**Cuomo’s Undisclosed $3 Million Stake in Nuclear Startup Raises Eyebrows**
Former New York Governor Andrew Cuomo is facing scrutiny for not disclosing a $3 million stake in a nuclear startup, Nano Nuclear Energy Inc., as he campaigns for the mayoralty of New York City. The company aims to develop portable nuclear reactors for use in data centers and disaster zones, according to recent securities filings.
Cuomo’s connection to Nano Nuclear began after he met the company’s founder, Jiang “Jay” Yu, at a networking event last year. Shortly after their introduction, Cuomo joined Nano’s executive advisory board in March, just before the firm launched its initial public offering, despite having no revenue or patents at that time. The startup has also engaged a consulting firm, Innovation Strategies LLC, which Cuomo established after leaving office.
Cuomo has been granted 125,000 stock options in Nano, which could be valued at approximately $3 million based on the company’s current market price. His net worth is reported to be at least $3.4 million, as per disclosures made to New York City’s Conflicts of Interest Board. A spokesperson for Cuomo confirmed that he holds these options through his consulting firm and that they have not yet been exercised. However, these options were not included in his required financial disclosures.
In response to the oversight, Cuomo’s spokesman, Rich Azzopardi, stated that they will work with the Conflict of Interest Board to amend any disclosures as necessary. He emphasized that if Cuomo is elected mayor, he would focus solely on that role and address any potential conflicts transparently.
The Conflicts of Interest Board declined to comment on the matter, citing a policy against discussing individual filings. Cuomo, who resigned in 2021 amid sexual harassment allegations—which he has denied—announced his candidacy for mayor in March.
Yu expressed admiration for Cuomo, noting his willingness to support the company and his potential to provide valuable connections within New York State. However, skepticism remains among stock market analysts and investors. A report from Hunterbrook Media last July criticized Nano for its leadership’s lack of industry experience and technology, leading to a short position taken by its affiliated investment arm.
As Cuomo navigates his political comeback, the implications of his undisclosed financial interests in a startup raise questions about transparency and ethics in public office.
**FAQ**
*What is Nano Nuclear Energy Inc. and what are its goals?*
Nano Nuclear Energy Inc. is a startup focused on developing portable nuclear reactors intended for deployment in data centers and disaster zones.