Eoin Hayes readmitted to Social Democrats after Palantir shares controversy

Mr Hayes apologises for misleading media, donates $51,000 profit to Gaza aid groups, and vows to rebuild trust

Newly readmitted Social Democrat TD Eoin Hayes. Picture: Sam Boal/Collins Photo.

Dublin Bay South TD Eoin Hayes has been readmitted to the Social Democrats’ parliamentary party, more than eight months after being suspended over shares he held in a controversial US company.

The TD was originally suspended by the party last December after he provided incorrect information to the media about when he disposed of shares in Palantir, a US company that supplies the IDF with artificial intelligence tools.

Mr Hayes said: "At the outset, I want to give a full and unequivocal apology for giving the incorrect information to the media about when I divested from Palantir. I also want to be clear that I should not have held the shares for as long as I did."

Mr Hayes said he made a $51,000 donation, split between three separate humanitarian organisations active in Gaza — UNRWA, UNICEF and Doctors Without Borders.

"This figure represents the uplift in share price, less applicable taxes, from October 7 2023 to July 26 2024, when I sold the shares," Mr Hayes said.

“I know I have let people down and I am determined to work hard and earn back people’s trust.” 

Cian O'Callaghan, acting leader of the party, said Mr Hayes deserved a “second chance” after being suspended for more than eight months.

“Eoin has a lot to offer as a Social Democrats TD and I look forward to working with him," Mr O'Callaghan said.

The controversy erupted after Mr Hayes repeatedly told the media he had sold his shares in Palantir before entering politics.

However, Mr Hayes later admitted to the party that he had not disposed of the shares until July 2024, a month after he was elected as a Dublin City Councillor.

Mr Hayes clarified that he held 7,000 shares in Palantir and sold them for a pre-tax figure of €199,000.

This led to his immediate suspension from the party on December 10, 2024, just days after he was elected to the Dáil.