Venture Global Founders' Share Purchases Spark Scrutiny Amid Export License Decision
In March 2024, Venture Global co-founders Robert Pender and Michael Sabel each acquired nearly 1.2 million shares, totaling about 2.37 million shares valued at approximately $12 million per founder at the time. These purchases followed a March 6 meeting with senior White House officials.
Shortly after this meeting, on March 19, 2024, the White House granted an export license for Venture Global's CP2 project, supporting an expanded liquefied natural gas (LNG) export capacity of about 28 million tonnes per year. The company's initial public offering (IPO) occurred shortly after President Trump's inauguration, with shares opening roughly 4% below the $24 issue price, valuing the company around $58.2 billion. Post-IPO, the founders owned more than 80% of the company.
By mid-November 2025, Pender and Sabel jointly held about 2.37 million shares worth roughly $19 million, with the stock trading near $7.90 and the company’s market capitalization at about $19.6 billion, reflecting a nearly 67% decline from the IPO valuation.
Lobbying efforts connected to Venture Global amounted to approximately $860,000 in 2024 and $810,000 thus far in 2025. Public Citizen questioned the timing and scale of these activities, suggesting potential grounds for scrutiny or investigation.
Venture Global and the involved individuals deny any wrongdoing; the company asserts that all share acquisitions complied with Securities and Exchange Commission regulations and its trading policies. A White House spokesperson dismissed any allegations of conflicts of interest. Several requests for comment to related officials were not answered.
