Kelly Loeffler disclosure shows husband’s Executive Branch club interest
SBA chief Kelly Loeffler’s filing lists husband Jeffrey Sprecher’s $250,001 to $500,000 interest in Executive Branch LLC.
By Dev Ramirez · Crypto Correspondent
· 3 min read
A Kelly Loeffler disclosure filed with federal ethics officials lists her husband Jeffrey Sprecher as holding a $250,001 to $500,000 interest in Executive Branch LLC, the company behind a private Washington club co-founded by Donald Trump Jr., CNBC reported. For investors, the filing draws attention because Sprecher runs Intercontinental Exchange, the owner of the New York Stock Exchange, while Loeffler leads the Small Business Administration.
CNBC said it obtained Loeffler’s 45-page annual financial disclosure from the U.S. Office of Government Ethics. The filing places Sprecher’s interest in Executive Branch LLC in the section covering spousal employment, income, assets and retirement accounts, according to CNBC.
The asset produced no more than $201 in income, CNBC reported, citing the filing. Federal financial disclosures report assets and income in broad ranges, so the document does not give an exact dollar figure.
The SBA told CNBC the item belongs to Sprecher. “As noted in the disclosure, the item reflects an interest held by Administrator Loeffler’s spouse,” SBA spokeswoman Caitlin O’Dea said, according to CNBC. O’Dea did not provide another explanation for the holding or answer directly when asked whether Sprecher is a member, CNBC reported. Sprecher did not respond to CNBC’s request for comment.
What is the Executive Branch club?
Executive Branch is an invitation-only members club in Georgetown that connects business executives, investors and Trump allies in a private setting, according to CNBC and prior reporting by The Washington Post. CNBC reported that Donald Trump Jr. helped launch the club along with 1789 Capital co-founders Omeed Malik and Chris Buskirk, plus Alex and Zach Witkoff, sons of Trump Middle East envoy Steve Witkoff.
CNBC has reported that the club’s initial membership fee was $500,000, matching the upper end of the value range listed for Sprecher’s interest. An archived version of the club’s bylaws and rules also shows annual dues, CNBC reported. CNBC said the low income reported from the asset fits a membership organized as an equity interest rather than a typical income-producing investment.
White House AI and crypto czar David Sacks, previously identified by CNBC as a founding member, told The New Yorker that organizers wanted to build something “new, hipper and Trump-aligned.” A representative for Executive Branch previously told The Washington Post that the club was meant to give colleagues a private place to meet without media interference and denied that it was designed to offer pay-to-play access to the administration.
Executive Branch did not respond to CNBC’s request for comment.
Why the filing is getting attention
Loeffler, a former Georgia senator and businesswoman, has led the SBA since 2025. The agency oversees federal loan guarantees and assistance programs for millions of small businesses.
Sprecher is CEO of Intercontinental Exchange, whose businesses include exchanges, clearinghouses and financial data operations. CNBC noted that those businesses can be affected by federal economic and regulatory decisions.
CNBC reported that there is no evidence the apparent club membership has affected Loeffler’s SBA work, changed federal policy or led to favorable treatment for Sprecher or Intercontinental Exchange.
Loeffler’s filing also listed a separate investment valued between $1 million and $5 million tied to SpaceX and xAI, CNBC reported. Reuters previously reported that PitchBook estimated the investment was worth between $2.2 million and $25.4 million when SpaceX went public in June.
This story draws on original reporting from CNBC.
