5 | ||
| Scale AI, Inc. | $751K | Salary/Bonus | 6 | ||
| Scale AI, Inc. Class B Common Shares | $1M - $5M | $1M - $5M | Capital Gains | 7 | |
| University of Oklahoma 5/2023 - 11/2024 | $2,000 | Advisory Board Member Fee | 8 | ||
| Scale AI 401(k) plan: | 9 | ||||
| Schwab Target 2055 Index Fund (SWYJX) | $100K - $250K | None (or less than $201) | 9.1 | ||
| IRA #1 | 10 | ||||
| Fidelity Growth Company Fund (FDGRX) | $15,001 - $50,000 | None (or less than $201) | 10.1 | ||
| Scale AI HSA | 11 | ||||
| U.S. Bank (Cash) | $15,001 - $50,000 | None (or less than $201) | 11.1 |
Employment Agreements
Officials are required to disclose agreements relating to other jobs, including what will happen with any small businesses they own during government service and any continued health care coverage, planned leaves of absence, severance or bonuses. (Form 278e, Part 3)
| Organization | Agreement | Endnote | Line No. |
|---|---|---|---|
| Thiel Capital LLC | I will continue to participate in my former employer's 401(k) plan. The former employer no longer makes contributions to this plan. (2010-08-01) | 1 | |
| Scale AI, Inc. | My employment at Scale ended on January 17, 2021. Pursuant to company stock option and grant plan, I forfeited my unvested stock options. I have retained vested stock options and have seven years to exercise. In addition, I will continue to participate in my former employer's 401(k) plan and HSA. The former employer no longer makes contributions to this plan or HSA. (2021-03-01) | 2 |
Compensation
Officials are required to disclose the sources of any compensation above $5,000 in a year. (Form 278e, Part 4)
Spouse’s Assets
Officials are required to disclose their spouse’s assets, including salary and retirement accounts worth more than $1,000. (Form 278e, Part 5)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| Coinbase | salary | 1 | |||
| Coinbase, unvested RSUs | $15,001 - $50,000 | None (or less than $201) | 2 | ||
| Coinbase 401(k) | 3 | ||||
| Vanguard Target Retirement 2060 Fund Investor Class Shares (VTTSX) | $15,001 - $50,000 | None (or less than $201) | 3.1 | ||
| Google 401(k) | 4 | ||||
| Vanguard Target Retirement 2055 Fund Investor Class Shares (VFFVX) | $15,001 - $50,000 | None (or less than $201) | 4.1 | ||
| Coinbase Global Inc. Class A Common Stock (COIN) | $15,001 - $50,000 | None (or less than $201) | 5 |
Other Assets and Income
Officials are required to disclose other assets and sources of investment income belonging to them, their spouse or their dependent children. These include annuities, bonds, cash, college savings plans, farms, precious metals, real estate, stocks, trusts and wills. (Form 278e, Part 6)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| U.S. Bank #1 (Cash) | $1M - $5M | $50,001 - $100K | Interest | 1 | |
| U.S. Bank #2 (Cash) | $15,001 - $50,000 | None (or less than $201) | Interest | 2 | |
| U.S. Bank #3 (Cash) | $50,001 - $100K | None (or less than $201) | Interest | 3 | |
| United States Savings Bonds | $15,001 - $50,000 | $201 - $1,000 | Interest | 4 | |
| U.S. Bank #4 (Cash) | $1,001 - $15,000 | $201 - $1,000 | Interest | 5 | |
| U.S. Bank #5 (Cash) | None (or less than $1,001) | $201 - $1,000 | Interest | 6 | |
| U.S. Bank #6 (Cash) | $50,001 - $100K | None (or less than $201) | 7 | ||
| HSBC -- U.K. bank #7 (Cash) | $15,001 - $50,000 | None (or less than $201) | 8 | ||
| Brokerage Account #1 (Cash) | $100K - $250K | None (or less than $201) | 9 | ||
| Brokerage Account #2 (Cash) | $1,001 - $15,000 | None (or less than $201) | 10 | ||
| Fidelity Magellan Fund (FMAGX) | $15,001 - $50,000 | None (or less than $201) | 11 | ||
| Brokerage account #3 | 12 | ||||
| iShares Core S&P Total U.S. Stock Market ETF (ITOT) | $250K - $500K | None (or less than $201) | 12.1 | ||
| Vanguard Dividend Appreciation ETF (VIG) | $1,001 - $15,000 | None (or less than $201) | 12.2 | ||
| IShares Core Dividend Growth ETF (DGRO) | $100K - $250K | None (or less than $201) | 12.3 | ||
| VANGUARD FTSE DEVELOPED MARKETS ETF (VEA) | $100K - $250K | None (or less than $201) | 12.4 | ||
| SCHWAB INTERNATIONAL EQUITY ETF (SCHF) | $15,001 - $50,000 | None (or less than $201) | 12.5 | ||
| VANGUARD FTSE EMERGING MARKETS ETF (VWO) | $1,001 - $15,000 | $201 - $1,000 | 12.6 | ||
| ISHARES Core MSCI Emerging Markets ETF (IEMG) | $50,001 - $100K | None (or less than $201) | 12.7 | ||
| Vanguard Tax-Exempt Bond Index ETF (VTEB) | $15,001 - $50,000 | None (or less than $201) | 12.8 | ||
| iShares National Muni Bond ETF (MUB) | $50,001 - $100K | $1,001 - $2,500 | 12.9 | ||
| Schwab US Tips ETF (SCHP) | $15,001 - $50,000 | None (or less than $201) | 12.10 | ||
| RBC Funds Trust - U.S. Government Money Market Fund (TIMXX) | $1,001 - $15,000 | None (or less than $201) | 12.11 | ||
| SCHWAB US BROAD MARKET ETF (SCHB) | $50,001 - $100K | $201 - $1,000 | 12.12 | ||
| Schwab US Dividend Equity ETF (SCHD) | $1,001 - $15,000 | $201 - $1,000 | 12.13 | ||
| Residential Real Estate, London, UK | $1M | $100K - $1M | Rent or Royalties | 13 | |
| CoinBase Wallet | 14 | ||||
| Bitcoin | $100K - $250K | None (or less than $201) | 14.1 | ||
| Ethereum | $15,001 - $50,000 | None (or less than $201) | 14.2 |
Transactions
Officials are required to disclose the purchase, sale or exchange of property or securities in excess of $1,000. Many top officials are required to file periodic transaction reports (278-T) within 45 days to disclose additional actions. This table combines transactions from regularly scheduled financial disclosures and periodic transaction reports. If the same transaction appears on multiple reports, we’re only showing it once. (Form 278e, Part 7 and Form 278-T)
| Description | Value | Transaction | Endnote | Line No. |
|---|---|---|---|---|
| Schwab S&P 500 Index Fund (SWPPX) | $1M - $5M | Purchase, 2025-08-18
 | 1 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-12-26
| 1 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Sale, 2026-03-27
| 1 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-05-15
| 1 | |
| Schwab US Tips ETF (SCHP) | $1,001 - $15,000 | Sale, 2025-04-21
| 1 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-03-24
| 1 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $1,001 - $15,000 | Purchase, 2025-02-24
| 1 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Purchase, 2025-12-26
| 2 | |
| Vanguard Total Stock Market Index Fund ETF Class Shares (VTI) | $1,001 - $15,000 | Sale, 2025-08-11
| 2 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-05-15
| 2 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Sale, 2026-03-20
| 2 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-04-21
| 2 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $250K - $500K | Sale, 2025-03-31
| 2 | |
| IShares Core Dividend Growth ETF (DGRO) | $1,001 - $15,000 | Sale, 2025-03-04
| 2 | |
| Vanguard Total Stock Market Index Fund ETF Class Shares (VTI) | $250K - $500K | Purchase, 2025-03-31
| 3 | |
| Vanguard Real Estate Index Fund ETF Shares (VNQ) | $1,001 - $15,000 | Purchase, 2025-08-11
| 3 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Purchase, 2026-03-20
| 3 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-05-16
| 3 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-03-04
| 3 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-05-16
| 4 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Sale, 2026-03-09
| 4 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $1,001 - $15,000 | Purchase, 2025-03-04
| 4 | |
| Vanguard Total Stock Market Index Fund ETF Class Shares (VTI) | $1,001 - $15,000 | Purchase, 2025-04-03
| 4 | |
| IShares Core Dividend Growth ETF (DGRO) | $1,001 - $15,000 | Purchase, 2026-03-09
| 5 | |
| IShares Core Dividend Growth ETF (DGRO) | $15,001 - $50,000 | Sale, 2025-04-03
| 5 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-05-19
| 5 | |
| IShares Core Dividend Growth ETF (DGRO) | $1,001 - $15,000 | Sale, 2025-03-06
| 5 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $15,001 - $50,000 | Purchase, 2025-04-03
| 6 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-03-06
| 6 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-05-19
| 6 | |
| Vanguard Total Stock Market Index Fund ETF Class Shares (VTI) | $1,001 - $15,000 | Purchase, 2025-04-04
| 7 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $15,001 - $50,000 | Sale, 2025-05-22
| 7 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Purchase, 2026-03-27
| 7 | |
| iShares Core MSCIEmerging Markets ETF (IEMG) | $15,001 - $50,000 | Sale, 2025-04-04
| 8 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-03-10
| 8 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-05-22
| 8 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-04-04
| 9 | |
| IShares Core Dividend Growth ETF (DGRO) | $1,001 - $15,000 | Purchase, 2025-05-22
| 9 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-03-11
| 10 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-05-23
| 10 | |
| VanguardEmerging Markets Stock Index Fund ETF Shares (VWO) | $15,001 - $50,000 | Purchase, 2025-04-04
| 10 | |
| iShares Core MSCIEmerging Markets ETF (IEMG) | $1,001 - $15,000 | Sale, 2025-04-07
| 11 | |
| IShares Core Dividend Growth ETF (DGRO) | $1,001 - $15,000 | Sale, 2025-03-11
| 11 | |
| IShares Core Dividend Growth ETF (DGRO) | $15,001 - $50,000 | Sale, 2025-03-13
| 12 | |
| VanguardEmerging Markets Stock Index Fund ETF Shares (VWO) | $1,001 - $15,000 | Purchase, 2025-04-07
| 12 | |
| IShares Core Dividend Growth ETF (DGRO) | $1,001 - $15,000 | Sale, 2025-04-08
| 13 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $15,001 - $50,000 | Purchase, 2025-03-13
| 13 | |
| VanguardEmerging Markets Stock Index Fund ETF Shares (VWO) | $1,001 - $15,000 | Purchase, 2025-04-08
| 14 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-03-10
| 14 | |
| Vanguard Dividend Appreciation Index Fund ETF Class Shares (VIG) | $1,001 - $15,000 | Purchase, 2025-04-08
| 15 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $1,001 - $15,000 | Purchase, 2025-03-10
| 15 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-03-12
| 16 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $15,001 - $50,000 | Sale, 2025-03-31
| 16 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $1,001 - $15,000 | Purchase, 2025-03-12
| 17 | |
| Vanguard Tax-Exempt Bond Index Fund ETF Shares (VTEB) | $1,001 - $15,000 | Sale, 2025-03-13
| 18 | |
| iShares Core S&P Total US Stock Market ETF (ITOT) | $1,001 - $15,000 | Purchase, 2025-03-13
| 19 | |
| iShares National Muni Bond ETF (MUB) | $1,001 - $15,000 | Purchase, 2025-03-13
| 20 |
Liabilities
Officials are required to disclose their liabilities totaling more than $10,000, as well as any linked to their spouse or dependent children. These include mortgages, credit card debt and student loans. The interest rates and loan repayment terms are also required. (Form 278e, Part 8)
About the Data
Most political appointees and senior officials in the executive branch are required by law to file public financial disclosure reports. These are documents that detail their financial holdings, positions they hold outside government, their spouse’s holdings, their liabilities and their recent financial transactions (such as buying or selling stock) during a defined reporting period.
The most senior officials file their disclosures with an agency called the Office of Government Ethics, and others file them with a designated ethics official within their agency. The Ethics in Government Act allows members of the public and the press to request these documents.
We’re publishing this information to give the public an important glimpse into the financial ties of a powerful and often hidden cadre of presidential appointees within the federal bureaucracy.
The main document type included in the database is the OGE Form 278e, which appointees must file when they are nominated (for Senate-confirmed appointees) or when they enter government (all others), and then annually while in the position. Another common document included is the OGE Form 278-T, also known as a periodic transaction report, which all public filers must submit within 30 days of a transaction. We are also making other ethics documents available, such as ethics agreements, certificates of divestiture and other documents we have obtained under the Ethics in Government Act.
