Trump buys more than US$100 million in bonds since inauguration, disclosure shows
US President Donald Trump made over 600 financial moves since his second term began including bond buys while his net worth surged from crypto and media. - REUTERS/Filepic
WASHINGTON: U.S. President Donald Trump has bought more than $100 million in company, state and municipal bonds since taking office in January, according to new disclosures which shed further light on the vast holdings of America’s billionaire president.
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- Trump made 600 financial purchases since his second term began, mostly in corporate and municipal bonds.
- His net worth has grown significantly, driven by crypto holdings and Trump Media, with assets totaling at least US$1.6 billion.
- Ethics officials say his investments are compliant, managed by a third party, though critics raise concerns over potential conflicts.
The August 12 filing from the U.S. Office of Government Ethics does not list exact amounts for each purchase, only giving a broad range.
They include corporate bonds from Citigroup, Morgan Stanley, and Wells Fargo, as well as Meta, Qualcomm, The Home Depot, T-Mobile USA and UnitedHealth Group.
Other debt purchases include various bonds issued by cities, states, counties and school districts as well as gas districts, and other issuers.
The holdings cover sectors that could benefit from U.S. policy shifts under his administration, such as financial deregulation.
A senior White House official said Trump continued to file mandatory disclosures about his investment portfolio but that neither he nor his family had a role in managing or selecting the bonds, which are managed by a third-party financial institution. Federal ethics officials certified the reports, which are in compliance with applicable laws, according to the official, who declined to be named.
Trump, a businessman-turned-politician, has said he has put his companies into a trust managed by his children.
“President Trump’s net worth has increased substantially, with much of that concentrated in crypto holdings and Trump Media. Given that, there is no evidence currently that his bond purchases are anything other than a prudent diversification within his billions of dollars in assets,” said John Canavan, lead US analyst at Oxford Economics.
“It seems like he was primarily purchasing corporate and municipal bonds and others that are high quality and highly rated, so it's just a way to take a little bit of risk off the table," he said.
Trump'sannual disclosure form filed in June showed his income from various sources still ultimately accrues to the president - something that has opened him up to accusations of conflicts of interest.
In that disclosure, which appeared to cover the 2024 calendar year, Trump reported more than $600 million in income from cryptocurrencies, golf properties, licensing and other ventures. It also showed the president's push into crypto had added substantially to his wealth.
Overall, the president reported assets worth at least $1.6 billion, according to a Reuters calculation at the time.
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