U.S. President Donald Trump has been investing in the stock market while leading the country. He has a vast portfolio of hotels, golf courses, and luxury residential properties bearing his name, valued at more than $6 billion. But he also has a significant stock portfolio that he continued to grow during the first quarter, according to the extensive report containing his financial disclosure, released Thursday night by the Office of Government Ethics. A White House spokesperson maintains that the president does not make decisions about the investment process, which is managed by advisers. They explain that independent financial managers traded on his behalf using programs that track recognized indices.
The 113‑page document shows that Trump carried out thousands of stock purchases and sales during the first quarter of this year. Because the disclosure reports transactions in broad price ranges, it is estimated that between January and April, he executed trades totaling somewhere between roughly $220 million and approximately $770 million.
During that period, Trump bought shares in Nvidia, Oracle, Microsoft, Boeing, Meta, Intel, Amazon, and Costco, and also invested in index funds and other securities. He also bought shares in Paramount and Netflix amid the battle between the two entertainment giants to acquire the century-old Warner Bros. film studios.
Paramount and Netflix investment
Last March, he bought a modest stake in Warner Bros., valued at at least $30,000, and a stake in Paramount Skydance valued at least $15,000 that same month. He also made 19 transactions that mentioned Netflix, including sales ranging from $1,000 to $5 million during the first quarter. During that period, he met with executives from Paramount and Netflix and was kept informed about the negotiations to acquire Warner.
Trump holds most of his wealth in a trust managed by his children. The Trump family conglomerate has continued to conduct lucrative business during the patriarch’s presidency, including profitable ventures in the Middle East and in the world of cryptocurrencies and digital assets.
The disclosure of Trump’s financial assets was published amid growing concerns and doubts about the president’s family’s business dealings and potential for conflicts of interest. Trump’s children traveled with him on Air Force One for the diplomatic mission to China, where he met with President Xi Jinping. Representatives from several companies, including Boeing, Apple, and Nvidia, were also part of the delegation. Trump had invested in many of these companies during the first quarter, and these stocks are among the most actively traded by Wall Street investors due to their strong performance.
Trump family
What’s more, during these months, the Trump administration has made decisions that affect these companies. It authorized the sale of Nvidia chips to China, and during the recent trip to China, it helped Boeing secure a commitment from Chinese airlines to purchase 200 aircraft from the U.S. aerospace giant. It also pushed investment in artificial intelligence by encouraging the construction of data centers, ordered an entry into Intel’s capital, and received first‑hand information about succession plans at Apple.
U.S. presidents are exempt from the conflict-of-interest rules that apply to members of Congress and other officials, which prohibit them from participating in matters in which they have a financial interest. They are not required to disclose the types of assets they hold, so their financial disclosures include entries for thousands of transactions, but without much information.
Since the 1970s, following the Watergate scandal, presidents have tried to avoid controversies surrounding their personal finances. For this reason, previous U.S. presidents used blind trusts, divestments, or investments in generic assets such as Treasury bonds or mutual funds before their inauguration, aiming to minimize the risk of a conflict-of- interest scandal, something that does not appear to concern the 79‑year‑old politician from Queens.
During his first term, Trump decided to sell his stock portfolio before taking office and pledged that his companies would not sign any foreign trade agreements, but upon his return to power in 2025, he changed course. In an interview with The New York Times, he confessed that he was shifting his strategy for this second term. “I found out that nobody cared,” he said.
The Republican president filed his disclosures several days late, resulting in a fine from the Office of Government Ethics. The penalty — about $200 — is unlikely to prompt him to speed up next time.
Among the financial moves, notable divestments in tech stocks stand out from last February. He reduced his holdings in Microsoft, Meta, and Amazon in amounts ranging from $5 million to $25 million.
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