Business among politics. Without a doubt, Donald Trump since his re-election has practiced a mixture of genres that has been very profitable for his business. The wealthy US president bought at least $82 million (70.5 million euros) in corporate and municipal bonds between late August and early October, including new investments in sectors that have benefited from his policies, according to financial disclosures published on Saturday.
According to forms released by the US Office of Government Ethics, Trump made more than 175 financial purchases between August 28 and October 2, which was a big month. This declaration, created under a 1978 transparency law called the Ethics in Government Act, to report purchases over $1,000, does not specify the exact amount of each purchase, but only indicates a range. The total ranges from 82 to 337 million dollars, without us knowing the exact amount Trump spent.
Corporate bonds are securities issued by the public or private companies with the aim of obtaining financing. This is a loan provided to a legal entity, which does not provide ownership rights to the property, unlike shares.
Intel Bonds and JP Morgan Stock
Most of the assets named in Saturday’s filing are bonds issued by cities, states, counties, school districts and other entities related to public agencies.
On the business side, his investments include several sectors that have benefited, or will benefit, from his administration’s policy changes, such as financial deregulation. Presidents and entrepreneurs buy bonds issued by electronic chip manufacturers (Broadcom, Qualcomm), by Meta, Home Depot, but also the medical and paramedic group CVS Health, from investment banks as well.
Trump also acquired Intel bonds after the federal government committed to taking a 10% stake in the company by the end of August, to build or expand its factories in the US.
White House tenants also purchased bonds from JP Morgan bank. However, on Friday, wanting to escape the pressure that would not let him go, he asked the US Department of Justice to investigate the ties that the Wall Street firm maintained with the late Jeffrey Epstein. But in September 2023, the bank has resolved this bad relationship by agreeing to pay 75 million in compensation to the American Virgin Islands who wanted to sue it for facilitating the operation of a prostitution ring founded by the New York financier, who is close to Donald Trump.
Assets of $1.6 billion
Donald Trump’s entourage has indicated that the tycoon continues to submit mandatory declarations regarding his investments, but neither he nor his family participate in the management of these portfolios, which are managed by third-party financial institutions.
Trump, who expanded the real estate fortune his parents inherited before entering politics, said he was placing his companies in a trust managed by his children. A statement filed in August said he had obtained bonds worth more than $100 million (86 million euros) since returning as president on January 20.
In his annual declaration, which appears to cover the 2024 calendar year, filed in June, Trump reported income of more than $600 million (€516 million) from cryptocurrencies, his golf properties, licensing and other businesses. This document also shows that his investments in cryptocurrencies have increased his wealth significantly. In total, the president’s statement in June listed assets worth at least $1.6 billion (€1.37 billion). This is a far cry from the 10 billion (8.60 billion euros) he claimed to have at the start of his first mandate.
