U.S. President Donald Trump purchased at least $82 million in corporate and municipal bonds between late August and early October, including new investments in sectors benefiting from his policies, according to financial disclosures made public on Saturday.
The documents, released by the U.S. Office of Government Ethics, revealed that Trump made over 175 financial purchases from August 28 to October 2. These disclosures, filed under the 1978 Ethics in Government Act, do not provide exact amounts for each purchase but offer a broad range of values.
The total maximum value of the bond purchases exceeded $337 million, according to the filings. Most of the listed assets consist of bonds issued by municipalities, states, counties, school districts, and other entities linked to public agencies.
Trump's new bond investments span several sectors, including industries that have benefited from, or are benefiting from, his administration's policy changes, such as financial deregulation. Among the corporate bonds Trump acquired were offerings from chipmakers like Broadcom and Qualcomm, tech companies such as Meta Platforms, retailers like Home Depot and CVS Health, and Wall Street banks including Goldman Sachs and Morgan Stanley.
Trump also purchased debt from investment banks, including bonds from JP Morgan in late August. On Friday, Trump requested the U.S. Justice Department to investigate JP Morgan over its connections to the late financier and convicted sex offender Jeffrey Epstein. The bank has stated it regrets its past associations with Epstein and denies any involvement in his crimes.
Additionally, Trump acquired bonds from Intel after the U.S. government, under his direction, took a stake in the company.
The White House did not immediately respond to requests for comment. The administration has previously stated that Trump continues to file mandatory disclosures about his investments, but that neither he nor his family manage the portfolio, which is overseen by a third-party financial institution.
Trump, who made his fortune in real estate before entering politics, has said he placed his companies in a trust managed by his children.
U.S. stocks ended mixed on Friday, with the Dow falling by about two-thirds of a percent, the S&P 500 closing nearly flat, and the Nasdaq edging up slightly.
An August disclosure indicated that Trump had purchased more than $100 million in bonds since returning to the presidency on January 20. His annual disclosure form, filed in June, showed that income from his various ventures still ultimately benefits him, raising concerns about potential conflicts of interest. In that annual filing, which likely covered the 2024 calendar year, Trump reported more than $600 million in income from cryptocurrencies, golf properties, licensing, and other business ventures. The document also revealed that his cryptocurrency investments had significantly increased his wealth.
Trump’s June disclosure listed assets worth at least $1.6 billion, according to a Reuters calculation at the time.
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